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Appraisals


The last post in this topic was posted 5396 days ago. 

 

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Well it sounds like you had a bad expierence....However just like any and all professions there are good and bad people. Good and bad service.......Was there a floor plan attached to your appraisal?

 

Yes. I know. It's a shame I now have this bias. And I'll readily admit, I'm not the best person to ask for unbiased opinions on the appraisal process.

 

No the floor plan was never attached to the appraisal. Now come to think about it, I'm dead sure I gave the jerk a copy of it.

 

At least the recent appraisal I went through was much better to remove the PMI I was needlessly paying. The guy did take the floor plans and drew up diagrams that had measurements and such. I have no complaints with how this guy did the appraisal. But it took a lot of convincing before I decided to take a chance at another appraisal.

 

 

The reason I asked that question is because if there wasn't a floor plan attached the appraisal the it was not an interior appraisal.......no lender would sign off on a 2055 interior/exterior appraisal with out a floor plan they are required. If the same appraisal was sent to you twice chances are that you actually had a 2055 exterior appraisal.......it is possible that the person you should be mad at is your LO........most of the time with automated underwriting the system tells you what kind of appraisal to order and if they where only required to have the exterior rather than an interior exterior then you may wind up with a lower value.......unless there is a clear cut no brainer kind of deal I always order a full appraisal rather than an exterior........just my .02.....I haven't seen it but if i was to guess based on your answers that may have been the problem from the get go....

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I'm no fan of appraisers. After reading the report my last appraiser sent to my lender, I didn't know if I should laugh or cry. He claimed no finished garage -- it was. He claimed no laundry room -- there is. And he missed an entire room.

 

Needless to say the appraisal was considerably lower than expected.

 

 

Hey on my appraisal they forgot an entire FLOOR of my house 500-600 sq feetfinished attic - and still figured out a way to make the appraisal stay right in line with our purchase price.

 

What a waste of money.

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Well it sounds like you had a bad expierence....However just like any and all professions there are good and bad people. Good and bad service.......Was there a floor plan attached to your appraisal?

 

Yes. I know. It's a shame I now have this bias. And I'll readily admit, I'm not the best person to ask for unbiased opinions on the appraisal process.

 

No the floor plan was never attached to the appraisal. Now come to think about it, I'm dead sure I gave the jerk a copy of it.

 

At least the recent appraisal I went through was much better to remove the PMI I was needlessly paying. The guy did take the floor plans and drew up diagrams that had measurements and such. I have no complaints with how this guy did the appraisal. But it took a lot of convincing before I decided to take a chance at another appraisal.

 

 

The reason I asked that question is because if there wasn't a floor plan attached the appraisal the it was not an interior appraisal.......no lender would sign off on a 2055 interior/exterior appraisal with out a floor plan they are required. If the same appraisal was sent to you twice chances are that you actually had a 2055 exterior appraisal.......it is possible that the person you should be mad at is your LO........most of the time with automated underwriting the system tells you what kind of appraisal to order and if they where only required to have the exterior rather than an interior exterior then you may wind up with a lower value.......unless there is a clear cut no brainer kind of deal I always order a full appraisal rather than an exterior........just my .02.....I haven't seen it but if i was to guess based on your answers that may have been the problem from the get go....

 

I'll have to check my old docs to see what's what. Maybe the blame should have fallen on the LO on this process. I'm not totally savy with all the intricate details of the loan process. What is clear though, had the appraiser just returned my phone calls and explained to me the particulars behind what was going on then I wouldn't have been focusing on him as the problem. His actions showed a lot of deception. The last appraiser I dealt with was more courteous and was able to be reached by phone. In short, he was much more professional than the first jerk I dealt with.

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