1,093,355
That's how it should be. For a refinance you can't give an appraiser a 'target', I'm not sure why it's different on a purchase. Makes no sense.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Roy Kelley
Gaithersburg, MD
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JoAnn Moore
Georgetown, DE
1,472,185
Wow - are markets are sooooo different! Rarely are appraisals ever required up here. Only for something that is so unique that it doesn't fit into criteria used by the lenders. (good luck even finding comps!)
Should an appraisal be necessary, never would an Agreement of Purchase and Sale be asked for let alone required.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Roy Kelley
Gaithersburg, MD
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Susan Emo
Kingston, ON
4,273,331
I have found several lenders supplies the appraiser with the P&S agreement; not just the address...
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Tony and Suzanne Marri...
Scottsdale, AZ
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Roy Kelley
Gaithersburg, MD
1,870,553
Yeah & then he could just go find it outright in the public records somewhere. Unless it's closed though, who cares? Contract for a house that isn't closed is not a comp he could possibly use.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Roy Kelley
Gaithersburg, MD
6,006,028
I have had to send the contract to the appraiser when they have said they have not received it, or the counter.
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Tony and Suzanne Marri...
Scottsdale, AZ
979,796
Tony and Suzanne - Well, should and will are two different things. I would imagine appraisers would not like it if the purchase price was redacted.
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Tony and Suzanne Marri...
Scottsdale, AZ
8,153,130
Based on my experience as an appraiser, you would be discredited if you provided an edited document.
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Tony and Suzanne Marri...
Scottsdale, AZ
634,582
5,116,842
I doubt an appraiser would accept a contract like that.
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Tony and Suzanne Marri...
Scottsdale, AZ
617,985
Tony and Suzanne,
As a former lender and longtime broker that wouldn’t work for any appraiser I’ve ever worked with.
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Tony and Suzanne Marri...
Scottsdale, AZ
6,689,449
2,538,789
Good morning Tony and Suzanne Marriott, Associate Brokers. No reason not to share the P & S, also how about sharing some comps to make their job easier.
4,322,035
Tony and Suzanne Marriott, Associate Brokers I somehow do not like the idea of sharing the agreement with purchase price in it with appraisers....
What's the point in letting them know where the appraisal value should be?
2,707,826
3,988,138
Appraisers in my area want to see the contract so they know the conditions and what is remaining with the property. I know they can't help but use the sales price as their target range.