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Just had a client's property appraisal come back $20k under our agreed price
It happened yesterday on a condo listing in Springfield. I'm re-running comps and talking to the lender to see if we can challenge it before the deal falls apart. Has anyone successfully appealed a low appraisal recently?
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charlieh7411d agoMost Upvoted
Did you find any better comps you can send over? I got one adjusted last year by just hammering the lender with new data.
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hernandez.gavin16d ago
Man that's rough, did the appraiser use any weird comps? I fought a low one last month on a townhouse. We sent over three better sales and a list of upgrades, and they actually bumped it up enough to save the deal. Keep pushing with your lender.
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beth_kelly16d ago
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Yeah "save the deal" does sound like a movie tagline. I was having a real moment there. Gavin's right though, you gotta push back. I once sent an appraiser a novel about why my client's ugly backsplash was actually a feature. It did not work.
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