We’re selling our 2BR co-op, had a deal fall through in January, and now have a new buyer whose bank just appraised our property. The appraisal came in $25K less than the sale price — we were pretty shocked! This appraisal puts the value of our apartment at $40K less than the agreed-upon sale price for our first, now-defunct deal. At that time, the appraisal wasn’t a problem, but the buyer getting PMI was. Do we have any recourse in this situation? Can we protest the appraisal? We got a copy, reviewed it today, and the comps seems legit, but the square footage is less then we measured in the past (not sure how it compares to the square footage recorded in the first appraisal). Has anyone had any experience with this? Thanks! <\/p>\n","protected":false},"excerpt":{"rendered":"
We’re selling our 2BR co-op, had a deal fall through in January, and now have a new buyer whose bank just appraised our property. The appraisal came in $25K less than the sale price — we were pretty shocked! This appraisal puts the value of our apartment at $40K less than the agreed-upon sale price…<\/p>\n","protected":false},"author":22879,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"schneps_byline":"","schneps_post_style":"","schneps_post_source":"","schneps_syndicated_read_more":"","schneps_post_source_sitename":"","schneps_syndicated_thumb_html":"","schneps_syndicated_thumb_src":"","schneps_post_source_shortname":"","schneps_post_source_url":"","schneps_post_source_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[76],"tags":[],"districts":[],"class_list":["post-31840","post","type-post","status-publish","format-standard","hentry","category-appraisals"],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/brownstoner.com\/forum-archive\/2009\/05\/low-appraisal-a\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Low Appraisal: Any Recourse?","url":"http:\/\/www.brownstoner.com\/forum-archive\/2009\/05\/low-appraisal-a\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.brownstoner.com\/forum-archive\/2009\/05\/low-appraisal-a\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"Appraisals","author":[{"@type":"Person","name":"jxc187"}],"creator":["jxc187"],"publisher":{"@type":"Organization","name":"Forum Archive","logo":""},"keywords":[],"dateCreated":"2009-05-13T09:48:14Z","datePublished":"2009-05-13T09:48:14Z","dateModified":"2009-05-13T09:49:01Z"},"rendered":"