I was told by my agent that appraisal cannot be over purchase price… is this true? I just got appraisal and it came $8K lower, but also noticed in the report that the appraiser thought my purchase price was $8K lower. (He must have not received the counter offer addendum)
I need to know if this is the rule (that appraisal cannot go over contract price), before I consider possibly asking for re-negotiation on the price…
Your agent and you miscommunicated. An appraisal is the appraiser’s professional opinion, based on comparables and other data, of what the property is “worth” today. By “worth” we mean what it would fetch in the market if it were to be sold to an unrelated party.
The contract price should not, in theory, affect the appraiser’s opinion.
Your agent and you miscommunicated. An appraisal is the appraiser’s professional opinion, based on comparables and other data, of what the property is “worth” today. By “worth” we mean what it would fetch in the market if it were to be sold to an unrelated party.
The contract price should not, in theory, affect the appraiser’s opinion.
Your agent and you miscommunicated. An appraisal is the appraiser’s professional opinion, based on comparables and other data, of what the property is “worth” today. By “worth” we mean what it would fetch in the market if it were to be sold to an unrelated party.
The contract price should not, in theory, affect the appraiser’s opinion.
Your agent and you miscommunicated. An appraisal is the appraiser’s professional opinion, based on comparables and other data, of what the property is “worth” today. By “worth” we mean what it would fetch in the market if it were to be sold to an unrelated party.
The contract price should not, in theory, affect the appraiser’s opinion.
Your agent and you miscommunicated. An appraisal is the appraiser’s professional opinion, based on comparables and other data, of what the property is “worth” today. By “worth” we mean what it would fetch in the market if it were to be sold to an unrelated party.
The contract price should not, in theory, affect the appraiser’s opinion.
That’s absolutely my thinking – however I was confused that my agent thinks there’s some kind of law that keeps appraisal be lower than contract price.
That’s absolutely my thinking – however I was confused that my agent thinks there’s some kind of law that keeps appraisal be lower than contract price.
That’s absolutely my thinking – however I was confused that my agent thinks there’s some kind of law that keeps appraisal be lower than contract price.
That’s absolutely my thinking – however I was confused that my agent thinks there’s some kind of law that keeps appraisal be lower than contract price.
That’s absolutely my thinking – however I was confused that my agent thinks there’s some kind of law that keeps appraisal be lower than contract price.
