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Post Completion: Contract Change = New Seller Credit

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Ca Ar Independent

Senior Member
Joined
Sep 24, 2011
Professional Status
Certified Residential Appraiser
State
California
UGH. I hate it when they do this. Realtor calls, "we got your appraisal but we forgot to send the lender the new contract addendum". Old contract price was $299,900. Property appraised at $300,000.00 (adjusted values $300/$296/$299). New contract price is $307,000 with "$7,000 seller credit to buyer". ARE YOU KIDDING ME??? Realtor and lender of course ask "well can't you just change your value because we have a new sales price?" Um...no. The appraised value is the appraised value. I told them to file an official ROV request and provide comps for my consideration. NO I can't just "retrieve it" from the portal (they asked) and NO I can't just "change the value" to reflect the sales price. VA loans are 100% LTV but let's get the lender on the hook for the closing costs too! :alcoholic:
 

bart nathan

Member
Joined
Jun 9, 2005
Professional Status
Certified Residential Appraiser
State
California
Any client of mine that would ask me to change value would no longer be my client.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Just say no, tell them to deal with the lender, nacho prob
 
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