Quote:
Originally Posted by MRM
Anyone who wants to pay more than an appraisal either doesn't care about fair market value or they are speculating that the market will catch up to them. Either way, paying more than an appraised value is over-paying for the property based on fair market value.
|
Hogwash, sir.
This presumes that the appraisals are always correct, which we both know is not the case. In fact, I'd lay you odds that, at this point in time, there are more appraisals coming in at under "market value" than over market value.
JR