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Originally Posted by Wagner
Still if you're buying your home you wouldn't pay the price if it was deemed of that value. So if an appraiser sets the value for you, regardless of purpose, you assume that value. If months later you're told the value was really 30% less, how is that possibly your error? You should have known the appraiser was misleading you  |
Surely there is more than one appraiser in this process. The real estate agent who listed it was probably the first appraiser. The purchaser has to have their representative look at it. And then the bank does a due diligence and has their appraiser in purely in respect of the mortgage risk. The onus has to be on the purchaser; if they didn't have their own appraisal, then shame on them.
I don't think it is anything to do with appraisers, it is simply both individual and systemic greed.
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2007 X3 3.0si, 6 MT, Premium, White
Retired:
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2002 325xi 5 MT, Steel Grey
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