My wife and I were working with our credit union for a refinancing and were told we needed an appraisal. We were told a price and that the credit union would be choosing an appraisal company. So, we had to pay, but we had no say in who did the appraisal. We were a little hesitant at first but agreed.
The credit union selected David Adams, of Adams Appraisal Svcs LLC. We were completely unhappy with this company since the very beginning. The gentleman, I can only assume was David Adams, since he never introduced himslef, showed up the day of appraisal. I was immediately taken back by his lack of professionalism and courtesy. Not to mention he smelled like he hadn't showered in days. the entire time it took him to do the appraisal, he had his nose buried in his phone and was really only concerned with taking measurements. At one point he asked me if I had made any improvements to the property. I listed all of them out and could tell he was not paying any attention to my answer. Later it was confirmed because, he stated,"so, you haven't made any improvements while you have lived here"? To which I had to list all of them over again. He paid about as much attention the second time. These were some of the worst people skills I have ever seen.
This reflected completely in his valuation of our property. In the report he put, "no improvements in the last 15 years." We in fact made almost $50k in improvements that were never listed in the official appraisal report.
But finally what it came down to was the comparables he chose to reflect the value of our property. He chose several completely inappropriate properties to compare our home to. These properties were older, smaller, in lesser neighborhoods, and worse locations. Nothing about the properties he selected could be compared to ours. Ours is a ranch, which everyone in the Denver Metro area knows is more desirable which reflects in the price.
I was able to pull up 8 comparable homes, all ranch floor plans within 20% of the subject main floor square footage. They are between $575-$900. I believe these are better comps due to their age, size, school district and superior quality of finishes."
My complaint with this company is the complete lack of competence. This was the worst appraisal experience I have ever had. This company just wants to get paid to not do any real work. I called my credit union prior to the report even coming in yet to complain. I also complained about the tardiness of the report. It was supposed to be back in around a week, and two weeks later we finally had a report along with excuses of software malfunctions. In the end this appraisal showed my property decrease in value from 2 yrs ago when I purchased it. In a very hot real estate market like the Denver area, this is unheard of and ridiculous. I want this company and individual to understand how his poor work ethic has effected my wife and I being able to properly conduct our business. And we still ended up having to pay for his incompetence. I want my money back. read more
