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COMPLETE APPRAISAL CO

Reviews
1.01 Reviews
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Showing 1-1 of 1 reviews
Liza R.
Mar 2015
1.0
$500
The appraisal had significant errors in facts and in judgement.  When the errors were brought to the attention of the appraiser, she refused to correct the report.  When the errors were brought to the attention of the management, they agreed to change the details of the report but not the appraised value of the house.
The errors in fact included mis-measurement of the building resulting in 70 sqft (about $7000 in value) and ignoring full bath in basement ($4000-6000 in value).
The errors in judgement included choosing lowest value outliers among comparables instead of choosing median comparables.  The buyers had looked at these "comparables" and immediately walked out.
The resulting appraisal was below the agreed sale price and buyers were not able to complete their purchase.  The right facts and comparables would support a much higher market value.  This was proven by the 4 concurrent offers on the house which were all competitive and well above the appraisal value and by another lender's appraisal performed 3.5 months earlier which was a full 10% higher.  The sale price was close enough to the estimate that a reasonable appraiser would have acknowledged the margin of error in their measurement and affirmed the sale price (about 5%)
It seems that this appraiser's goal was to cover their own back by calculating the lowest possible valuation rather than using judgement to arrive at a market value.
My recommendation is to find a different appraiser.

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FAQ

COMPLETE APPRAISAL CO is currently rated 1.0 overall out of 5.

No, COMPLETE APPRAISAL CO does not offer free project estimates.

No, COMPLETE APPRAISAL CO does not offer eco-friendly accreditations.

No, COMPLETE APPRAISAL CO does not offer a senior discount.

No, COMPLETE APPRAISAL CO does not offer emergency services.

No, COMPLETE APPRAISAL CO does not offer warranties.