Appraisal came in way above market

No, don't worry at all. The appraisal is useless except for the bank. The bank will view that you have more equity in the place which is a good thing for qualification and rate purposes. Other than that, the appraisal is pretty much meaningless.

The only way the inflated appraisal can be bad is if you're tempted to borrow against the phantom equity. It's the Bank's own appraisal, so you don't have any fraud exposure.

West81st is right. As long as you don't believe the appraisal, and don't use it to borrow against more than you intended, it can't do you any harm. I had an experience recently with an appraisal that came in 30% too high, when I really needed it to be accurate (taxes), and wound up having another appraiser come in and re-do it. But there is no practical reason for you to care here.

Wow, what is the name of the appraisal frim?

Also, you can tell everyone you just made 30%!

Thanks everyone . . . great answers all . . . .