Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in 36507 : Real Estate Advice

  • All1
  • Local Info0
  • Home Buying1
  • Home Selling0
  • Market Conditions0

Activity 1
Thu May 5, 2011
Dan Tabit answered:
Carol,
Appraisals are not divinely inspired documents, they are opinions of value. They are more detailed that a typical agents Comparative Market Analysis but not necessarily more accurate. Two different appraisers can have two different opinions, but when it comes down to it the lender has to feel like there is enough value for them to make the loan.
In your situation we don't know if the 2010 appraisal was high, the new one is low or if both are accurate. Your lender can request an appraisal review, you can have the agent go over the comparables and see if the appraiser used the best comparables available or if they can suggest better ones.
I hope everything works out for you.
... more
0 votes 2 answers Share Flag
Search Advice
Search

Followers

50