My first appaisal came in at $10,000 above contract price. Then everything went haywire and second appraisal (completely different lender and appraisal company, but within 2 weeks) had to be done, it also came in at $10,000 above contract price.
My cousin bought in same neighborhood and closed the week before me, his appraisal also came in at $10,000 above contract price.
From what I saw there was a template they follow that includes pulling neighborhood comps and a quick look at the home to justify the lender giving you that much money.
