Appraisal

[Lizina Green]

I was talking with a RE agent and found out that the quality of appraisers differ greatly and this an investor can skew the property value especially in up-and-coming market. Is there a way to assure the appraiser? 

[Chad Svendsen]

The mortgage assigned the appraisal to management company. Every management is different some have a small panel of appraisers that they use other will blast it out and who ever has the lowest bids wins. A little messed up huh? The mortgage company can not engage or discuss the appraisal with the appraiser to after it has been completed. It is all handled by the management company. So technically no the mortgage company sends it to a management company and they assign it in most cases. Some mortgage companies have inhouse appraisal systems but that is kind of hard to explain and boring. There is no control over who gets it expect by the management company. This is to keep the appraiser insulated from the transaction and not influenced by buyers or sellers or the bank.