What you would point out in a complaint would be things like factual errors like the wrong square footage, missing amenities like a fireplace, airconditioning, pool, patio cover, wrong number of garage spaces, etc. Also if there was no accurate adjustment for condition of the properties being compared with yours, although this is a more subjective issue. I am sorry for you unfortunate situation and hope you can get some satisfaction and hopefully move on from here. Thanks for your question!
Q: This guy delibertly manuplated the values & facts to come in at a much lower amount.
A: How did he do that? Did he make a mistake with the square footage? Did he use the wrong number of bedrooms? Did he use similar homes to yours for comps? Did he go outside the 6 month time frame for comps? Did he go outside your neighborhood more than a mile and use homes that were not in any way like yours? What did he do to deliberately manipulate values?
Q: He is not fit to be an Appraiser and should have his license revolked.
A: What exactly did he do that was wrong?
Q: He has devastated me and I cannot get out for 90 days. I am forced due to the market to take his Appraisal.
A: Does that mean you need to sell and are being forced to complete the transaction at the lower price? Is he the one who is devastating you or is it the market that is providing the devastation?
Q: He put a very nice home down to foreclosed prices.
A: If the only comps on the market are foreclosed homes, then those are the real comps. There was a day when foreclosures were NOT used as comps, but those days are gone. In reality, in many communities foreclosed homes represent the actual market values because they are the predominate homes on the market. You may not like it, but it is the reality of the current market. And itâ€™s not just affecting you â€“ it is affecting ALL of us. Also, there are some very nice homes that have been foreclosed. Not all foreclosed homes are â€œdistressedâ€ â€“ just because a home was foreclosed does not mean it is an inferior home or is priced less than market value.
Q: Can I still file a complaint with the State Appraisal Office if I go into Escrow & take his crooked appraisal amount?
A: Yes â€“ but Iâ€™m not sure it will do anything.
Q: He needs to be stopped before he does this to some other poor old person?
A: Low appraisals are happening all the time â€“ there are a number of reasons for this, including HVCC. The hardest thing for those who have lived in their homes for years to accept is that the value that was once there is now gone. I run into this all the time. We are in a severely depressed market and, no matter how nice your home may be, or how much sweat and love youâ€™ve put into it over the years, it will not be worth any more than the comparable values of homes around you â€“ regardless if they are normal sales, short sales or foreclosures. Itâ€™s just the way it is, unfortunately.
Here was your original question about your situation: http://www.trulia.com/voices/Home_Selling/What_can_you_do_if
Why do you think it was "crooked"? Further, how did he benefit from the low appraisal? Follow the money; how did it benefit him?
Further, it might be legitimate for him to compare foreclosed homes with yours. If a buyer came into your community looking for a house somewhat like yours, would that buyer be able to find a foreclosed home for less than the house you're selling? If so, then--unfortunately for you--those foreclosures are comps. They're comparable to yours.
You could always file a complaint with the state regulatory office. But they're going to be asking some of these same questions: What basis do you have for saying the appraiser is crooked?