Complaint Review: CBS Appraisal

My first experience with Robert was great.  He came out to my home and discussed the whole process of an appraisal and how he goes over the house and comes up with the value based on not only the home but also the comparable sales in the area.  We chatted for almost a half hour in regards to his experience doing this and some general things about home ownership.

The problem was two weeks later I received the appraisal from my lender that shows the home at almost one hundred thousand dollars under my previous appraisal done six months prior.  I than come to find out after some research that he has been reported already this year with Capital One and is in the process of working on an appraisal someone else has challenged

After submitting the appraisal to several other appraisers, mortgage lenders and real estate agent I have contacted in the past they all asked that I have the appraiser review the appraisal as it looks as though the comparable sales were not done correctly.

The appraiser has been contacted in good faith as an honest mistake had taken place.  Was meet with a very rude, disgruntled man who refused to even review the appraisal again to confirm no errors took place.

In the process of working with HUD and the federal housing commission to have this resolved.  My lender has assured me they will no longer use this man or his company as the only experiences that have come from dealing with this company have been extremely negative.

Look forward to seeing this man on the other side of a court room. Till then I'm stuck paying almost $200 dollars in monthly PMI.  Will be refinancing my home as my bank has already estimated the value of the home at the very least to be seventy thousand dollars above CBS's appraisal