Comments on: Appraisal Nightmares, part 2 http://blog.brookfieldsd.com/appraisal-nightmares-part-2/ Just another WordPress weblog Tue, 11 Jan 2011 17:00:53 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Steve http://blog.brookfieldsd.com/appraisal-nightmares-part-2/comment-page-1/#comment-204 Steve Mon, 27 Jul 2009 17:50:16 +0000 http://blog.brookfieldsd.com/?p=605#comment-204 Thanks Sarah, Great story! I agree, we need to keep pushing the word out there about this appraisal debacle. We are in the middle of another appraisal problem, as I write this comment. Ignoring more current closings and all upgrades, an appraiser came back with a value $12,900 under our contract price. While reviewing the detail of his appraisal I noticed an error in his stated "most relied upon comp" that caused an $18,000 negative adjustment. We have gone back to the AMC (a week ago) and we are still waiting for the appraiser's response. Meanwhile, the buyer is stuck in limbo! Please, keep pushing the word out there. Maybe someone will get the hint! Steve Thanks Sarah,

Great story! I agree, we need to keep pushing the word out there about this appraisal debacle. We are in the middle of another appraisal problem, as I write this comment. Ignoring more current closings and all upgrades, an appraiser came back with a value $12,900 under our contract price. While reviewing the detail of his appraisal I noticed an error in his stated “most relied upon comp” that caused an $18,000 negative adjustment. We have gone back to the AMC (a week ago) and we are still waiting for the appraiser’s response. Meanwhile, the buyer is stuck in limbo!

Please, keep pushing the word out there. Maybe someone will get the hint!

Steve

]]> By: syaussi http://blog.brookfieldsd.com/appraisal-nightmares-part-2/comment-page-1/#comment-203 syaussi Mon, 27 Jul 2009 17:26:14 +0000 http://blog.brookfieldsd.com/?p=605#comment-203 Thanks, Steve, for continuing to write about this issue. We at Big Builder have been sounding the alarm on this problem even when the issue was deemed overblown by even some of the most visible and respected writers at papers like The Wall Street Journal and Herald-Tribune. You can check out our latest work on the subject here: http://www.bigbuilderonline.com/Industry-news.asp?articleID=1017399 Thanks again for speaking out on the issue; it's only when leaders such as yourself raise the question can there be any solution. Thanks, Steve, for continuing to write about this issue. We at Big Builder have been sounding the alarm on this problem even when the issue was deemed overblown by even some of the most visible and respected writers at papers like The Wall Street Journal and Herald-Tribune. You can check out our latest work on the subject here: http://www.bigbuilderonline.com/Industry-news.asp?articleID=1017399

Thanks again for speaking out on the issue; it’s only when leaders such as yourself raise the question can there be any solution.

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