We had a client receive a very low appraisal for the home they were trying to buy VA. The difference in the sales price and the appraised value was $48,000. In many cases this would be a nightmare for the buyers. Not everyone has $48,000 dollars lying around!

A common misconception in the mortgage business is that you cannot contest VA appraisals, but this is not the case. Now we here at Chissell Mortgage Group knew that you can challenge a VA appraisal, so we went back to the realtor. We asked them if there were better comps that could be used and they said yes. So we gave the information for the better comps to compare the home to and challenged the Veterans Administration directly. 

A week later the VA turned around on their estimate and they declared that the home’s value was at the exact amount for the contract price! This is just another reason why you should use us here at Chissell Mortgage Group since we can handle those challenging scenarios that present themselves.

If you have any questions at all about mortgages, please call us at Chissell Mortgage Group at 727-376-6900.

NMLS ID: 327290; NMLS ID: 2062741

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