No. of Recommendations: 1
I have a simple solution to the concern about appraisers simply "ringing the bell". Yes, it's always amazed me too that such a high proportion of appraisals come in at the selling price. What a coincidence!?! <GG>

So, just don't give the appraiser a copy of the contract before he/she does the appraisal. If they don't get it from the lender, they always ask the Realtor for one. Interestingly, they only want the page with the price. I wonder why??? If they don't know the sales price, they will have to actually do a complete market analysis and come up with an independent value (what a concept), rather than finding comparables to justify a target price.

I've put forth this idea many times but to no avail.

The whole purpose of an appraisal is not necessarily to protect the buyer, but to protect the lender in case of default. It's something for "the file" so they can package the loan and sell it.

Sorry about the cynical attitute but this has been a concern of mine for years.

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