Opinion Request on Rebuttal of Appraisal (Tidewater)

[Overimprovement]

Why was this appraiser discussing this report with your agent? Unless there is some different about VA Appraisals (I don't do them) this would appear to be a potential USPAP violation for this appraiser...

 

[leslie7622]

My agent had called him to discuss the rebuttal that we had sent over. Technically he didnt discuss it because he said that he didnt need to review our rebuttal because he thinks his appraisal is correct.

Is this considered a violation? Should i discuss this with the VA?

 

[Terrel L. Shields]

the comp had a 6 car driveway and the appraiser adjusted 5k against us. Same goes for the utility room (he adjusted 5k against us because comp had a utility room and he assumed we didnt)

Those are nonsensical adjustments. The report obviously has some issues.

 

[Sparrow]

You have good arguments. It sounds like you really want this property. I would ask lender for another appraiser that could come inside property. It sounds like the appraiser had to assume certain things because they did not go inside. This appraiser may be able to come inside.

 

[Sparrow]

If the lender or VA can convince the appraiser to come inside (not breaking laws), that could change the outcome. You could go conventional loan route too with lender. You have options. I have experience in lending.

 

[Sparrow]

Ask lender for reconsideration of value and interior inspection. Let lender help you. Find another lender if they won't help you. Keep VA connected. Don't forget the possibility of conventional loan on the property.

 

[Sparrow]

One last question. I'll shut up. Why do you really want this property?

 

[glenn walker]

My agent had called him to discuss the rebuttal that we had sent over. Technically he didnt discuss it because he said that he didnt need to review our rebuttal because he thinks his appraisal is correct.

Is this considered a violation? Should i discuss this with the VA?

Deleted. Read newer Post.

Ask lender for reconsideration of value and interior inspection. Let lender help you. Find another lender if they won't help you. Keep VA connected. Don't forget the possibility of conventional loan on the property.

 

[glenn walker]

@gregb thank you for this. I sent this link to my broker and he didnt believe me at first and the lender didnt believe me either. I had to strongarm him to calling the VA to confirm that we need to do this. Were going to fill the grid/form with our comps and send it tonight or tomorrow morning to the VA. Would tomorrow be too late? We got the report late on 6/1. It is now 6/3 evening.

Hold the Horses your initial post stated the sellers had done $295,000 of improvements ? and now you say you guys want $40,000 to repair crumbling retaining walls etc ? AND THE LISTING AGENT did not want the appraiser to go inside the home ? RED-FLAGS-big time and the reason the Realtor did not want the appraiser going on the property is because he knew the Property would not meet MPR minimum property requirements until repairs and inspections had been completed. And also that $40,000 was going where ? Not accusing you but now things are starting to look like real Wonky and not adding up. This fresh cream puff is starting to sound more like a day old box of pocket donuts .

My New Summary : Move on game over the appraiser is not changing his value and if he gets inside and into the back yard and it may even end up lower and not meet (MPR ) until these $40,000 of repairs have been made. In my opinion VA will back the appraiser 100% and so saddle up those horses and go home. As far as the Realtors i would say they were incompetent but maybe everyone involved just created a transaction that backfired and the VA appraiser was one step ahead trying to protect the VA .

 

[Overimprovement]

My agent had called him to discuss the rebuttal that we had sent over. Technically he didnt discuss it because he said that he didnt need to review our rebuttal because he thinks his appraisal is correct.

Is this considered a violation? Should i discuss this with the VA?

The issues are if the appraiser discussed any part-details-of the actual report with anyone other than the client--lender/VA. Like comps selected, why, adjustments,etc. Just answering a couple general questions probably not.