- Joined
- Jan 22, 2002
- Professional Status
- Certified General Appraiser
- State
- Florida
Did a custom home on acreage, came in significantly higher than the previous appraisal. I feel confident on my report, documented land sales, reasons for differences in quality adjustments, and went to the lower side. Lender with with previous appraisal, their perogitive (this is a very conservative lender - shock, shock).
Borrower called up wanting to know if he could appeal it, etc. I said, essentially, its their loan company, they can do what they want, then recommended he go somewhere else if he didn't like their loan rates, service, etc. So, I guess he's going to try another company and ask us for an update at some point.
The interesting thing is that this is the first time I've had a problem with being TOO HIGH with a borrower thats a builder/developer with very good credit. Generally, it's too low with a borrower with bad credit.
Borrower called up wanting to know if he could appeal it, etc. I said, essentially, its their loan company, they can do what they want, then recommended he go somewhere else if he didn't like their loan rates, service, etc. So, I guess he's going to try another company and ask us for an update at some point.
The interesting thing is that this is the first time I've had a problem with being TOO HIGH with a borrower thats a builder/developer with very good credit. Generally, it's too low with a borrower with bad credit.
