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trapper4368 · Joined: 26 Sep 2009 Posts: 1 1.40 Dollars($)

Had duplex sold. Appraiser a young inexperienced college kid appraises 23,000 low. We bought 2 years ago, and poured a lot of money into it. It was appraised higher before the work. Tax assesment, and homeowners is much higher also.
Many mistakes in appraisal, age of house, materials, condition, missing porch, new furnace, and central air, etc. Compared to houses in dumpy area of town that sold a year ago. All houses comparable to mine are listed, and selling for higher prices.
I pointed this out to him at buyers request, and he refused to change his opinion at all. Nobody agrees with his assesment. Due I have any recourse. Perhaps suing in small claims for legal costs, survey, search, etc.
This is in Buffalo NY where prices have remained stable for many years.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Trapper

Are you saying, you are lookign to sell teh house and the appriser is apprisign ti for less than what is goign on in the market

Is this an independed appriser or is he from the bank

Rememeber the banks are really being cautious in appraising the value of the house, they are not like before

Posted: Sat Sep 26, 2009 11:19 pm Post subject:

bank appraiser. I understand the caution. In my area there are less than 10 duplexes for sale now. Mine is the nicest, and the others are priced at what I was selling mine for or more. The Buffalo area never experienced the huge rises in prices the rest of the country had. Very slow appreciation. Like I said the appraiser was informed of many mistakes, and chose not to correct the value. We are talking about 23K.
Also talked to the realtors, and my first lender. They did not agree also. They said for him to go to another lender, but he refused due to some matching $$ being offered by his bank.
According to the way this guy appraises none of the properties in my area will be sold. As soon as I heard there was a problem I immediately said I hope the appraiser was not that dumb kid that was here for 10 minutes.

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