1,544,604
VA appraisals can be a pain, but even regular ones are too if you get some appraiser with a chip on their shoulder or an axe to grind. A range wouldn't solve anything, as Annette Lawrence , Palm Harbor, FL 727-420-4041 said. They'd just make the top of the range the same as what they would have come in at anyways.
Just like range pricing on a home, no one is going to offer more than the lower number.
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Inna Ivchenko
Encino, CA
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Nina Hollander, Broker
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
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Michael Jacobs
Pasadena, CA
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Candice A. Donofrio
Fort Mohave, AZ
259,417
VA is tough as their guidelines must include a distressed sale. which automatically lower than other forms of finance..
Would rather see that rule changed
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Joseph Domino 480-390-...
Scottsdale, AZ
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
2,715,178
Realtors do price ranges (on CMAs); appraisers almost always pin it to a specific dollar amount (opinion of value). Challenge it, using other comps.
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Candice A. Donofrio
Fort Mohave, AZ
5,534,990
It isan opinion based upon interpretation of the facts. The process to dispute the result needs to be fixed.
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Nina Hollander, Broker
Charlotte, NC
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Greg Large
Grove City, OH
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Michael Jacobs
Pasadena, CA
1,108,628
No, I do not. There's too much potential for wrong there! Just give us a value and hopefully we hit it.
PS. If it's VA, why aren't they invoking Tidewater before they bring in a low appraisal?
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Nina Hollander, Broker
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
3,441,595
My sense is that IF there were a range ... the lenders would go with the low end of the range and it will not end up serving any real purpose.
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
8,210,983
2,864,101
It makes sense if for only this reason: They are only good for the certain time they were done it but we all know Real Estate doesn't stand still. A spread would allow some flexiblity and more staying power besides the moment
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Nina Hollander, Broker
Charlotte, NC
5,585,039
5% is a very large variable.... appraising in not an exact science .... there IS opinion involved....but I'd rather see a 3% variable in price range from one appraiser to another....
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Nina Hollander, Broker
Charlotte, NC
4,774,842
5,159,479
921,504
I don't think a range would solve anything.
The top end would be identical to what is currently in practice.
Agents need to protect seller by removing VA appraisals (and the bank) out of the negations. Even more important, the agent needs to PROTECT their sellers for the enduring appraisal from FHA.
DO not allow your seller to be HARMED by the finance choices of the buyer.
OF course if the agent is working with the buyer, the agent may welcome the price beat-down.
My take is FHA, VA place their buyers at a real competive disadvantage. That means the prime target house to purchase is the flipper.
PS: As I think about this more, I see an even worse situation being created. That is 'What will be done with the low number?" I suspect the banks will love that number even more. And should it coincide with the random number from the evil empire, the poor buyer will be impaled by a tapered shaft wrapped by in inclined spherical plane.
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Michael Jacobs
Pasadena, CA
1,045,965
I'm not sure I understand an appraisal is suppose to state the value the bank will consider that property for loan purposes... a range wouldn't provide that and still it would have a max...presumably that max is what the appraisal represents now.
A change I would like to see would be that the Appraisers do NOT receive a copy of the contract
6,041,450
I believe if you had two appraisers in the same property you WOULD have a range, but that isn't how they do it, unfortunately.
3,986,479
3,074,716
4,273,331
1,468,095
My opinion relative to appraisals does not carry any weight with lenders.
6,743,921
4,322,295
Christine Kankowski North SD and Temecula - VA appraisals are a challenge for sure.
Good luck.
3,988,144
It all depends on the appraisers viewpoint, AMC and underwriter. It can swing in both directions.
1,655,212
Well, this Q reminds me sites that tell: the offer will be accepted in this price range (...), I just see the lowest number.
5,364,612
Absolutely so long as lenders and buyers are fine if the sale price falls in the range... when we price houses we know there is no one perfect price... we also price on a range.
1,267,193
quick sale. 90-120 day sale 120-180 days sale ....
In our area most are sold first weekend and the lenders want 90-120 sale value.
935,708
It's a matter of interpretation, and many other factors. I've had a VA appraisal come in 15,000.00 above contract amount. Pecentages can be manipulated, so can't really go by that. Any many time, the appraiser is correct on their value, and the agents are wrong. I constantly see listing riders that say "Reduced", New Lower Price", " Improved Price" because agents thought the property was worth more than it actually was.
398,537
It is an interesting proposition, but lenders would always take the low end so the result would likely not be as intended.
509,499
Appraisal is an opinion of value and between one appraiser to another on the same property at the same time can differ. With VA and their strict rule is little tough. So sorry. I've had that back when the market was slow nationwide but it wasn't that slow in certain area in Dallas. Both the lender and the appraiser couldn't care less.
5,774,106
I agree with Annette Lawrence , Palm Harbor, FL 727-420-4041 and everyone else who agreed with her, A