Take that HVCC-Fighting the Appraisal War and Winning

Over the course of the this year as agents lamented the HVCC changes my listings quietly went to closing with no problems.

This week one of my new construction listings hit the dreaded appraisal snag.  The original appraiser consider that the sales price for a water view unit with a big balcony and upgrades was worth the sales price of $370,000.  However three desk reviewers disputed the value and were trying to push a lower value.

The first phone call came from the original appraiser asking me for additional information to make sure he hadn't missed anything in his report.  Then the second call came from one of the desk reviewers who asked about price changes, location of various units in the building and concessions.  The final call came from the "head" desk reviewer.  Answering most of the same questions and more I began to have a sinking feeling in my stomach that the dreaded appraisal curse had finally hit.

This morning the buyers got a clear to close with the contract sales price.  I've managed to shake the dreaded appraisal curse once again.  With only two more closings on the schedule for this year and only one of those with an outstanding appraisal I'm starting to feel a bit cocky.

Thanks Santa for another great present under the tree!