House appraisal question

[sweetdana]

What happens in cases where there are no homes of comparable size to use as comps?

They are either considered unique properties, or in a market not worthy of financing, either case usually lenders will not close.

 

[sweetdana]

We sent a detailed list of questions to the appraiser and have basically received no real response. Our main concern was the square footage issue. The appraiser refused to answer why the house was measured from the inside not the outside. We sent a copy of the appraisal we had done several years ago that listed a completely different square footage. We asked why some of the walls are completely measured wrong. Measurements are off by several feet in each direction when we measure ourselves. The only answer he has provided is he doesn't know why there is a difference and he will only use his number. He won't even come out again to double check. At this point we are considering disputing the charge through our credit card.

Legally the appra has to be paid for. As they are partially opinionated. If you didn't sign (or esign) initial lender docs (application package) you have a shot to, "stick it to the loan officer". If you signed them, the value/opinions of the appras cannot change if/if not you owe the $.

Appraisers can be jerks, 99% of the time once a # is printed they will not admit error . I am so sorry. He/she could be wrong, but the law is on there side.