topic Low appraisal in Mortgage Loans

Low appraisal

babbles — Fri, 17 Oct 2025 19:41:39 GMT

In the process of buying a one year old home but the VA appraisal is going to come in low prompting a tidewater clause, agents found comps real quick that justified the sales price, I officially said no, I will let the appraisal report come in first and go from there, yes we are two weeks from closing but it was our agent who found the original comps that the sales price was based on so decided not to go that route again, any opinions on how you might have handled it? Would you have submitted additional comps knowing the appraiser may not have considered them anyway?

Re: Low appraisal

FicoMike0 — Sat, 18 Oct 2025 03:01:08 GMT

tidewater clause, that's kinda cute. Maybe you should counter with a low tide offer. Is the closing on danger of sinking? The agent should man the bilge pumps. Raise the spinnacker, jib ho.

Re: Low appraisal

ShanetheMortgageMan — Sat, 18 Oct 2025 03:48:43 GMT

It really just depends on your goal. If you were hoping the seller might drop the price then you did the right thing by waiting as there is no point helping justify a higher value.

Re: Low appraisal

Realist — Sat, 18 Oct 2025 05:12:08 GMT

I've never used this technique from a buyers perspective, but I've always used it from a refinance perspective, when times were great, prices were going up, and interest rates were free falling down to low 2%. I don't simply allow an appraiser to appraise my home, I do half their job for them, and always arrive at the number I need, whether it's cash out refiance, lower interest rate, or stated apprasier value. I've never lost an opportunity or target to date, in my efforts.

Now on the purchasing side, honestly I would have never thought to consider this. It has to be a buyers market or a slow market to make something like this happen I would think. The battle you have today, is while they're so eager to pump prices, they aren't so eager to lower prices. Or taxes. It's rise, rise rise, then when the reverse occurs, it's a very slow decline.

I would say, present your arguement to the appraiser, or whomever you can. You are the buyer, and so long as it's not 23423892 people bidding, or best offer, let the cards lay where they may. The economy is turning, and home prices will start falling. There's nothing worse than buying a home, coming to find out you become underwater, unless you plan to stay there for a decade or longer.

Re: Low appraisal

babbles — Sat, 18 Oct 2025 07:37:55 GMT

Thank you! Great points, home had been sitting over 30 days with no offers in sight was probably the determining factor for us

Re: Low appraisal

Total_Synergy — Sun, 19 Oct 2025 16:23:03 GMT

Interesting scenario @babbles; wishing you luck! Good points, @Realist thank you for those

Re: Low appraisal

babbles — Tue, 21 Oct 2025 09:53:54 GMT

Still awaiting the offical appraisal to see what it is, wondering if the person might have spotted an imperfection with the proerty that the home inspector missed? I know they are not inspectors though, I will update

Re: Low appraisal

babbles — Tue, 21 Oct 2025 09:56:01 GMT

Thats funny @Fico mike!!😂

Re: Low appraisal

babbles — Wed, 19 Nov 2025 07:45:03 GMT

Quick update, we did close on time and the home was overpriced by 15k, (home price dropped to that amount) any additional comps I believe would have not changed the outcome according to the appraisal, the homes used were very recent within the neighborhood

Re: Low appraisal

bubbafrombama — Wed, 26 Nov 2025 10:42:14 GMT

You only paid what it was worth? just making sure I understand your last post.?

Re: Low appraisal

babbles — Sat, 29 Nov 2025 20:24:23 GMT

Yes got it for 15k less