Appraisals In The Time of COVID-19 In these COVID times, appraisals are the hurdle to closing transactions. (BTW, have you noticed that COVID is the excuse for EVERYTHING? Some appraisers provided awful service before, but now they have an excuse.) Appraisals are to protect the buyer from purchasing an overvalued home and all appraisers are managed by appraisal management companies.
Appraisals coming in low are part of the market that we are in. Nonetheless, it is still thoroughly frustrating for all parties involved each and every time an appraisal comes in low. Unless of course you are the buyer and the seller happens to be a bank or short sale lender. Then you may be jumping for joy because you