I negotiated the purchase of a new home for {$430000.00}. I submitted the original purchase contract, stating a purchase price of {$370000.00}, as well as all amendments to my lender as requested with the final agreed upon purchase price of {$430000.00}. The appraisal was ordered on XXXX XXXX, 2016 and performed on XXXX XXXX, 2016. On XXXX XXXX, 2016 I received the appraisal directly from the vendor electronically referencing a Contract Price of {$370000.00} and an appraised value of {$410000.00}. Unfortunately for me, the Contract Price was actually {$430000.00}. The appraisal even stated that the property appeared to be selling at a discount due to 'pressure to sell '. The appraiser used XXXX relocation properties and XXXX foreclosure for comparable. The appraiser appeared to be 'trying ' to get the appraised value lower and closer to the Contract Price based on several factors. 
I informed my lender at the time of the error and they contacted the appraisal vendor. I did not hear anything for a few days and eventually received a 'corrected ' appraisal reflecting the correct Contract Price of {$430000.00} but still stating an appraised value of {$410000.00}. The 'corrected ' appraisal also detailed in the addendum that they WERE NOT provided the amendments to the original contract price until XXXX XXXX, 2016 and that was the reason the {$430000.00} Contract Price was not utilized for the appraisal. As well, it was noted that the appraised value could not be changed. 
The lender was negligent by not performing the industry standard expectation of presenting the appraiser with ALL of the contract paperwork including all contract amendments. Ultimately, this appraisal could not be used for the purchase of my home due to the negligence of the lender. 
