- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How accurate is a home appraisal for the mortgage company?
Posted on 11/20/20 at 3:41 pm to ItzMe1972
Posted on 11/20/20 at 3:41 pm to ItzMe1972
quote:
Not clear if you're selling or buying. Please clarify.
I bought.
Just seems odd that there could be such a discrepancy between that house and mine and I’m skeptical that the appraisal was dead on the sales price which was even at a discounted number due to not using realtors.
2
Posted on 11/20/20 at 4:01 pm to StringedInstruments
I bought.
Just seems odd that there could be such a discrepancy between that house and mine and I’m skeptical that the appraisal was dead on the sales price which was even at a discounted number due to not using realtors.
----
The appraiser wants to make sure the mortgage company is protected in case of foreclosure. The appraisal is an opinion of the value on the date of report.
As long as the sales price and market are close, the appraiser will approve with a price that works.
In the old days, they would give actual value. Then they moved on to bumping the price a little over sales price to appear as if they were not just matching. My daughter is closing on a house in a couple of weeks and the appraisal matches the sales price.
Don't feel bad. It's just the way the process works. Congratualtions on your new home!
Just seems odd that there could be such a discrepancy between that house and mine and I’m skeptical that the appraisal was dead on the sales price which was even at a discounted number due to not using realtors.
----
The appraiser wants to make sure the mortgage company is protected in case of foreclosure. The appraisal is an opinion of the value on the date of report.
As long as the sales price and market are close, the appraiser will approve with a price that works.
In the old days, they would give actual value. Then they moved on to bumping the price a little over sales price to appear as if they were not just matching. My daughter is closing on a house in a couple of weeks and the appraisal matches the sales price.
Don't feel bad. It's just the way the process works. Congratualtions on your new home!
Posted on 11/20/20 at 4:07 pm to StringedInstruments
You bought a house that appraised for what you bought it for, but you think it should have been higher? I wouldn't complain, you will be paying less in property tax, that you believe you should.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News