What the heck is up with home appraisals?

[postmortemIA]

appraisals for home purchase just go up to the point of your offer. They just want to know if the house is at least worth what you are paying. To get a true appraisal you will need to hire a licensed third party appraiser. Anything tied to a bank will not be true value.

yet the appraisal that's ordered by a bank is the one that matters. Because when you try to sell, buyer will have to get a loan from a bank. And that's where you can lose if value comes lower than what you agreed to sell.

 

[waggy]

Home appraisals have to be the biggest scam in buying a home.

EVERY fucking one has been within $100 of the agreement price on the home. Last one i had the guy just came in and walked around for 5 minutes then we get a bunch of papers.

wtf.