Appraisal Questions
I had my personal home appraised a while back, and felt that the appraisal was unfair due to the comps used. Upon reciening the appraisal I went to the App.'s office and raised hell and explained my case.
Several days later, I received an updated appraisal that was 9,000.00 higher, but still felt it was low, but he said that was all he could do. I compared the two appraisals and noticed that he didnt change anything on them except for the appraised price of the the 3 comps. He had raised all the comps up 9,000 and bumped mine up he same.
1. Is this even legal?
Seems like he didnt want to put any time or effort into it so this was an easy way out.
He also made the comment that sq. ft. is sq. ft. plain and simple and this was due to the fact that one of the houses that he used as a comp was similar in sq. ft. was also 57 years old and looked it, and mine was 20 yrs old but rehabbed 4 years ago.
2. Is sq. ft. really always equivalent?
The houses are around 1,000 sq. ft.