Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago,

User Stats

7
Posts
0
Votes
Amber Hardy
  • Rental Property Investor
  • North Alabama
0
Votes |
7
Posts

Home Appraisal Error

Amber Hardy
  • Rental Property Investor
  • North Alabama
Posted

Hello, I'd love to have some advice if anyone can help. My family member purchased their home less than a year ago, and the home was appraised at the time of the purchase. There were a couple thousand sq ft that should have been included on the appraisal, but they were not. The tax assessor noticed the mistake when they came by. The appraiser has already admitted fault, but the home value was never corrected. How can I help advise my family member in which direction to help get their home value corrected on the previous appraisal? Since the appraiser admitted fault, I feel it should be corrected by that appraiser rather than having to pay for an entirely new appraiser.

Currently they are paying the additional taxes as well as PMI. If the home is worth more, then they shouldn't be paying PMI as well. Is there any way to hold the appraiser accountable for this since they have currently been paying increased taxes and PMI?

Thank you so much in advance for any advice.

Loading replies...