LM Is asking me to pay out of pocket for my own appraisal after theirs ???


I am putting together a deal for a short sale. The LM ordered an interior appraisal which came at $ 185 K., I have a friend appraisal who did a comp check and came out at $ 150 K. The LM will not accept my comps and told me to the official appraisal to compare with the one they did. I don’t want to spend $ 450.00 for an appraisal I am not sure the deal will go if I don’t have yet any end buyer line up. Could you please give me your opinion. I will so much appreciate it.

Adios all, ( Chao everyone !! )


Have you put together a report of comps, pics, decline in market etc to show the lender specifically where your numbers came from? That’s what I would do if not. And also ask how they came to that number. I know some "BPO’s Lenders etc using comps from early 07’ so they can show the greater value. Show them proof they are wrong and see what happens.