Congratulations,  John.

We have had a few times we have won the appraisal debate. The challenge after that is for the lender's underwriter to accept the changed figure.

We have successfully challenged appraisals on several occasions. Never seen 100k discrepancy though. Wow!

WOW!  This I have NEVER heard of or seen.  You've found a real unicorn of an appraiser!

Never had the appraiser change their number, we have however gotten a 2nd appraisal & that came in where we needed it to. That's great stuff right there!

WOW!!! Congratulations!

I have not.

Yes it is rare & congratulations that they said they did anything wrong. 100K is really a mistake if you ask me.

You were sure of the value, found comps that supported the price and probably presented it in a very logical and kind way.  Great way to end the week!

Congratulations, John Meussner! Yes, I've had that work out for me as well but, not nearly as often of recent as the number we used to see changed.

Miracle indeed.  Kudos to the appraiser for correcting. 

Very good news that you close the transaction.

Thanks for sharing your experience.

I have had that happen, John... not often... but from time to time. 

Michael Jacobs nailed this one!

John Meussner - happens, Miracle? No, it is your hard work.

I have helpe appraisers with comps several times.

Nice, John. That would be a miracle in my market. 

WOW that is great when they actually fix their mistakes. I had a similar appraisal 100k short that killed our deal. 

Never that big of a difference. 

Rare, but it happens. I had one admit he looked at the wrong contract when determining value and admitted it, but we still needed a second appraisal to finalize the value. 

    I recently got one bumped up after submitting some additional comps... but the appraiser did not admit that she was wrong. 

    Congrats on your success!

congrats, it is rare but have successfully challenged a couple of times myself, most of the time they seem to dig in their heels no matter how much documentation provided to show value, hope the adjustment is enough to make your transacton work.

that's happened to us in previous markets but we've not had to deal with yet in this market....

Nice to see things work out.

A TIDEWATER Moment 

Whoa! on so many levels!!  To come in that short, to have value raised, and hence admitting an error . . .  amazing John Meussner!  Personally I have never seen this - Thank heavens for doing your homework and saving this sale!  

I have had reviews for about $10,000. This amount is obscene.

Good job John!!

That has happened.

However, the stage was set for a gracious adjustment without an admission of wrong-doing. 

Every once in a great while, an appraisal might be revised. Good for you- a $100K shortfall is a lot.

Congratulations! 

There is a guy I would use again. Mistakes dont bother me just make good

no, I've never seen one admit they could have made a mistake.

Always good when we can be big enough to admit when we missed something.

Glad to hear it's sounds like it's working out, John Meussner! - Tim 

Comps are comps and they tell the story. 

Great. Often it is settled with another appraisal. In our area most accepted homes prices are way way way over sold data, most buyers used to release appraisal contigiency.  To show they are serious often there are no contigiency on most offers. Seller gets to keep the deposit if borrowers can not close in 21 days.  

John

Yes, I have.  It is nice when someone can admit their mistakes. A

Congratulations 

It happens.

That is a first in  my book!

Good news. Haven't had an issue like this with an appraisal but good to know.

Been some time since I won a dispute with an appraiser!

No, usually don't have troubles with a value.  Recently we did, the appraiser did not change anything, and all parties filed a complaint.

Good job! Congratulaitons, John Meussner 

I have seen this John.  We had an appraiser come in $ 60,000 short despite being given comps.  He wasn't familiar with the area and the fact that certain subdivisions just sold for more.  The buyer complained and paid for a second appraisal and the second one came in $ 60,000 higher.  But, only once have I seen it.

Well done!