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Updated about 1 year ago on . Most recent reply

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Christian Smith
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2 Appraisals 20,000 difference

Christian Smith
Posted

Hello I was attempting to refinance my home and received a FHA appraisal less than 30 days ago. Decided to do a conventional loan instead so a new appraisal was ordered and came in 20,000 less than the first one. There are some inaccuracies including the 1st comp used last sale amount wasn't used and that was a difference of 74000 in sale price. The 2nd comp used was for a house that was in probate and was sold under market value for its characteristics. What is the best and fastest way for me to get this handled and hopefully a reconsideration of value. I appreciate any advice. Thank you!

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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
Replied

@Christian Smith why didn't your lender just change your FHA appraisal into a conventional appraisal? That would seem like the easiest fix to me.

  • Andrew Postell
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