Mortgage Grapevine poster Vinnie the Leg Breaker has come across a problem in recent weeks involving Realtors and home valuations. He writes that in the past six weeks, he has received four appraisals below the contracted sales price and in each of those instances he does not feel he can mount an argument to what the appraisers’ conclusions were, no matter how the Realtor feels.
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As one response noted, because of the inventory shortage, prices may have risen faster than the data used (the comps) to support the valuation. To read more, go to
