Is an appraiser generally more willing to appraise higher on a refinance than a purchase?

Asked by Sharla, 20603 Fri Jan 2, 2009

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4
John DeMars, Agent, West Orange, NJ
Fri Jan 2, 2009
An appraisal is an opinion of Value it does or should not change with the purpose of the appraisal. If you have an appraiser that is "willing" to appraise higher you should find another one. That appraiser has compromised the integrity of the profession.
1 vote
Jonathan S T…, Agent, Columbia, MD
Fri Jan 2, 2009
Susana,

They are not supposed to, but I have found they are more liberal on a refinance than a sale where two parties are interested. That being said, all appraisals are more cautious in a declining market. Let me know if you need help. Jon Tucker, 443.538.4316
0 votes
Jim Cavoto, Agent, Denver, CO
Fri Jan 2, 2009
if they do, they are not a good appraiser! and are the reason lenders are pushing for the lotery system for loans that should be up and going in the next few months. The value should be the value no matter what the purpose is.
Web Reference:  http://MortgageEtc.info
0 votes
Dallas Texas, Agent, Dallas, TN
Fri Jan 2, 2009
No not really the appraiser is held liable of all information true and correct report too lender.
Web Reference:  http://www.lynn911.com
0 votes
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