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Updated over 9 years ago on . Most recent reply

User Stats

287
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102
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Ed B.
  • Real Estate Investor
  • Sacramento, CA
102
Votes |
287
Posts

QUESTION FOR APPRAISERS-REFI VS. PURCHASE APPRAISALS

Ed B.
  • Real Estate Investor
  • Sacramento, CA
Posted

I'm curious to know if appraisers tend to appraise properties differently depending on whether it's for a purchase mortgage or for refinancing an existing debt. I would think the appraised value should not differ, but would think an appraisal for a purchase might be higher since the appraiser is aware of the accepted purchase contract amount, whereas in a refi appraisal the appraiser has to mostly consider comparable sales of similar properties to help arrive at a value, and those sales may not be as current and as "valid" as a fresh purchase contract. Agree or not?

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