Krystal Schware, PA CREA
The Appraiser Is Not Your Enemy
Updated: Jun 5, 2020
Let the appraiser help save the financial future of your family. The appraiser is not your enemy. We are here to protect you.
There is NO SUCH THING AS A LOW APPRAISAL. Please repeat that sentence, over and over. Our appraisal's purpose is to keep you from being ripped off or robbed, financially. We are your only line of protection from being grossly 'overcharged.' We are the only party in the transaction that has zero bias so our results are an accurate analysis of the home. We don't get paid more or less, based on higher or lower value, like some of the other interested parties do.
There are, however, homes that are overpriced. And there are realtors and sellers who benefit from a higher sales price. People with a personal, vested interest in getting every dollar they can, right or wrong. (Let me add that there are good realtors out there- I am not saying all are bad.) Any realtor that automatically blames the appraiser for 'killing your deal' is a not a good realtor. They are either consciously unethical or not properly educated in how the process works. They do not have your best interest at heart if they have no concern about you and your family taking a huge financial loss just to close the deal and get a commission.
The purpose of an appraisal being ordered by a lender, for your mortgage, is to protect them from funding a bad investment; a home with a mortgage higher than what it is worth. The banks know that is a bad investment, which is why they 'kill the deal.' This is also your head's up that it is overpriced. If your home 'doesn't appraise' that is because it isn't priced at market value. The proper, ethical way to move forward, is to renegotiate the sales price. If you take part in your realtor or lender finding an appraiser to 'hit the number' or 'hit the sales price' just to make the deal work, you have just been made an intricate part of a Mortgage fraud scam. I'm not a fan of wearing orange, personally. I sure hope you aren't either.