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Updated over 12 years ago on . Most recent reply
Request another Appraiser ?
I am working on purchasing a property in Souther California where we have reached the appraisal portion of deal.
A few days ago the appraiser - 3rd party person contracted by the bank - contacted me with the intentions of setting up an appointment to inspect the property. The appraiser was extremely rude, arrogant, and seemed like an unpleasant person. Personally, I did not appreciate his tone of voice, and he came off as if he was doing me a favor by conducting the inspection.
I have a specific number that I would like the property to be valued at, so I can qualify for a conventional loan.
Now, some might argue that the property appraising low gives me leverage to negotiate, but lets set that aside, because I'm not going to get a better deal.
So, I'm curious, are appraisals done strictly on objective figures, or does it entail a subjective portion that will bear weight on the final value? I ask, because I am considering requesting another appraiser, but I'm not sure how much, that would matter, if at all.
Can some people shed some light, possibly giving a bit of insight.
Thanks in advance