Posted by SCook85 on March 13, 2000 at 20:53:03:
I don’t see why people would raise their eyebrows at your question. I think it is a good one.
You hit the nail on the head when you said that appraisal are not an exact science. This is where the problem lies. Appraisers know that it is not an exact science and use it wrongfully. Many homes can look the same on paper but a real comparison between two homes can show a world of difference. It is unfortunate, but you and I both know that an appraiser who were to do what they really believe is going to starve. I think it is sad.
When I buy a home, I buy based off of what I know the home is worth. I never buy based off of what I THINK I can get for a home because a higher comp or two exist. Because I buy based on a lower value I am not forced into trying to get TOP DOLLAR for my homes when I sell them.
I do not have to order appraisals that often because I finance most of my own homes. I personally do not have an appraiser who I have used more then 2 times ever. I just used a new guy last week, who I was asked to use by my bank. He was right on with 2 of my sales so far, so I was happy with him.
So the guy I am using now I will continue to use him, my bank wants me to, so I don’t have much of a choice in the matter.