Evidently I had an appraiser who worked for the lender and not the customer when I purchased my home. It was overvalued by at least 40K. I'm trying to refinance now, and can't get the value I need. I would even accept being able to go back to that appraiser, just so I can get a high appraisal. Does anyone know of a company who appraises homes based on the Harris County appraisal districts appraisal??
2006-07-13 03:26:51 · 5 answers · asked by jd 1 in Business & Finance ➔ Renting & Real Estate
What you should be doing is reporting that lender's appraiser to the proper board of your state's authority and possibly even seeking legal recourse against him/her. Besides, when you try to refi, depending on who you refi with, you may not be able to use the previous appraiser and may be forced to use the one the lender picks.
2006-07-13 03:32:02 · answer #1 · answered by sohrob76 2 · 0⤊ 0⤋
Appraisals are based upon recent sales in your area and then adjust up or down for positive or negative aspects of your home. So if the homes in your area are selling for less now, then getting that high value will be difficult. To help with the value, give the appraiser a list of imnprovements you have done since you have moved in that may not be on the county register, such as replaced flooring, new countertops, etc. It can't hurt. Good luck.
2006-07-13 03:33:47 · answer #2 · answered by extra_37 4 · 0⤊ 0⤋
Appraisals are based upon sales comps, sold real estate generally within a six month period. Values are dropping in many regions. What one paid is no reflection on future value.
Perhaps a discussion with the appraiser may be of value.
2006-07-13 03:34:19 · answer #3 · answered by Jimmy 5 · 1⤊ 0⤋
common techniques to get a "actual" appraisal is to employ an self sustaining actual belongings appraiser. regularly actual belongings brokers have an pastime in bearing on fee of the homestead as being larger than it surely is (you ought to apply them to market your position in the destiny) also their opinion is in simple terms that, and ought to't be relied on by a economic business organisation. value determinations are in preserving with comparing houses of similar region, sq. pictures, problem and age. houses offered on your community (usually below a million mile away) in the most suitable 3 months that are the most similar in the above centers are the superb comparables. in case your position is better in improvements to the houses in the realm, houses in similar neighborhoods with similar centers ought to nicely be used, notwithstanding a minimum of one similar (offered) should be on your subdivision or community. pay attention of attempting to get your position appraised to a fee you want with the intention to pay off unsecured debt (ever been the incorrect way up in a automobile?). if you're unable to pay mastercard or automobile loans, they don't foreclose on your position. there are a decision of predatory lenders available in this market, and stress to appraisers to go back in on the right "fee" is intense. many belongings owners are unaware that their loan broking service has forced the appraiser (this is unlawful, yet finished on a daily basis). employ an self sustaining of your decision have the business business organisation contact them and order the appraisal (many banks will in basic terms use an appraisal prepared specifically for them). enable the appraiser recognize you desire a real fee, no longer something reported by the loan broking service. also you are able to carry out a touch analyze or your own by pulling actual belongings flyers on your community and comparing them on your position, this is type of like state-of-the-paintings procuring. Be actual and act like a purchaser, many belongings owners judgment is clouded because they love their homestead a lot.
2016-10-14 10:25:37 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Make ur house nicer
2006-07-13 03:31:00 · answer #5 · answered by petluvr1993 2 · 0⤊ 0⤋