How would I file a complaint against a VA appraiser

[tjmax]

I beleave the VA appraiser deliberatly low balled the apprasal on the house i was looking to finance with the VA.

Now to explain a little, I did a ton of market research on the market around the home i was looking to purchase. I did this to educate my self and give a fair offer with out putting the screws to my self.

I offered 15,000 less then what the house was listed for, its what i estimated it would appraise for.

Now in comes the VA appraisal who compaired it to smaller homes in different types of communities but with in the general area of mine.

I was shocked to see the appraisal come in 20,000 under what i figured it would appraise.

The realtors and the lender each did their own market compairison and where dismayed at the VA appraisal and felt her was low balling it

We decided to try a different route then the VA and finance with a USDA loan. the seller aggreed to pay the re-appraisal fee's.

Low and behold the USDA appraisal was 26,000 higher then the
VA appraisal a full 600 over what i figured it would appraise at.

Both realtors indicated to me this VA guy does that all the time to VA loans and i think its wrong, it cost us a lot more money delaying our move a month and extra fees i would not have paid since i am a disabled Vet and a lot of stress on my family and a lot of extra work.

I feel something like this needs to be reported i just don't know how to go about it.

James

 

[Mile High Trout]

James, welcome to the club.

I just started a thread entitled 1-800-call-nobody.

I'm not able to get on the VA list, because I'm the new guy who's not grey in the face yet. Go figure.

Per your comment and complaint: You sound like a well informed consumer who knows the differences between value and price.

Take some perspective from appraisers immersed in these issues daily. You made it happen, now pat yourself on the back and help your buddy out who's fighting the mortgage process by lending him your applicable skills and friendly assistance. As far as losing a few bucks, if you made a deal work in today's complicated and sometimes improperly influenced marketplace, you've been successful in your efforts.

If you figure out a way to report fraud, we'll be listening. As far as figuring out a way to report a single instance of disagreeable value opinion conclusions, that's just not part of the bigger picture for all to many companies right now. Bigger fish to fry and all that.

Good fortune to you, and congrats on a successful conclusion. The notion of made whole in real estate is for the big fish. The little guys are regularly trampled over, and the company you're working with has nothing to do with it. If anything could be done, those Realtors would probably be the first ones to file complaints anyways. The markets are in upheaval due to other issues. One recent article talked about how lenders held 2/3rds of sales in the marketplace nationwide. That's a figure not seen in most of our lifetimes.

Make the most of success, and don't look back.

Your pal - Jeremy

 

[Mike Kennedy]

4. How would you file a complaint against a VA approved appraiser? What address can be used for this purpose?
VA fee appraisers are approved and their performance monitored by the Construction and Valuation Section at the VA Regional Loan Center of jurisdiction. Any complaints concerning appraisal performance should be directed to the Valuation Officer at the Regional Loan Center. A list of VA Regional Loan Centers may be found on our website at:
http://homeloans.VA.gov/rlcweb.asp

 

[Mike Kennedy]

Houston Arkansas
Louisiana
Oklahoma
Texas Department of Veterans Affairs
VA Regional Loan Center
6900 Almeda Road
Houston, TX 77030-4200http://www.vba.VA.gov/ro/houston/lgy/home.html
1-888-232-2571

 

[Cob]

I beleave the VA appraiser deliberatly low balled the apprasal on the house i was looking to finance with the VA.

Now to explain a little, I did a ton of market research on the market around the home i was looking to purchase. I did this to educate my self and give a fair offer with out putting the screws to my self.

I offered 15,000 less then what the house was listed for, its what i estimated it would appraise for.

Now in comes the VA appraisal who compaired it to smaller homes in different types of communities but with in the general area of mine.

I was shocked to see the appraisal come in 20,000 under what i figured it would appraise.

The realtors and the lender each did their own market compairison and where dismayed at the VA appraisal and felt her was low balling it

We decided to try a different route then the VA and finance with a USDA loan. the seller aggreed to pay the re-appraisal fee's.

Low and behold the USDA appraisal was 26,000 higher then the
VA appraisal a full 600 over what i figured it would appraise at.

Both realtors indicated to me this VA guy does that all the time to VA loans and i think its wrong, it cost us a lot more money delaying our move a month and extra fees i would not have paid since i am a disabled Vet and a lot of stress on my family and a lot of extra work.

I feel something like this needs to be reported i just don't know how to go about it.

James

Why would the appraiser low ball the appraisal on purpose? Does he/she know you? Does he/she have a beef with you? Just curious as to why you would think they would do that on purpose? Are you going to report the appraiser that did the USDA loan because it came in $26,000 over what you thought?

If the answer is no, then I'd like to know if god forbid something happens down the road and you are having trouble making your payments are you going to after the appraiser that appraised it higher?:Eyecrazy: