Appraisal: Does it ever come back HIGHER than you are mortgaging?

Original post by cluelessbride

Jun 10, 2005 08:35 AM

If so, what happens? Can you get a better rate or something?

LisaT Posted: Jun 14, 2005 10:05 PM

Re: Appraisal: Does it ever come back HIGHER than you are mortgaging?

Posted by exotica776

thank you so much lisat..... your knowledge is extremely helpful!!!!!

you're welcome! I'm happy to help

We bought our first house in September, so I know how nervewracking the process can be...

mrsmeri1104 Posted: Jun 15, 2005 10:55 AM

Re: Appraisal: Does it ever come back HIGHER than you are mortgaging?

Posted by LisaT

Posted by myasmom

Posted by mrsmeri1104

Ours appraised for $35,000 more than we are paying because we got a deal it is a family transaction!

isnt that illegal

thats not illegal - if the comps support a higher value, its a fair appraisal. Sounds like they're buying for less than market value, so I would expect the appraisal to come in higher.

YES EXACTLY!!!!!!!!

myasmom Posted: Jun 15, 2005 01:00 PM

Re: Appraisal: Does it ever come back HIGHER than you are mortgaging?

Oh no just checking..my friend knew the appaiser of her house..coincidence and he made sure it appraised for what she wanted. I was just trying to clarify.