Apprasial Gone Wrong.

[Steve Salvini]

I recently went for a refinance on my current duplex and like many people ran into issues with a low appraisal. Despite the fact that we went back with more comparable they were reluctant to use it even though it was on my same street and sold within weeks of my appraisal. They stated that it was "superior" to mine and would not make an adjustment for it.  I'm ok with them saying my place is worth is what it is, and not much I can do about that.  My big issue and one that has me really fired up and trying to get a refund on the appraisal, is that after two attempts and them stating they fixed wrong info on the report in a email, the report is still incorrect.  They have my room count incorrect, they don't have boxes marked with porches, decks, fences and don't have appliances marked in the report.  I know that I'm really scrutinizing this report but it makes me question the credibility of the actual report when I'm seeing errors on things that should be so easy to catch, what am I not seeing that could be wrong.  They had the SF wrong in the first report and we pointed it out and it increased the value by 3,000. 

Is there anything I can do to get a refund and am I just being a little to picky about this?  Everyone I have been dealing with the actual mortgage company has stated that this is not right and I have every right to be angry and want a refund.  I take this with a grain of salt considering they are the ones that are actually loosing out on the deal.

[Jason Hirko]

@Steve Salvini Most appraisers will never, ever change the comps at your (or even the lender's) request. It is a judgment call to begin with, so saying you think other comps are more or less applicable is to be expected. All you can hope for is that you can point out a factual error - however, unless it is square footage, and even that can be tricky if they measured the house themselves, it is unlikely to change the value much at all, as the appraisal is essentially price per square foot (based on comps) multiplied by square footage. Even with the errors you listed, unless they deducted value from your house for not having a porch, appliances, etc., it won't change your value if the comps had them too. Best (and only) thing to do is request for a new appraisal from a new appraiser. You'll have to pay for it, if your bank will even go for it.