Appraisals are still giving us fits. I just had an appraisal come in $50,000 below contract price. The home we HAD under contract was in great condition. One of the sales comp's he used had a backed up septic system, no well on the property, no shared well agreement for the well it is using and a leaky basement. No adjustment was made for any of those issues. Another one of the sales comp's was built right on the edge of the road. Again the fact that the house was just a few feet off the pavement of a two lain county road was not considered.
The appraisers go in the house they are appraising but most of the time they have never been in the comp's they use. As you know even if two homes look similar on paper such as age, square footage and thinks like that that does not mean they are in the same condition. The homes that have been well maintained are having their price dragged down by similar homes in poor condition.
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