New appraisal requirements went into effect in the beginning of May - They've already caused one of my closings to be delayed. This cost my Buyers a lot of emotional angst and quite a bit of money as they had to pay the seller extra to move their things into the garage early and stay in a hotel over the weekend. These requirements, simply put - were not at all well thought out. They require that everyone be cut off from contacting the appraiser. This means, as a buyer's agent and an advocate for my client - I can't contact the appraiser if I think his valuation is too high. He/She can hide behind this new law and the lender is stuck with a loan that may be based on a property that is over leveraged. Bad for the client. bad for the lender, bad for the industry and just plain old bad timing.

Here is a video (a little cheesy but effective) that explains the situation. Please view and sign the petition to support the removal or change of these new requirements.

https://www.thinkbigworksmall.com/public/showArchiveVideo/1/4909