One thing I don't understand. I hear a lot of stories about a house being sold within a few days (or hours..) for $x over asking price. In these cases, why do sellers not wait for a few weeks, or list the house for a higher asking price?
Holding it open for longer is unlikely to get higher ones - it’s basically an auction.
Pre-2008 crash, lenders could pick their appraiser and it was easier for them to have the appraisal match up with the asking price. The lender was likely selling off the loan, anyway.
Appraisals are now assigned to a pool. Doesn't mean there are not any shenanigans though. They all still know each other.