Reconsideration even if waiving appraisal contingency

[J Grant]

Or..... they might simply think that you got it wrong.

lol bet they wouldn't think he got it wrong if the sale price was met.

Though its possible. We never know the reason. All we can do is address the comps and info they send and return it and explain why we did not use the comps they sent, which typically are cherry picked to hit a value in an ROV situion.

 

[Tom4value]

Or..... they might simply think that you got it wrong.

Bingo!
There are many reasons but sometimes it is, "look, I paid for a competent appraisal. I want a reliable, accurate appraisal."

 

[Tom4value]

lol bet they wouldn't think he got it wrong if the sale price was met.

Though its possible. We never know the reason. All we can do is address the comps and info they send and return it and explain why we did not use the comps they sent, which typically are cherry picked to hit a value in an ROV situion.

Actually, a fellow appraiser I know DID get beat up because he agreed with the sales price!

A bit off topic here as not the same situation but back when things were crazy, a buyer, through their buyer's broker, said he was "nuts" and "didn't know the market", even though they made the offer! Seems they wanted the highest offer to beat out the competition, not thinking they would actually have to pay that much because they were banking on the appraisal not coming in. Then, they could re-negotiate the price. Classic case of play stupid games, win stupid prizes!

 

[The Bob]

The borrower would still rather use other people s money but will pay their own funds in to make the sale price if they need to ( since they signed an appraisal waived )

^^^^
This.

I've a had a number of these where they waive the appraisal to secure the deal, but they still want to finance.

 

[NJ Valuator]

Is this something you had to deal with or a hypothetical

real life experience

 

[Joe Flacco]

They waive the appraisal contingency to make the offer more attractive. Not because they don't care how much the cash to close is.