Forum Archive: Posts by: phbrown

Does anyone out there have any experience or anecdotes with appraisers drastically undervaluing properties? I have some personal experience with this recently in my attempts to refinance, and have been hearing startling stories of drastic neglect for what the market actually values things at being. Does anyone feel that there are forces putting pressure on appraisers to undervalue. I realize that over valuing is part of what got us into this mess in the first place. I have heard stories of buyers and sellers agreeing on a price and appraisers coming back with valuations that up to 25% less than the agreed upon price. This seems to be more than coincidental. Don’t we as the consumers who have to pay for these appraisals have any recourse when we feel the job has been very poorly done?