Appraiser pressure and where it’s coming from now

Where is appraiser pressure coming from now?  The same place where it has always come from, from those who have an interest in the property.  The most commonly known type of appraiser pressure is in mortgage lending where the seller wants the appraisal as high as possible and the buyer wants it as low as possible.  Let’s not forget mortgage lending also includes refinance appraisals where the borrower wants it as high as possible.

This is not the only area where appraiser pressure exists.  We also see it in private appraisals such as divorce appraisals, estate appraisals, bankruptcy appraisals and property tax appraisals.

In a divorce appraisal the person not keeping the property wants the appraisal high while the person keeping the property wants the appraisal low.

In an estate appraisal the sibling buying the estate wants it low while the sibling selling wants it high.

In bankruptcy and property tax appeal appraisals, the homeowner wants the appraisal to be as low as possible.

Chicago Appraisal

www.chicagolandappraisals.com

An appraiser is much like a referee and must be unbiased, independent, impartial and objective.  Appraisers do not provide opinions of value that are contingent on a predetermined amount or guarantee the outcome of an appraisal in advance.  Appraisers do not insure that opinions of value developed will serve to facilitate any specific objective or personal interest by a client or advance any particular cause.

As I stated earlier appraisers are much like referees, you’re not always going to the like the call they make, depending on your personal interest, but they will be unbiased and that’s what you want the game of real estate.

Did I leave anything out or do you want to join the conversation?  Let me know in the comments below.

Providing real estate appraisal services since 1999 with an array of experience in property appraisals that includes Divorce, Estate, Bankruptcy, Tax Appeals, Pre-Listings, Pre-Purchase, FSBO and more.

Our coverage area includes Chicago and the bordering suburbs.

For more information call us today at 773-800-0269.

Thanks for reading,

John Tsiaousis

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4 Responses to Appraiser pressure and where it’s coming from now

  1. Rachel Massey says:

    Nicely stated in simple to understand terms

    • Thank you Rachel, this post was inspired by a fews call I received by prospective clients who were looking for an appraisal to favor their cause. I thought short, simple post would be helpful for those seeking home appraisal services.

  2. Thank you for sharing John. You nailed it. From my perspective, appraiser pressure is not too bad these days. Prior to the mortgage collapse, I would get daily calls from someone asking me if I could get to a certain value on a property. Those calls are almost nonexistent today.

    • I agree Gary, not as bad as it used to be. I’ve seen a number of those types of calls in the last month than I have over the last several years, it will be interesting to see how things continue.

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