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Delays can also occur in appraisals because of the increased number of layers between the parties involved.
The regional real estate area includes Maryland. West Virginia, and Washington, D C., in addition to Northern Virginia, so an appraiser from Maryland “might contact the lending agency and say they 11 come out for SI50," Ebbets said. They don't know this area ”
Ebbets knows many area Realtors trying to influence the outcome of an appraisal.
‘Appraisers are very methodical." he said. “The ones I know are all good and all licensed. If I even were to hint, ‘Gosh, can't you do better than that?' They would get very upset."
Ebbets cited a case in which a home, assessed by the county at $400,000. was recentlv listed for sale at $295,000.
The family accepted an offer of $275,00, but an out of the area appraisal came in at $220,000, and nearly killed the sale of the large, brick rambler.
Butch Zindel. a V.roker with Rappahannock Real Estate Resources, said that “we never really used to select appraisers. Out henthere used to be a real problem years ago in that lenders weren’t familiar with Rappahannock, weren’t familiar with the ratio between house and land to the total value of the property.
“We would recommend appraisers because these appraisers would come out of Northern Virginia and have no idea as to the real value of the property," Zindel said.
Hilan• Lewis contributed to this article
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