Appraiser Didn't Use More Recent Comp Favoring A Much Older Lower Sale

[Tim The Enchanter]

he replied saying he was unwilling to adjust the value of the home. He said he looked at the comp we provided and while it was a good comp -- it would not adjust his opinion of value since he would adjust out for the garage and other items in the house that he felt were superior like granite, etc.

This seems reasonable to me. Sounds like something I would say.
The appraiser had to know if the appraisal is below the contract, there will be questions and hassles.
Might have been better if he put the higher comp in, and adjusted down. Result would be the same though.

 

[residentialguy]

sorry too mr residentialguy. somehow, i started to channel a dead uspaper who was a perfectionist. i soo agree with you. just like to SHOUT some of the absurdities, i mean vague rules, that we can all be hung with if a board so decides. by the way, you do know you can't do a comp check for a loan officer without having a workfile. i bet you do. also, you were bragging about your house value to use, weren't you.

If they ask for a comp check, you now have a client who gave you an assignment, so yes, you would need a work file. However, if there is no client asking for an appraisal on that property, then no work file is needed on that appraisal.

And what's with the snotty kid response. Good grief, grow up...learn from criticism