Episode 064 - Can You Get A New Appraiser or Appraisal?
Episode 064 - Can You Get a New Appraiser or Appraisal Report?
If I get asked once a day, it seems like its a hundred times a day, “Can I get a new appraiser or appraisal report?” No! No you can’t and get over it. Okay, just kidding, but seriously, probably not.
Bad appraisers and bad appraisal reports do happen and try as you might, you can’t get them changed. There are a few instances where you might pull off the hail mary and actually be able to change one of them up though.
Listen in to hear if you might have a chance with another appraiser or a new appraisal report.
SHOW NOTES
- 01:00 – Have you ever had a bad appraisal?
- 02:30 – What options do you have to get a new appraiser or report?
- 03:04 – Can you get another appraiser? Dealing with the issue at the beginning of the process.
- 04:02 – Reach out to the lender and state your case. Might make sense if: appraiser is not from the area, competency, or appraisal report type.
- 05:47 – If you can’t get the appraiser changed, consider changing the lender.
- 06:23 – Can you get a new appraisal report? Very tough to do. Dealing with the issue after the fact.
- 07:33 – Significant defects in the appraisal: square footage, gross negligence, factual data that is wrong (not adjustments or comparables).
- 09:10 – Don’t make the wrong argument. Don’t argue items that are opinion. Argue facts.
- 10:00 – “Easy fix”, get a new lender. FHA and VA loan issues.
- 11:15 – Don’t “blacklist” an appraiser. Might be illegal.
SHOW LINKS
- Dodd-Frank Act – https://www.congress.gov/bill/111th-congress/house-bill/4173/text
- Dumb & Dumber, One in a Million – https://www.youtube.com/watch?v=sxuxJpWnicU
- Dumb & Dumber, One in a Million Talk – https://www.youtube.com/watch?v=mDLoT5sWOmE
BETWEEN THE LINES LINKS
Web
https://www.facebook.com/groups/realestatebetweenthelines/
https://www.facebook.com/Brian-C-Lee-111822417027919/?
YouTube
https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?