So far, I've only had to rebut one of my appraisals reviewed through a company's in house review process. They specifically indicated their concerns and I replied in very specific terms to satisfy them.
Without specifics how can one know exactly what one is addressing? For instance, I did a market analysis on an area explaining that the area's market value was in decline, no significant foreclosure activity was noted, that lending criteria had tightened, that the market was very competitive in order to attract qualified buyers and that the area was having to compete with newer subdivisions a few miles away, and the typical market statistics. The client responds "Underwriter: Appraiser to explain why the market is in decline."
There was no way I could address such a broad statement when I already, or so I thought, explained why. You have got to have specific information.
Without specifics how can one know exactly what one is addressing? For instance, I did a market analysis on an area explaining that the area's market value was in decline, no significant foreclosure activity was noted, that lending criteria had tightened, that the market was very competitive in order to attract qualified buyers and that the area was having to compete with newer subdivisions a few miles away, and the typical market statistics. The client responds "Underwriter: Appraiser to explain why the market is in decline."
