VA Appraisal way off base

The VA appraisal came in about $20K too high for the market. It actually made NO Sense. We are not sure where the appraiser came up with his comps.

I had a buyer and backup buyer both walk based on this appraisal.

Do I have any recourse? The appraisal will stand for 6 months. The military owners are PCSing before then and will be unable to continue to stay current.

Will VA consider a counter offer?

Has anyone encountered this before?

Any input will be helpful. Thank you!

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Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on February 27, 2012 at 5:41pm

An appraisal is valid for 180 days unless VA determines that rapidly changing market
conditions warrant a shorter validity period. The shorter period will be specified in
writing and may not be less than 90 days.

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