Andrew Duncan, #1 RE/MAX Agent in Florida, talks about challenges in the appraisal process and how it affects home sales. He shares his thoughts on what could be done to get more home sales closed. Mike Yates of Atlantic Bay Mortgage also shares his thoughts on a lender’s perspective.
On many occasions, appraisals are being challenged because of low values based on 3 or 4 month old comps without factoring in the appreciation. A lot of times the appraisers are working within a box that the lenders have given them. They share their experience on having deals fall through because of low appraisals. He shares his thoughts about how the system could be improved not only to lessen the challenges being made about the appraisals but overall help in closing more deals or home sales.
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