Appraisal came back $500 higher, but I think its bogus. Submit an ROV for a lower cost, to then use as negotiation?
Hi! I'm currently under contract to buy a home. Upon seeing the appraisal document and doing my own research, I've realized that the property I'm buying is totally ripping me off. The trouble is, the appraisal value came back at just $500 higher thus making it invalid for me to use my appraisal contingency. I'm thinking of submitting a Renegotiation of Value to try to receive a lower appraised value, to then use to negotiate a lower price.
I can put together a pretty compelling document, complete with pictures, examples of other properties and maps. But has this been done before? Am I insane?
u/justagal96 — 8 days ago