Crap Shoot!

Snake eyes?

Nah, just another appraiser who is afraid to lose their Lender’s rotation and a paycheck.

Here we go with another ‘Kitty Kat” story and this one is just as sad.

I have a listing in South Grove, it’s a 3/2 with a Garage on a nice deep lot; it’s in original interior condition BUT has a New Roof, New Trane A/C unit, New Electrical Panel, New Garage door, New Solar Water Heater, Termite Warranty and re finished hardwood floors.

Under contract at 425.0 and everyone is happy.


Good, now follow along and see why I feel that appraisers are continuously F@#$% up deals when they can easily make them happen.

Appraisal comes back at 405.0 and I get to look at the Comps and the fun begins.

If you know ANYTHING about the Grove, it’s that there is NOTHING for sale under 400 grand that’s worth a looking at especially in South Grove.

So I get the Appraisal and look it over and notice that the 3 comps chosen I know VERY well (I have been in ALL of them and know more then I should about them).

The appraiser adjust down on 2 of them 30k for “interior condition”, OK, I’m cool with that but why not adjust up for property flaws such as;

Master bedroom in one is outside, just imagine; “Hon, I’m going to bed” OK, just lock the door behind you.

How about having to walk through a bedroom to get to your master?

How about the encroachments that the property has?

How about that one of them is on a Highway?

How about using the other comp that was noted but the appraiser did not choose BUT would have given them the 425.0 needed.

How about that the appraiser took incorrect pictures of properties, had missing information and a couple of other incorrect facts?

You get the picture and when I challenge the Lender, there comment is “well you should have pointed out this insight at the appraisal”


I have no clue which properties they will use UNTIL I see the appraisal; isn’t that what I just did?

Look kids, I can find 20-30k ON any property if needed, hell I can find 20k on the lot size alone.

20k is not that big a deal, if it was a 100-150k, I can see the scrutiny but 20K….Please

Here’s a niffty thought; let the Listing/Buyers agent have the ability to question the apprisal once issued, and not have the lender/underwriter just blow it off.

Very frustrating.

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