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Updated over 8 years ago on . Most recent reply

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54
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49
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Dwayne Jones
  • Investor
  • Memphis, TN
49
Votes |
54
Posts

Do you think appraisers typically make fair reports?

Dwayne Jones
  • Investor
  • Memphis, TN
Posted

I"m just curious. Do you think appraisers typically make reports strictly from data or do you think personal bias play a factor. Example: most sales data for a house is public record and do you think you get the same value for a house with a mortgage as you do with clear deed? Do you think a personal bias to neighborhood plays a role? Or do you think a cautious approach is taken over the entire industry because of previous bad appraisals a few years back that created the collapse. Just a topic for discussion. Thoughts?

Most Popular Reply

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1,730
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1,511
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Jason Hirko
  • Lender
  • San Antonio, TX
1,511
Votes |
1,730
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Jason Hirko
  • Lender
  • San Antonio, TX
Replied

@Dwayne Jones Appraisals are one of the most frustrating parts of my business - but it is an imperfect science and a lot of it is based on personal judgement, so I understand it. I have appraisals happening every day and appraisers that I prefer working with. But even my favorite appraisers sometimes send me a report that makes me scratch my head. 

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