Home Buying in 33993>Question Details

65galaxiexl, Home Buyer in Port Orange, FL

I am trying to refi so as to pay off my ex wife the appraiser apprased the house in the Mariner section and we live in the burntstore area.

Asked by 65galaxiexl, Port Orange, FL Sat Aug 10, 2013

How do I get the right appraisal as there are half million dollar homes being built right around us. Itson a half acre with a pool.

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Answers

5
Don't know why it. Says Port Orange My place is in Cape Coral . Any body who knows the Cape can tell you this woman has no clue to the value of this property. It is west of Old Burnt Store right off of nw 27th st one way in and one way out and comes with 3/4 of an acre with the same strap#! How do I get my own appraisal ?
0 votes Thank Flag Link Thu Aug 15, 2013
You can contact an appraiser and pay them to conduct an independent valuation of your property. If you are trying to refinance with your current lender it may even make more sense to contact another lender to discuss rates etc. If you would like a referral to a few local lenders please let me know; I would be happy to send a list.
Flag Thu Aug 15, 2013
unfortunately this is out of your hands until the appraisal comes back. All appraisals performed for banks and brokers are ordered through AMCs (Appraisal Management Companies) The only way is to wait and see if you get a value that is correct to the area if not your lender would have to issue a value dispute.


Thank you,
Adolfo "A.D." Diaz
0 votes Thank Flag Link Wed Aug 14, 2013
Danielle is correct. The appraisal will be based on homes similar to your home (age, square footage etc...). When you get the report if it is not using similar recent sold homes as the comps you will need to dispute the appraisal.
0 votes Thank Flag Link Tue Aug 13, 2013
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Appraisals are ordered thru AMCs (Appraisal Management Companies) these days to be in compliance with all the HVCC (Home Value Code of Conduct) regulations, the brain child of Gov. Cuomo from NY. This has cost America Billions in Lost Equity over the past 6 yrs.

These regulations have also devastated the Appraisal Industry, driving thousands of knowledgeable and experienced appraisers out of business.

Now days the appraisal order is basically put up for action to the lowest bidder or offered to appraisers at such low compensation that it attracts appraisers who just put a low value on anything they do to stay in compliance.

NOTE: this is not always the case, but its what happens

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0 votes Thank Flag Link Mon Aug 12, 2013
An appraisal will be based on the recent sales comparable to your property. Regardless of what is being built around you, if it is not similar in size, condition, amenities etc then they will not use those properties.

Once the report is completed & you feel there was an error you can dispute the value although you will need to be able to provide data that contradicts the value the appraiser came up with.
0 votes Thank Flag Link Sat Aug 10, 2013
I have done that! First of all My hose has a pool and is on 3/4 of an acre all married into the same strap number. It has a new roof and new tile. I built this house in 97. And it has a gazebo in the back yard with 35 ft royal palms, I think this lady was just having a bad day it is west of old burntstore rd with one rd in and one rd out. The lots are selling alone at 20k. I think she was on drugs I did compatibles and nothing that has been sold is even close to being that cheap unless it was a short sale. In my area the houses are seling on average at 120 a square foot but the Mariner area is only selling at 80 a sq foot. I think she valued it at the lower priced area
Flag Sat Aug 10, 2013
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