Appraisal problems. Where did that value come from? HVCC to blame?

I've never liked having to give the appraiser a copy of the purchase contract but I've thought like you, that it should be an 3^rd party unbiased opinion.

HVCC has absolutely caused problems. Still is a mess. We lost some good appraisers who simply won't work for crummy fees.

When the banks saw an opportunity for a new profit center, they pounced on it. Now the costs of appraisals to the buyer have gone way up, and the appraisers are making less.

I wonder where the difference is going? 

I'll help here. Into the bank's already bulging pockets. They are bigger crooks than ever. Public gets it in the shorts AGAIN.

Tony,  I have to agree with Aida that I would like to see the appraisal completed without the purchase contract.  It has really made any sense to me that the contract is required....but no one has made me King yet, so the contract is ususally required.

I remember having a ridiculous time with a appraisal (way before HVCC) because there was no contract.  Seller was selling to family member or friend.  There was no agent involved and both parties wanted to do the "right thing" by having the appraisal done and structuring the transaction around the value of the property.  Sounded pretty fair to me.  Get the value and I will prepare the loan and numbers around the actual value.  All was well and good until I tried to order the appraisal.  The guy actually argued with me that he could not give value without a contract or price expected.  I hung up and got in touch with a professional.

@Jon, I understand some of the ire at banks, but HVCC has nothing at all to do with banks.  In fract, none of us in the finance industry agree with HVCC and really dislike the process.  Banks make NO money from appraisals (per RESPA).  The increased fees are going to Appraisal Management Companien.  Essentially, HVCC just added a middle man to the process. And, you are right about appraisers leaving the industry.  Most of the good, independent appraisers got out of the industry...and we are left with the bottom half....which is really the reason Tony and others are seeking situations such as this post.