Should Real Estate Appraisers have Strong Opinions?
I had to open the door for an appraiser yesterday for a property where I represent the buyers in a purchase and he seemed a little opinionated. I know, appraisals are supposed to be “opinions based on market comparables” but he seemed a little too happy about the market going down. And I kept thinking, Should I be worried for my buyers? The home is a cosmetic fixer and seems like someone’s failed flip, but perfect for my buyers that wish to put sweat equity into it and are first time buyers.
But the appraiser said he had no sympathy for investors because they drove prices through the roof and now we’re hurting because of them. And so, no - I did not mention that I was an investor and owned rental properties of my own. Why this hatred toward investors?
I’m worried. I have a problem with passionate appraisers.
