[RANDY P]

Here's a little excerpt out of a current CA property appraisal.

Yes, this is boiler plated into the FNMA 1004 form. Pretty much says it all..

"I certify that, to the best of my belief:
The statements of fact contained in this report are true and correct.
The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions and conclusions.
I have no present or prospective interest in the property that is the subject of this report or the parties involved with this assignment.
My engagement in this assignment was not contingent upon developing or reporting predetermined results.
My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value of direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of
Professional Appraisal Practice.
I have made a personal inspection of the property that is the subject of this report."

Now granted, no two appraisers are going to derive the same value, but if they're following the rules they should be close. Value is determined by numerous factors, most notably what similar dwellings in the area are selling for (this is a personal residence - and comps should be abundant)

$500k down from $585k represents over a 10% adjustment. A hole that big in value can be proven fairly easily assuming that the original listing price is reasonable.

We could all be wrong, maybe the seller and listing agent are on crack. But, assuming it is in fact provable as a reasonable selling price I think there's a case to be made here.