I was devasted by what this ""appraiser"" qouted for my home. I had just recieved a $690 appraisal (at the end of 04/2006), and I wanted to refi, but, my lender, wanted their OWN appraisal-they send this guy out picked by my lender and in less than 10 minutes, gives me a $640k, not incuding the 20+ upgrades during the year. This is a beautiful CAPECOD home with 300K in upgrades, swedish cabinets, beleved buble glass front door, imported black marble counter tops, viking sub zero refri, on&on +++ Plus $3,000 in landscaping. But, my diliema begina, when this appraiser calls, cause he couldn't remember if I had 1 or 2 bedrooms on the first floor! WOW! really sharp. This really hurt my loan-I'm just stating that I do not recommend them. He devalued my home by $50K in less than 10 minutes. I tried to fight it, but, to no avail, the lender stayed with HIS appraisal. I'm lost for words, then the ""Appraisal Company Owner ""called defending his 10 minute visit! Not even stating, yeah, ""will come out and look ourselves"", could he have made a mistake?? Could he have rushed it? Did he really look at all the comps? Did the other properties have upgrades or were the home in their orginal consition?? I told them this is NORTHERN FAIRFAX, the most expensive area in Virginia, next to the beltway. (Projected 55+) to move into the area by 2007. He lowered it 50K!! WOW! Great appraisal. You generally take an AVERAGE. Then the ""manager"", stated, its OK not to spend an hour, its OK just to spend 10 minutes! I've bought several homes and refi and no one stays 5 minutes to do an appraisal, then calls you, cause they can't remember, if you had 1 or 2 bedrooms! How can you take pictures, take measurements, look at everything...then only compare the comps??? ONLY??? This was an horrible expereince!!
Pros: There in and out fast fast fast
Cons: they are sooooo fast, and not up on the current mkt--low, low they don't look at upgrades