Quote:
Originally Posted by 84porsche
I have a situation and could use the assistance of the PBT (Pelican Brain Trust).
In my quest for home ownership, I had 2 appraisals done on a property that I did not purchase, the first being the original appraisal, the second an appraisal review. For the purposes of this, the selling price on this home was $415K. First appraisal came in at $405K and appraisal review came in at $380K. Both of which led to lending not being extended and leading to escrow withdrawal. The home ended up selling for $420K.
I disputed both of these on a credit card having one win and the second did not as I did not complete the required form on the grounds of unsatisfactory service. On the one that was in my favor, I received a letter from the company stating that unsatisfactory service is not an acceptable claim and they are referring me to a credit/collection agency personally. I have since been communicating directly with them but they have refused to any/all rescinding/dismissal of charges on the grounds I noted.
The amount in dispute is approx $300 but I believe that on principle that if an unsatisfactory service was provided, then one should not have to pay especially when an opportunity was made to resolve the disparity.
Just wanted your thoughts. And if it were me and someone was unhappy with my work, I would certaintly hear them out and address the concerns as not to lose a customer but I do not feel that they value this aspect as I do.
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You are stuck.
1)- even though you paid for it, the appraisal is the property of the lender who ordered it, and the appraiser did his job and delivered a finished product, which is also a licensed / protected trade.
2)- the house may have sold for $420K but unless the specifics of the deal are known (downpayment, etc. etc or maybe buyers paid cash) that doesn't mean was actually worth that much.
Well, if the deal closed and they did pay $420K then now, it is, but usually in that situation it's a cash buyer- who doesn't need to have an appraisal done.
rjp