05 Aug (UT) Second appraisal came in at $55k lower than first.
I don't know who to trust. Our agent is representing both the seller and us, the buyers. The house was not on the market, the seller wanted $489k, our agent said he thinks the market can hold that. One of the lenders (Lender A) we've been working with was the agents recommendation, the other lender is not (Lender B). Lender A's appraisal came in at exactly $489k which sent up a red flag for me. Lender B came back at $434. We're going to have a call with Lender B today in which they will go over both appraisals with us.
Is there any scenario in which this is simply a difference of opinion on value? Lender B is a credit union, are they typically conservative in their lending practices?
Is there any scenario in which our agent and his recommended lender are NOT trying to screw us over?
Talk me down from the ledge if its possible.