$25,000 Adjustment for EV Charger

[djd09]

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[djd09]

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[djd09]

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[djd09]

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[Dublin ohio]

Did your mom tell you to consult with AI to come up with an answer? Even assuming that AI is correct and an EV charger adds 1 to 3% to the value of a home, that is still a long way off from the 8% that the appraiser claimed it added to the value of the subject property in the apprasial I am referencing.

As is typical, the devil is in the details. Those details include: overall popularity of evs in an area, type of charger, the overall charging infrastructure in the area. Why would anybody pay $17k more for something that would cost no more than $4000 to install. There are dc fast chargers available for residential use from about $10K or more plus installation. The typical home has a 200A service. You would need a 400A service with a dc charger

 

[djd09]

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[Surf Cat]

Good reviewers would force the appraiser to "reveal" the best or at least better comps.

May the force be with you.....

 

[John Hassler]

Did your mom tell you to consult with AI to come up with an answer? Even assuming that AI is correct and an EV charger adds 1 to 3% to the value of a home, that is still a long way off from the 8% that the appraiser claimed it added to the value of the subject property in the apprasial I am referencing.

If you believe the adjustment was unwarranted and effectively done to hit the contract price, I would encourage you (if you don’t have the legal obligation to) send the report to the state. At a minimum I would expect the state to have a “chat” with the licensee. Alternatively, the licensee could already have priors or be on probation and this is one bridge too far.

This is not directed at you, but as a prior regulator it bothers me when someone complains state enforcement is ineffective yet will not file a complaint.

 

[Surf Cat]

If you believe the adjustment was unwarranted and effectively done to hit the contract price, I would encourage you (if you don’t have the legal obligation to) send the report to the state. At a minimum I would expect the state to have a “chat” with the licensee. Alternatively, the licensee could already have priors or be on probation and this is one bridge too far.

This is not directed at you, but as a prior regulator it bothers me when someone complains state enforcement is ineffective yet will not file a complaint.

Unfortunately.....no one does as evident of the reports everyone seems to get their hands on to have a gander at. Especially AMC reports from their favorite appraisers.

No good deed goes unpunished as they say.

 

[George Hatch]

This isn't worth state intervention, not even to make a phone call. It's just an adjustment.

A note from a reviewer or from the lender would be sufficient