I feel like ranting this morning. I may be wrong and if I am someone please enlighten me. Appraised a single family residence for a construction loan 5 months ago. Let's say it appraised for $115,000 then. Now construction is complete and I appraised it again for a purchase. The purchase price is $111,500. I used newer comps this time and came up with a value of $113,500, a difference of $1,500. Lender wants to know why it appraised for less this time(I didn't tell them what it appraised for before, they got a copy somewhere). In my opinion it doesn't matter what it appraised for last time, it was for a different lender, different borrower and different purpose. What gets me is the fact that it is a difference of $1,500, what's the big deal. If an appraisal is an estimate and not a pinpoint value then isn't there room for this kind of change in value? Also, it still appraised above the sales price. Sorry for ranting but this type of thing really gets to me.