Listing agent gave wrong(Better) comp to appraiser to pass it

[Raj G.]

Hi, I am buying a home, got appraisal, I was reading appraisal report, and found many wrong information.

like

1 it has one refrigerator, while in appraisal report say 2.

2. Heating is baseboard while report say forced air.

3. Cooling window ac, while report say central.

4 homes used for comp also has 25% more lot, our home has lot 3k, while home to compare has lot 4500.

5. our home has no deck, patio ,but it's mentioned in appraisal.

6. as per home inspection report roof is gone (37 years old) should be replaced asap, while home appraisal report says 20 years life remaining.

Actually, Realtor noticed that we are less interested, so he told us that you will be happy to see appraisal report.

What should we do?

[Christopher Phillips]

There are two things happening... One, a listing agent can supply comps to an appraiser to better show how the price was estimated. Especially in a fast moving market and better comps come up...

Two, comps aren't exact matches. The appraiser makes adjustments for any differences like number of bedrooms, number of bathrooms, lot size. Appraisers take about five minutes worth photos and then leave. They don't climb on roofs. But if something is obvious they have to include it in the report.

Appraisers rely on the information in the MLS sheet and the public record. They usually ask the agent that let them in if the information is correct, but sometimes it is not. One extra refrigerator won't make a difference, but not having a deck is a discrepancy.

If the information is either incorrect or not adjusted in the report them contact the appraiser to clarify. If you think there is some monkey business going on then you need to take it to a different level...