re: Update --- Mortgage underwriter doesn't agree with appraisal

I initially glanced over OP was the seller. He is upset that they are questioning his value; I get that. However, his realtor has nothing to do with the buyers scenario unless the realtor is affiliated with the mortgage broker, etc. I can understand the buyer's lender questioning the value and it should be obvious why. This is standard procedure in many large lending company scenarios. As a broker, I've had it happen many times and it is usually an over-valued property that the realtor is pushing hard for. There is nothing anyone can do in this situation unless the buyer really wants the house and feels they are getting value. As a loan officer, I was usually torn in this situation. I wanted the deal to work, but I didn't want the borrower to get taken advantage of. This is a real sticky area, because the realtor/seller are the worst people to involve in this, just looks bad to the underwriter. Most buyers believe they are priced correctly. On a sale, a similar missed comp sticks out like a sore thumb. We always had issues with N.O, because the proximity of good and bad areas, and major land-marks or transitions (interstate, roadways, bridges, railroads). In this situation, if the buyer really wants it, the seller will be asking for him to move on to another lender or spend money. In my experience it will usually not end well, he should probably start showing the house to other people and adjust his price. If the buyer goes to another lender, they usually can see his multiple applications and they usually find the same issues. He would be best to move to a local bank or CU.