ComplaintsforAction Appraisers Inc

• Initial Complaint

  05/04/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Action appraisers was sent to appraise my home by ********* Mortgage. They appraised it about $50,000 below same floor plan houses in worse condition just down the street. The comparables used were old and included distressed sale properties. When I used the ********* appeal process they dismissed the appeal without any consideration or explanation. They have BBB negative reviews now three times and it appears they are kept in business by capturing mortgage company work at low cost but doing a poor job.

  Business response

  05/12/2022

  May 12, 2022

  To Whom it May Concern: Complaint ID ********

  We have recently received a complaint from the Better Business Bureau regarding an appraised property in North Columbus. We take all complaints very seriously and would like to address and rectify any issues in a timely manner. It is understood that a homeowner has filed a complaint regarding their property. Please understand that we did not receive any correspondence directly from the homeowner, nor any from Our client. Typically, any issues regarding values/discrepancies must be channeled through the client. If the homeowner had reached out to us, we would have directed them to do such. Please note that the homeowner is not the intended user of this report nor was he ever mentioned by the client/lender as the intended user. To the best of my knowledge the homeowner is not a licensed appraiser and probably does not understand the practices, policies, and guidelines (and is not expected to be) that a professional appraiser must follow. The homeowner has stated that he has a “legal” 4th bedroom. As per guidelines handed down by Fannie Mae & Freddie Mac and following ANSI Methodology note that this 4th bedroom is below grade and therefore not included in the actual GLA of the property. It is however noted as a bedroom in the lower level (below grade) which was credited for. (Included ANSI documentation and Fannie & Freddie regarding below grade square footage especially for split level style homes) The homeowner mentioned of other sales in his neighborhood that were identical in style and some non-arm’s length transaction and similar condition. Those addresses were never provided to us by the client for us to give further consideration. It is also noted that the only correspondence regarding the appraisal was from Our client regarding occupancy. Since no additional requests came from the client regarding the appraisal report it appears that the intended user was satisfied with the conclusion of the appraisal report. If the homeowner was or is dissatisfied with the results their grievance should be towards the lender and not the appraisal company.

  Thank you,

  ****** ****

  ***** *****

  Action Appraisers, Inc 

  Customer response

  05/12/2022

  the response incorrectly states that addresses for proper comparable properties and properties not at arms length transaction were not provided in the request for reconsideration.  The addresses were there and exact sold prices given which are a matter of public record.   The response incorrectly states that the requests for reconsideration and recourse were not directed through the mortgage company.  In actual fact, all request for reconsideration was worked through the mortgage company.  Finally, the response arrogantly implies that because the homeowner is not a licensed appraiser, they must not know how to properly appraise the property.  The fact is that the appraisal was 25% low and any informed citizen can spot laziness in the report in that two other methods for arriving at value are admitted to exist but not executed for the appraisal.  At no time in the response did the appraisal company offer any explanation as to how a bathroom and two large finished rooms could be added to a house already appraised by the company and only $5000 added to the value.  It is implied that the mortgage company must somehow be satisfied with the appraisal.  I know they were not, in fact at closing they listed a value for the home of $245,000 rather than the appraisal company's $195,000.
  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩