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New York

Drop in the number of US home appraisers is delaying closings, raising costs

From the October issue:Harney There’s trouble brewing in appraiserville — and it’s beginning to cost some unsuspecting homebuyers money. Those hoping to close in the coming months should be aware.

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The problem is part work overload, part resentment over fees. In many markets, diminishing numbers of experienced appraisers are available — or willing — to handle requests for their work on tight timetables and at lower fees than they used to earn. [more]

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Appraisals