@ThinkAppraiser@N8RealEstate This also made it through at least 2-3 people before the end user sees it. Mortgage underwriters don’t want values to be off, it screws up the deal. If they find glaring issues it won’t even make it to the loanee.
@ThinkAppraiser@N8RealEstate So we’re assuming on an investment property they don’t have 10% down? Lenders are granting them at 97% LTV right now on secondary mortgages
@N8RealEstate@ThinkAppraiser Everyone who owns a house thinks it’s the highest quality and best condition. There’s an idiot in these replies who said they added 5,000 to each unit and got higher rent than the appraisal by a couple hundred bucks. No shit, you improved the property.
@meetmikehiggins Bad appraising practices happen, but how is there a $50k swin from your numbers. It’s a scam that a realtor is willing to list a property 18% higher than your own evaluation. If the underwriter disagreed with the appraisers findings, they would have ordered another.