Real Estate Blog - This is getting ridiculous.

Home : Blogs : Geoffrey Davis : Geoffrey's Blog

This is getting ridiculous.

This is getting ridiculous. In the past 2 weeks, two of the appraisals we received back for loan transactions we are working on fell short of the estimated value. Please read about what this HVCC law has done to the loan process and consider signing the petition on that site. Your home value might be next.

Hope next week goes better with this system. Just having the hardest time with this new law- are you also?

Posted by Geoffrey Davis on 09/29/2009 11:17 AM

Comments (4)

this is getting ridiculous

4 Comments on This is getting ridiculous.

SEP

For the most part we have had good luck with the Middle man. it is a pain in the neck that we have to talk to a middle man for issues like repairs or appraisal contact, all a big waste of time. The system has just added time and increased costs to the buyer.

I did have one under appraise, but after reviewing the appraisal it is hard to argue it. Some times people do just pay too much for a home. Most have actually been coming in a touch high.

This is why banks are not accepting offers for over list price - they don't want the appraisal to come in any shorter than list. Mkae your offers strong with less contingencies and more cash - not higher prices

Geoffrey, as I understand it the NAR is trying to get a moratorium on this law as reported in the Realtor magazine recently. Lets hope they succeed.

I know the feeling I had the same thing happen to me; fortunately the seller came down to the appraisal price.

This blog does not allow anonymous comments