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Editor's Message: Under pressure
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Let’s face it: appraisers get the shaft. In today’s economy, it’s hard to accept the reality of market value. Sellers, buyers and other parties involved in the mortgage process often complain about appraisals coming in “too low.” Such is the case with a recent Wall Street Journal Q & A, in which a reader asked for advice in a sticky selling situation. To make a short story shorter: The buyers asked for $20,000 in repairs/upgrades, the appraisal came up short of the agreed price, and now the seller is being pressured to lower the price.
What’s that? Pressured?!
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