04/17/2023
PSA. This is from another appraiser. Be aware and don’t let happen to you home owners. This a disgrace to our profession.
Just got an ear-full from a homeowner while I inspected his house today. He tells me he tried all this 3 months ago, however a hybrid appraisal was ordered that another firm completed. Someone showed up at his house to take photos, twice actually since they lost the originals (or they weren't good for some reason). Photos were sent to a local appraiser for analysis. No notes of the subject being being a studs out remodel, all upper end building materials used as the owners dad was the builder. The square footage was accurate, but no note of the recent addition which more than doubled the overall SF. Homeowner says he pays attention to the market, the hybrid appraisal seems light, in his opinion and he called the original appraiser to explain a similar SF house without any upgrades sold 6 months ago across the street for 50K more... The original appraiser says sorry, I can't help you, not only are you not my client (ok thats true), but I never actually saw/inspected your house. This is really an eye-opener of the frustration and harm this new 'revolutionary' system is going to inflict on the endline consumer. I'm sure some cases are smoother than others, but if this is a common experience for a homeowner to feel they have no voice, this will demolish any hope for public trust. Homeowner was very upset about the process, the lack of professionalism, the fact he's committing to a loan that he has to pay back with real money and can't even get a real appraisal/appraiser to inspect his house, and now he's redoing the process at more out of pocket expense. I told him to put his experience in writing for me, should I have an opportunity to send it up the chain - I will.
