The Appraisal Team Inc

This appraiser was selected by an appraisal management company that the lender reached out to. They were not selected by myself nor my lender. First off, she spent very little time in the home and asked very little questions. The report came back to us 8 days later. The comps that were used were from sales 11, 10 and 7 months back, these homes were sold during the winter. Many homes were sold more recently during the summer that would have been a better comp but were not used. Also, the comps were a complete mismatch to our home, smaller in size and major features were missing and no adjustments were made. We received two market analysis from two different real estate agents. We used this information to appeal and requested that better comps be used. We received another report 7 days later and the same comps were used. This report was poorly done without attention to detail. This report is completely useless and wasted our time and money. Do not use this company.

Everything was done quickly and professionally. I would definitely use them again.

The appraiser listed a set of search criteria to select four comparable sales; however, without documenting this, the appraiser chose only those comparables that were recent foreclusures to estimate the value of my home.  Three of the four comparables were listed online as recent foreclosures and the fourth appeared to be either a short sale or a bank owned sale based on the sales history.  Using the appraiser's same search criteria, I found six recent comparables from standard sellers that were excluded, yet all six point to a valuation estimate 25 - 30% higher than the foreclosures and the appraiser's estimate.  The appraiser's criteria were distance from my home, size, lot size, age, date of sale and number of bedrooms and bathrooms.  All six of the comparables I found fit the appraiser's criteria for all catagories.