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Appraisal

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  • #1

    Appraisal

    Our appraisal came back 300 sq feet under what was listed on the MLS. It said (approximate) but had the source as their appraisal. Is a discrepancy like this normal?


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  • #2
    Ours was about 200sq ft under. We contested but the appraiser didn't care and wouldn't change it. I guess they take their own measurements and go by that. Is the appraised value under what you're paying then?

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    • #3
      Appraisal

      No. We're paying 20k under appraisal, 300 sq feet just seemed like a lot to me.


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      • #4
        It's good that it doesn't effect appraisal price. In that case, I wouldn't ask for a reconsideration. Our realtor and loan officer both told us that appraisers are doing what they can to bring down appraisals after the housing boom. Seemingly this includes making errors in the square footage. If you ask for a copy of the deed, it should have the correct square footage. We got hold of the house plans and it was the same size as the MLS.

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        • #5
          Ok thanks for the tip. The owners very well may have the house plans they bought it right after it was built. They're meticulous so I'll see what they have.


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          • #6
            They probably do so! Appraisal is pretty much the last hurdle, so exciting!

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            • #7
              Supposedly we are closing the last day of May!


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              • #8
                Oh wow! We have a month to go, can't wait!

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                Student and Mom to an Oct 2013 boy
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