STUCK IN APPRAISAL HELL!!!!!
By April Solomon, Broker/Realtor/GRI
(Keller Williams Professionals)
Having qualified conventional buyers with 20%-25% down instead of the customary FHA or VA buyers. Finding yourself and your buyers caught in appraisal hell. Your buyers have chosen the home of their dreams and have made offers that both the sellers and buyers have agreed upon, then when the appraisal is performed only to find out that you are $15,000-$25,000 different. So you think that maybe switching lenders will be the answer. Wrong, all of the lenders are using the same pool of appraisers to perform the appraisals so there will be NO difference or significant difference in the appraisals. Now you find yourself dealing with two aggravated parties the seller who thinks the property is worth more and the buyer who has just spent $595.00 on a appraisal to find out that the seller i...