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Updated over 10 years ago on . Most recent reply
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Help! My appraiser's an idiot
I met with my appraiser a week ago on a refinance for a four plex I own, and I provided her with comps in addition to an income based valuation worksheet already filled out to "assist her". Everything that I can find comp wise and through income shows this property valuation between $220-205K. I got the appraisal today and her numbers were $165K! When I look at her comps I see two duplexes, One is brand new construction and the other is a total pile of crap ($238K and $113K respectively). Then I see she used a triplex which is also a pile of crap, makes less money than mine, but still sold for $175K two months ago! What can I do to fight this?
Most Popular Reply
@Mike Sattem Dude are you venting or looking for a solution? Made that mistake twice. Happily living with man's best friend since I figgered the rules.
Where did you get your cap rate comps? Post your income & the appraiser's. let us appraisers give you some help. Venting? I can't believe she turned on you after all you've done for her. Are you working out? You're looking buffer.