Homeowners feel `low-balled' by appraisal

      DEAR BOB: Before putting our house up for sale, we hired a professional appraiser recommended by our bank. We thought her appraisal was very low. After interviewing three Realtors, as you suggest, we listed with the best one at a higher price than the appraisal. Within two weeks, we had a very good purchase offer with a 25 percent down payment. The buyer's lender sent out an appraiser who "low-balled" our home's value below the sales price. Then the buyer went to another lender, whose appraisal came in at the sale price. How can two licensed appraisers be so wrong? -- Brent G.
      DEAR BRENT: Real estate appraisal is an art, not a science. There are many excellent appraisers. But they know they can't lose their licenses by appraising low. Sometimes, lenders who don't want to make a loan instruct their appraisers to low-ball to get out of approving the loan.
      -- Send your questions to Robert J. Bruss, Tribune Media Services, 435 N. Michigan Ave., Suite 1400, Chicago, Ill. 60611.