Reply to Can you show list of comps to the appraiser? Standard to ask a realtor to prepare one?

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Reply to "Can you show list of comps to the appraiser? Standard to ask a realtor to prepare one?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We just did exactly what you are suggesting. Had our realtor put together some comps and I handed the info to the appraiser.[/quote]

And was it successful? For a re-fi, the home owner wouldn't have a realtor, but could do the legwork herself using Redfin etc.[/quote]

NP - We have had a few refi's over the past 5 years.  Many of the banks - particularly - large ones, after recession,  bring in appraisors who don't know the area.  We had 2 appraisals done in past 3 months that varied by 55%.   One used comps on our street, the other miles/neighborhoods away.     Even the mortgage broker at bank thought the low one was done completely wrong.   We always prepare comps - some completely ignore, some use.  We never use a realtor - just maintain a list of recent sales and pull info.     We also make sure they have correct square footage for major areas.  We renovated and if they pull up old records, they would come up with wrong results.

While maybe we are helping others do their job, we've seen too many really jobs.  [/quote]

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