Mike Kennedy
Elite Member
- Joined
- Sep 28, 2003
- Professional Status
- Certified Residential Appraiser
- State
- New York
[URL]http://www.mortgagenewsdaily.com/05302017_appraisals.asp
A prevalence of higher-priced comps could lead to higher-than-purchase-price appraisal conclusions, but value adjustments to make the comp similar to the subject could, and in fact is supposed to, negate this effect. Adjustments that are inadequate to inconsistent, Mayer says, could partly explain why appraisal valuations tend to come in higher than the subject's contract price.[/URL]
A prevalence of higher-priced comps could lead to higher-than-purchase-price appraisal conclusions, but value adjustments to make the comp similar to the subject could, and in fact is supposed to, negate this effect. Adjustments that are inadequate to inconsistent, Mayer says, could partly explain why appraisal valuations tend to come in higher than the subject's contract price.[/URL]