Posted by Brent_IL on August 27, 2003 at 15:44:08:
“Kite” or Kiting" is slang for something that is overvaulued because there is nothing underneath it holding it up. Kiting a check means depositing a check that will not clear because of lack of funds into one bank and working the float by depositing a check from the first account into a second bank and drawing successive checks between accounts so that you can use the cash from the first transaction without paying for it. Kiting an appraisal means arranging for an appraisal that indicates a value higher than the sold comps will support.
I don’t understand why you are negotiating if you have a done deal.