My Orlando Buyer client is buying a house that came in $35,000 short on the appraisal. While the appraisal was adequate, it could have been stretched to a higher number, closer to the sales price.
I did what every good buyers agent should do…I asked the listing agent to discuss a price reduction with the seller to reduce the purchase price to the appraised value.
OOPS, wrong request! The listing agent lost his cool and told me that it was MY job to rebut the appraisal and get the appraisal raised higher. If fact what he gave me was an ultimatum…challenge the appraisal or cancel the contract.
Really? I am representing the buyer 100% and it is my fiduciary duty to get the buyer the lowest price and most favorable terms. Is it my job to get the price UP? NOPE IT IS NOT!
If the listing agent wants to dispute the appraisal, be my guest…but don’t ask this Orlando Buyers Agent to push the appraisal up so that the buyer can pay more for the property than it is worth…that is not my job.
Copyright @ Buyers Broker of Florida 2012 “Is the Orlando Buyer Agents job to raise the appraised value?”