va appraisal tidewater compliance, what is this?

Asked by Yoshi, 85339 Thu Apr 5, 2012

What is tide water compliance and if the appraisal comes in lower than the contract price how effective is a certification of value by the real estate company.?

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Lorrie Semler, Agent, Dallas, TX
Sat Jan 31, 2015
The Tidewater Initiative is only used with VA loans. If the appraisal comes in low, the appraiser may reach out to the buyer's agent and ask for comparables that support the purchase price of the home, comps that the appraiser may not be aware of. There are strict guidelines to be followed. I've never heard of a "certification of value" by a real estate company.
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