my thoughts exactly. Even in a high appreciative market, a lot of times banks will make you re-use the initial appraisal if its within a certain time frame. Friends bought a condo under value, cleaned it up, then had to sell for a job transfer. They were having problems selling it as everyone agreed based on the changes and the market it was worth a lot more than they paid, but the banks were sticking with their original appraisal and were making it hard to sell.
6/24/13 at 6:58am