Home Appraisal

Yeah this is where she'll earn her keep hopefully. She didn't have to do much to sell the house (on the market for 3 days).

The house appraised for 4k more when we bought it only 2 years ago and that was before we painted the kitchen, extended the outdoor patio, and built flowerbeds, and a new fence in the backyard. Glad I did all that myself and didn't pay contractors for labor

Maybe the appraiser completely ignored that.. not sure

have there been any recent short sales or foreclosures in your neighborhood?

I had this happen once with a cash buyer. My assumption was that this is a tactic buyers employ to scare sellers into dropping the price.

The weak link is the appraiser. I've worked with many in the past who will work to find comps. But what's surprising to me is that either realtor or mortgage professional didn't communicate with him in regards to the purchase price and the situation.

Believe me this happens for anyone out there who says it doesn't.

You as the buyer or seller shouldn't be dealing with this. It points to incredibly weak professionals at the realtor, mortgage pro and appraiser level of your transaction. IMO anyway.

I'd reach out to a local appraiser on your own. Explain your situation to them. Ask them what it would take to pull a few comps in your area and help you figure out if the valuation on your property is accurate or the appraiser needs to do more work.

Offer to pay him for his time.

One of the things that has really become screwed up since I left the mortgage biz full time is the appraiser regulations. Feds installed firewalls between folks so they can't always communicate with each other easily when something dumb like this happens.

Best of luck. Good advice was given earlier in the thread. If you have your price in mind, stick to it and don't be afraid to walk from the deal.

Appraisers typically won't budge and act like you called momma a whore if you question their expertise. Best bet is to try and get a different firm to appraise. You have to be careful there though, if you request a particular one they usually won't use that one.

We have a firm locally that seems to always come up well short of everyone else.

Good luck.

Yes that is true as well. Can't disagree at all.

I appreciate the replies I've received in the thread.

As many people suggested, the appraiser isn't backing down from his assessment of the property. Going to try and meet halfway with the buyer, but if that fails really considering walking away from the deal. I don't have to get the equity out of the house so I'm considering letting this be my entry into the rental property world.