[julienb_sea]

I mean this is true, but I think its more realistically like the appraiser doesn't want to create a situation where it tanks a sale if they can avoid it. When I bought my house in 2022 there was a bidding war (like every house sale in Seattle), I paid 150k over asking price which was relatively speaking pretty reasonable as the other houses I bid on went for 250-500 over.

That said it was on the very high side of valuation. My agent told me if the first appraisal wasn't enough to cover the purchase price, we would just get another appraisal. The first appraisal went fine, compared to other properties it was within range of reasonable so they approved it and the mortgage went through without issue.