Quote:
Originally Posted by 84porsche
My complaint is that the appraised value should reflect similar values not significantly disparaging values. $25K is a huge gap. Both appraisers stood on the fact that their appraisals were accurate and the fact that a property sells for higher than both leaves their appraisal competencies in question in my opinion.
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Coupla points i'd like to make here;
1-Appraisals for residential property prior to buying are worthless. The only one that matters is the bank ordered appraisal used to determine financing suitability. If you are buying as an investment and have enough cash that financing isn't an issue then you should know better than relying on an appraisal to determine value. Pull the comps yourself and study the market.
2-If you actually read the appraisals you might see where the differences in value turn up. The difference is relatively small and frankly not a suprise at all.
3-Agreeing to pay for a service then contesting it on your credit card is theft.