The Appraisal Game

Dated: November 25 2015

Views: 880

Consumers often believe that appraisals are the absolute gospel truth about a property’s value. 

If the appraiser says it’s worth X, then it surely must be worth X. Not so fast. 

Those of us in real estate know that appraisals are subjective and that they are simply one person’s opinion of a property’s value.

Skilled, experienced appraisers know many subtle ways to “adjust” comparable sales to come in with a value equal to the sales price.

And, appraisers are under enormous pressure to “bring in the number” on appraisals because they know they won’t see any more appraisal business if they start screwing up loans for the lender giving them their appraisal assignments.

The best indicator of a property’s value remains what we all learned in Real Estate:101 ~ it’s worth what a willing buyer will pay for it.


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Richard McKinney

I have been selling real estate in South Florida since 1998 with a specialization in homes, town homes and condos in St Lucie and Martin Counties. My service areas include the cities of Port Saint Luc....

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