Comments on: How to Get a Property Appraisal

on 8/10/2007 Many appraisers tried to place a fair market value on housing during the recent real estate boom and were hammered by the buyer, agents, and loan officer when it came in below selling price. and appraisers lost work due to their ethics. Now many of those buyers are in default due to overvalued loans on undervalued homes. Good, responsible and ethical licensed appraisers do not make the appraisal estimated market value at purchase price unless the value is there.
Jeanne Michael, CA REA www.msrvalue.com in California

on 11/22/2005 If the appraisal comes in at the purchase price, it is probably a reflection that the purchaser paid a fair price. If the property was marketed properly at a reasonable asking price and was exposed to the market for a reasonable time, it makes sense that it will sell for its market value. Estimating market value is the purpose of the appraisal.