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My friend had an offer on his home of almost 300k (listed for 289). It appraised for 40k less.

He bought his home for around 189k. The market is obviously wild at the moment, especially in my area (LCOL). He listed it for 289, had an offer at 300k and it appraised for around 260k.

The appraiser told him something along the lines of they were told to “stop appraising houses so high”.

Is this common? I found it very odd as we didn’t speak with our appraiser really when we purchased our home.

submitted by /u/Kidcody44
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source https://www.reddit.com/r/RealEstate/comments/14gxsgk/my_friend_had_an_offer_on_his_home_of_almost_300k/
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