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Paying More Than Appraised Value? Why? Appraisal Not Market Value

Yesterday we pointed out how borrowers with large down payments sometimes use FHA or VA financing when appraisals come in low. Several realtors asked why borrowers are willing to pay over appraised value. There are several reasons that we have observed: (1) the buyer is a 27 year social media employee with $11 million in […]Read More