Finish the Appraisal--It's the Right Thing To Do

With all we realtors must do in this difficult market to get a home under contract, why won't all appraisers establish full value instead of stopping at or slightly above the contract price?? All too often with transactions that the appraised sales price was obviously cut short after reaching the contract terms. I am involved with a home that the seller had paid for an appraisal 8 months, the current appraisal comes in nearly 13% lower!! Area sales actually gained 2.6% in 2007. With unforeseen problems, this "short " appraisal has given us fits as we are now locked into this value as far as the underwriter is concerned. My own CMA done prior to writing the offer was significantly greater than the now current appraisal. With underwriters on high alert for any signs of fraud or misrepresentation, appeal to reason seems to be useless. This has caused sacrifices to be made that should never have been considered. Mind you this was not some uncommon home, it is a pretty straight forward style with adequate comps. The buyer should be getting his money's worth and the people involved ought to be doing the right thing and not the easy thing. There is a bigger picture here.