Appraisals Hurting Home Sale Prices

Home buyers should prepare for delays as mortgage lander order stricken appraisal reviews. As a local realtor here on Staten Island NY I have come across situations in my experience and other colleagues. Many time we as realtors negotiate and fight for our home sellers to get the highest possible market price for a home, showing comparable sold homes, using local data only to later face an inexperienced out-of-town appraiser who is not familiar with the local market, who has no access to our local multiple listing service and may be using foreclosure homes and distressed properties in their appraisal report which in turn provides an incorrect appraised value. This has become a common thread and is causing contracts to be renegotiated and broken in some cases. I have come across a video that explains in detail this situation that I want to share with you. Please click here to view