A purchase versus a refinance appraisal! You'll be surprised!!!1
I have found that appraisers often provide two different values: one for refinancing, which tends to be the minimum necessary, and one for purchasing, which is typically tied to the sales price. When conducting a refinance appraisal, there is no need to analyze a purchase agreement. However, in a purchase appraisal, the appraiser should consider the contract price as a reliable indication of the property's value. This is why the appraised value often aligns closely with the purchase price but not with a refinance.
What has been your experience?
- Jorge Vazquez
Graystone Investment Group
266 Reviews
4.6 stars