Dallas Real Estate - Appraiser on the Watch List
By Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator
(Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com)
It seems as though I'm not "allowed" to have a smooth transaction. I posted a few days ago about a situation where the buyer wants to meet the seller for a final walk through before closing. Boy did this almost blow up this week.So, the lender had 4 appraisers take a look at the house, and we let the listing agent and her sellers pick the final appaiser. Even the highest appraisal was $10k below our sales price. After 3 days of bickering on both sides, the sales price was lowered to the appraised amount and closing costs were reduced.We put the appraisal into underwriting, and low and behold, the appraiser is on the Lender's "Watch List" from 2004. What could he have done in our market in 2004 to be on a watch list? Our market hasn't had ridiculous appreciation like other markets...