How do you fight back when an appraiser — often from another city and working for a small fee on behalf of a big bank — wrecks your sale, purchase or refinancing with a low-ball valuation?
It’s a serious problem in markets across the country.
Disagreements over real estate values are nothing new, but agents, builders and sellers say current market conditions, plus recent changes in federal rules that effectively encourage banks to use in-house or affiliated appraisal management companies, are magnifying the problem.
Read all about it > Flawed real estate appraisals create problems for buyers, sellers, refinancers
In the real estate world there are few events more difficult, frustrating and intensely emotional than a buyer not able to buy a house and a seller not able to sell because of a screwball, faulty appraisal.
It happened to me for the first and only time this past summer and, I’m happy to say, I fought back and I won. I wrote about it here > the problem with appraisals
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