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Originally Posted by JCL
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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Wow, so the assumption is that every home buyer has some over-ridding knowledge of property value? Amazing.
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