Random home appraisal question

[twinsmom]

Hey, I have a random question for anyone - we are right in the middle of a huge house-selling mess. I'll give the reader's digest version to get to the question.

Okay, the house was listed with an agent - she found a buyer at the beginning of February - the buyer had problem after problem with the mortgage... yada yada yada - and we finally said that we've had enough two weeks ago and decided to go on our own (our realitors contract ran out on April 2). This buyers agent had an apprasal done on the house and it appraised fine.

We go with a different buyer (for sale by owner, which means no commission and would be a difference of earning 3,000 on the deal as opposed to losing 1000 with the other deal, so we are really excited about his offer). But I get a call today from the mortgage agent saying that the person who they usually work with to do appraisals couldn't get the appraisal high enough for the purchase (the appraiser didn't go to the house, just did neighborhood comps).

The difference in the two appraisals is about 20,000!! I can't believe how the whole system works - it all seems so subjective with these things.

So my question is this - is there any way to find out who did the first appraisal? The mortgage agent told me that if we could find the company who did the first appraisal, she would just buy that one and go by it. So far the only person that I know who has access to it is the original buyer's agent, who is LESS then willing to work with us on anything in this matter.

I am ready to pull my hair out over this whole ordeal!! Is there anything that I can do to find out who did the first appraisal?? Thanks for your help!

Jen B

Is there any way to get another appraisal? Even if you offer to pay for it -- with the condition that the appraiser actually look at the house?

The house we sold and bought were both appraised and in both cases the appraiser came to the house, took photos, did a little report, etc. I don't know if that is the norm, varies state by state, or what but I think it's reasonable to expect them to at least look at the house!

btw, do you think they are trying to pull a fast one on you to get a lower price?

[Meenah]

You cannot do an appraisal without seeing the property (Ithink). Call another company and ask them if you can have an appraisal done that way and I bet you find out for sure.

It does vary state to state, and mostly by lending institutions. Our first house was appraised by comps, someone just drove by and looked out a window, snapped a couple shots from the street and then did the paperwork. Our current home was appraised with a magnifying glass...I think that it has a lot to do with the way homes sell in this area.

I am sorry, I don't have any great advice to help out. Obviously you didn't get a copy when it was done....can you have someone call them and ask who that realty office uses for appraisals, to just try and get some names to call? I know that seems like a shot in the dark, but you could get lucky.

[Cumberland]

I thought they need to come into your house and see if you have stainless steel appliances and granite countertops vs formica and 1960s brown or hardwood floors vs builder's grade carpet. That goes into the value right? If not, then what I am slaving over my house every weekend for!