Detailed text transcripts for TV channel - FOXNEWS - 20140325:20:45:00
If the appraisal comes in low, then the buyer either has to -- the seller has to mark it down, or -- and the buyer then would accept the lower appraisal, but what happens? >> well, what happens is, when a project or contract is contingent on mortgage financing, the banks send out an appraiser, and the appraiser comp comes back and tells the buyer and seller what they believe the property is worth. a lot of appraiseres are being ultra conservative because of what we experienced in the past, and so if the appraisal comes in below the purchase price, the buyer then has to decide whether they want...
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