ASKMcKeever

ASKMcKeever #1: My appraisal came in LOW on the home I'm selling. What can I do keep the transaction together?


Answer: Look for more comps. This is the most obvious answer. But, Believe it or not many appraisers are not from the area that where the home is being sold. Do the extra work and read their appraisal report and see what comps they used. Do your own homework.

After speaking to a local appraiser, I was told appraisers can use sold homes up to 1 mile from the home and within the past 12 months! This can open much more data and comps to submit to the lender for reconsideration of value (ROV).

 






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