Home     Law Advice     Insurance Advice     Community    
Go Back   FreeAdvice Legal Forum > REAL ESTATE LAW > Buying & Selling a Home

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 05-09-2004, 07:41 PM
2699hb
Guest
 
Posts: n/a

Incorrect Appraisal


What is the name of your state? North Dakota

We are purchasing a home and the appraiser that just appraised the property did it incorrectly. He says the house is smaller that it is. He said that the applicances are not included even though the purchase agreement that he has a copy of and included in the appraisal list's that the appliances are included. The seller has a copy of his original appraisal from 2 years ago and the recent appraiser has the house listed as much smaller than what the original appraiser did. The seller also measured and the appraisal that was just done is wrong. So as a result the appraisal came in lower than the purchase price. Do we the buyers, or the seller have any recourse against the appraisal company for this? Can we ask for another appraisal and specify the appraisal company we want? If we can get another appraisal, who is responsible for the cost? Thanks.
  #2  
Old 05-10-2004, 08:44 AM
Member
 
Join Date: Feb 2002
Posts: 517
Your first step is to provide evidence of the correct square footage to the appraiser (Does the Town have a record?) and point out that the appliances are included. He/She can then reconsider the value based on this information.
  #3  
Old 05-10-2004, 10:02 AM
Senior Member
 
Join Date: May 2000
Location: Catatonic State
Posts: 75,781
And the mortgage lender chooses the appraiser not the applicant borrower.

Last edited by HomeGuru; 05-11-2004 at 09:44 AM.
  #4  
Old 05-10-2004, 04:53 PM
Senior Member
 
Join Date: Feb 2003
Location: Oregon
Posts: 1,687
Send a message via AIM to Souix Send a message via Yahoo to Souix
I've had appraisers goof up transactions and it is a very simple fix. Just ask your Realtor to call the appraiser and calmly discuss the discrepencies. Then if the appraiser still will not budge on the value, you can renegotiate the sale with the seller. Have your Realtor prepare an Addendum with the new price if it is agreeable to all parties.
__________________
Many receive advice, few profit by it......Publilius Syrus
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 07:11 AM.



IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.

F
reeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.