My home appraisal sucked.

By
Real Estate Agent with HomeSmart SA541769000

Old House

I don’t understand it. How could the home appraiser not see what I saw?

I searched high and low for the perfect house. Showing after showing, offer after offer.

Then one day I found it. The perfect place for me to lay my head. I don’t care if the paint is peeling. I can paint it to look like a quaint little English cottage. The single-pane windows will need to be replaced at some point but that’s something I can deal with later. Every house needs some work.

Even the junk cars parked down the street don’t bother me, much. They’re renters and I am sure they will be moving on soon. I heard the eviction notice has been served. That’s the thing about changing neighborhoods you must have patience.

So my offer went in along with one half dozen other bids, just in time to make the deadline. I didn’t sleep much that night. I checked my email every 15 minutes. It was after 9:30 am when the “you got mail” sound finally lifted my head from the desk.

“I got it!”, I screamed. “I got the house!”

Who cares if I had to raise my bid beyond what I could really afford? So what, the noise from the busy street is going keep me awake at night. I was going to be a homeowner. That is all that matters.

I asked my agent if I could meet the appraiser at the house to show her all the wonderful reasons why this house could be my home sweet home. My agent said, “No, that is not allowed.” Drat.

Now I don’t know what to do. The house didn’t appraise. I probably can get my deposit back, maybe? But then what?

I feel like I am back in purgatory. I can’t go up and I don’t want to go down.

Damn that appraiser. I paid 400 dollars for that appraisal. I want my money back.

 

Joe Domino is a Realtor® serving the Phoenix/Scottsdale area. Need more information? Or to Search for your next home, visit www.Scottsdale-AZHomes.com

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Comments (6)

Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Funny but yet probably not funny to some unfortunate buyers Joseph.  Do you write books too? 😃

Apr 21, 2022 10:59 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

It is a challenge when appraisals come in low.  I had that happen on one last year.  We took a chance and ordered a second appraisal and....it came in at value.  Appraisers do see home differently.  It is not a perfect science as I once thought.

Apr 21, 2022 08:03 PM
Anna Banana Kruchten CRS, Phoenix Broker

Raymond Henson, eXp Realty several years back I insisted on the 4th appraisal as I knew the first three got it all wrong.  And they did due to inexperience.

Apr 21, 2022 09:15 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Joseph Domino 480-390-6011  I had to laugh and cry at your post, now just to be clear if you would have used the BHHS affiliate lender Prosperity Mortgage..... they are paying for the appraisal to the buyers.... keep that in mind, Endre

Apr 21, 2022 11:03 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

That certainly would have been depressing; unfortunately it does happen that way!

Thanks for the story! I enjoyed reading it.

Apr 22, 2022 05:09 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Joseph - it's never easy to be a buyer in the real estate "game" and that's even more true when the "playing field" is more competitive.  Those who have been around for a while (and sometimes a shorter time too) will wisely report "it's not over until it's over".  Stuff happens.  

Apr 22, 2022 06:03 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

That is a very sad story Joseph. We were refinancing and the appraiser was sent from 5 hours away to compare our property to others in the area. He called, saying there were no comparable's at all and decided on a very low number. I did a re-buttle and a local appraiser was sent and the price came up to current market value!

 

May 10, 2022 05:33 PM