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Land Appraisal Error?
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I’ll try to keep it short, not likely though lol 😂

Found some land, offer accepted at $75k for 3 acres. Raw land no dwelling.

Ernst money paid, offer signed pending full appraisal. Appraisal comes in with pictures of dwelling on land and this in the document:

“Market value of land is $21700, dwelling is $64000, total market value of property $85700”

Immediately contacted lender and title company and was told “oh the land value is $85000, the line about the dwelling must be an error left over from previous owner”. Upon further investigation I found all the “comp properties” they appraised it against were parcels with dwellings.

What are my options here because I feel like someone is being misleading.

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6 months ago