Appraisal gone Bad!

DDA Mortgage • August 26, 2019

Appraisal gone Bad! Learn how to get your deal back on track after a bad appraisal. 

How to handle a bad appraisal and how to get a new appraisal. Know your rights and know what to do next when a property is under-appraised. 
  • Transcript

    didier at diddy a mortgage let's talk

    00:02

    about appraisals gone bad I have to say

    00:05

    overall most of the appraisals are

    00:07

    coming in or above but you do get that

    00:10

    opportunity where it is a bad appraisal

    00:12

    and I mean everyone's looking and

    00:14

    scratching their heads so what you want

    00:16

    to do is when you work with a mortgage

    00:17

    broker we can go over to another lender

    00:20

    order through the management company

    00:22

    which is a third party have them do

    00:24

    another appraiser and have it come in

    00:26

    you know you usually will see a

    00:27

    difference on that one but a mortgage

    00:29

    broker can do that flip it can I say

    00:32

    challenge it you know not been very

    00:34

    successful at it we go to the Realtors

    00:36

    they judge digest go back and forth and

    00:39

    basically goes back with the you know

    00:41

    updated comps we go over there to the

    00:43

    management company goes to the appraisal

    00:45

    not much happens so I recommend getting

    00:48

    a whole new appraisal now I've heard

    00:49

    stories where they've gotten them raised

    00:51

    but it just hasn't happened with didier

    00:53

    so you know maybe two or three thousand

    00:55

    but when you're talking thirty forty one

    00:57

    of the things I want to mention is if

    00:59

    you guys can negotiate you know come in

    01:02

    between the middle work together if it's

    01:03

    possible that's really a great solution

    01:05

    as well

    01:06

    but then we can go flip to another

    01:09

    lender which a mortgage broker can do if

    01:11

    you're you know at one particular place

    01:13

    that only has one deal you're kind of

    01:15

    stuck you invited argue would do

    01:17

    everything you want but it may not so

    01:19

    friends oh god dad we may want to start

    01:21

    with a fresh start how the mortgage

    01:23

    broker such as myself flooded to the

    01:24

    lender and ordered through that

    01:27

    management company through a third party

    01:29

    and get another appraisal and usually

    01:30

    they work out believe it or not so I

    01:32

    just thought I'd share that with you

    01:34

    phrasal combat can go good have a great

    01:36

    week and thanks for tuning in this week

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