Horrible service, My mortgage lender hired Clear Capital to handle my property appraisal, and it was an absolute nightmare. The appraiser they assigned completely failed to show up to the appointment. Because of their sheer negligence and lack of oversight, my loan process was delayed by almost 5 weeks! Avoid them at all costs if your lender gives you a choice. read more

Faulty report by the appraisal. Seems like the appraiser spent 5 seconds with each room

What an absolute joke of a company. I just had them appraise a home nearly $100k less than any home in the area had sold, and even the comparable they listed showed that. The bad reviews on this company exist for a reason. Steer clear!! read more

I was forced into using Clear Capital for a Property Data Collection appraisal by the lender backing my refinance. The appraiser who came out to the house engaged in conversation about the house and the area as though he was familiar with the unique layout of the home. It is a bit unique as it is a single family "attached" dwelling and is defined as 1.5 stories due to the "basement" being partially below grade. The kitchen area is located in this below grade area, but it is a walk-out to ground level and has access from the main living area. After a pretty thorough inspection of the property and many, many photos (3 of the boiler/laundry room that is 6' wide), we waited almost 2 weeks for the results. The lender called to tell us they could not get a value from the appraisal company--don't confuse this with priceless, although I would have taken that. The explanation I seem to be getting is that this does not meet FNMA (Federal National Mortgage Association) guidelines. Essentially Fannie Mae won't back the loan that doesn't meet certain criteria. While the appraisal was going on, the only bathroom in the house was under a full rebuild...gutted completely on the day of the appraisal as luck would have it. I had notified them ahead of time and was told that was not a problem. On the day of the appraisal I was even told that I wouldn't need to send in pictures once it was complete (though the project was finished 12 days after the appraiser left). Despite being marked as a deficiency in the report for not having a floor, ceiling, walls or plumbing fixtures in the bathroom, I was told the reason they could not compute a value was due to the kitchen being below grade. Talk about strange.... I'm not the first or only owner of this property, I have a Fannie Mae backed loan (total GLA included the below-grade areas), comparables were located when I purchased the house (some even recently sold again), and the township has provided a CO each time. The appraisal company didn't care. I've done some research since the lender closed my application (after refunding my deposit as I did not think this was a typical situation). Here's what I can find and my interpretation (as well as some other professionals on some appraisal blogs): ====================== https://selling-guide.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B4-Underwriting-Property/Chapter-B4-1-Appraisal-Requirements/Section-B4-1-3-Appraisal-Report-Assessment/1736875861/B4-1-3-05-Improvements-Section-of-the-Appraisal-Report-10-24-2016.htm#Gross.20Living.20Area Gross Living Area (last paragraph) For consistency in the sales comparison analysis, the appraiser should compare above-grade areas to above-grade areas and below-grade areas to below-grade areas. The appraiser may need to deviate from this approach if the style of the subject property or any of the comparables does not lend itself to such comparisons. For example, a property built into the side of a hill where the lower level is significantly out of ground, the interior finish is equal throughout the house, and the flow and function of the layout is accepted by the local market, may require the gross living area to include both levels. However, in such instances, the appraiser must be consistent throughout the appraisal in his or her analysis and explain the reason for the deviation, clearly describing the comparisons that were made. ================================ Based on everything in here, the most important piece is "The appraiser may need to deviate from this approach if the style of the subject property does not lend itself to such comparisons." My house is not the only one in the area setup this way, though there are not any current comps to look at. Shouldn't there be a process in place to handle unique properties? Fannie Mae seems to have outlined a process that works and accounts for exceptions to the rules. ClearCapital, you need to get you act together. I have excellent credit, a FT career, never been late on any payment, have 10 years on the books of paying for this home and yet YOU are the reason I'm missing out on record low interest rates. It's absurd that I cannot even appeal this decision and hope that enough intelligent people read this to boycott your services. -A very unhappy customer read more

AVOID Clear Capital Appraisal and Charles Mark Fleck Appraiser. If they are assigned to your property, request a different appraiser immediately. I recently had an appraisal completed on a $1,300,000 sale in Pittsburgh, PA. Clear Capital Appraisal Management, based out of Nevada provided the appraiser for the project. Charles Mark Fleck Appraiser. Not sure he is local, but the Appraisal came in at $925,000... For a home on Grandview Avenue, the iconic view of Pittsburgh you see for every event NFL, MLB... he used inner city comps, two homes and a townhome. Look up 233 Republic St. He also had errors in his report, but the lender was forced to accept it. The Lender, underwriter, listing and buying agent all agreed that this was a terrible appraisal but the system is set up where the lender is forced to accept the word on one man over multiple professionals. THIS SYSTEM MUST BE REVISED. Our deal is moving forward due to quick thinking and team-work by all involved, but I'm tired of being silent on incompetent work and felt strongly that others need to know to be aware of these two particular appraisers. read more

Clear Capital is a horrible player in the Appraisal Management Company (AMC) space. I am a lender and work with many AMCs, Clear Capital is one that routinely gives me headaches. I had an appraisal last week where the report was submitted to Clear Capital on a Friday. Their automated system said to expect the report to be delivered to me by Monday morning. No report Monday morning, so I call to get a status update. Basically told "those automated messages aren't accurate, it can take 24-48 hours. I'll push for it to get out by end of day today." Nothing back Monday. I ask Tuesday "we will for sure have it back by EOD today." Nothing Tuesday, so I call Wednesday morning "it can take 24-72 hours." I let her know the guy 48 hours ago said it could take 24-48 and he told me that after a full business day (and weekend) from them receiving the report. In short, they have had the report now for 5 calendar days and 3.5 business days, and I still don't have the appraisal back. All dates in their system say their Delivery Deadline was 2 days ago. No accountability, and really nothing I can do. Such a criminal enterprise to pay them a fee, and they have no obligations to meet the expectations they give me. Then they move their deadlines in their communication to whatever is convenient for them. I once had an order with them that sat for 2 weeks from Appraiser's file submitted to delivery to the lender. They said they wouldn't charge us the AMC's fee, but they did and it took about 2 months for the borrower to get reimbursed. Miserable communication. They don't keep their commitments. Don't use them as one of your company's AMC. read more

These people are crooks and should be investigated for fraudulent business practices. My lender partnered with them to have my home appraised for refinancing so they sent out an appraiser. She spent less than 20 minutes on site and submitted the report within a few hours. I was surprised at the speed initially only to discover that they had written our names wrong on the appraisal report and that they got the number of rooms wrong as well. When I asked for a revision, it took several days for them to correct our names. Now, two weeks after sending the appraiser, they still have not corrected the number of rooms and refuse to issue a refund. Everyday I've tried Calling them and they say that nobody with the power to help me is in office. So I am short $500 and need to spend another $500 to get a real appraisal done professionally because ClearCapital managed to scam me. read more

Terrible customer service. They missed the promised due date and when I called to see where it was at they simply said too bad and hung up. This caused a closing delay and they could care less. read more

Our home appraised for over $265,000 less than six years ago. Clear Capital sent an appraiser out who spent all of 12 minutes in our home in appraised it for $210,000. We were trying to refinance from 30 to a 15 year mortgage and were denied. I have tried to escalate this and will be trying to get with her supervisor soon. A highly would not recommend this company at this point. read more

This company did appraisal on my property today for a bank. This has to be some type of scam. My property was just appraised for $103,000 more less than 60 days ago. I would enjoy to talk to the CEO or president of this company. read more

Clear Capital is a scam. If your lender uses Clear Capital you should consider using a new lender. They will take too long, charge your clients too much, and provide a very low quality appraisal report. read more

They are the worst AMC (Appraisal Management Company) out there. I work in the mortgage industry and Clear Capital allows their appraisers to consistently low-ball their appraisal by about 5% or more. So basically if you have a home truly worth $400,000. on the actual marketplace, expect your appraisal value to come in around $380,000. (plus or minus a few thousand). The issue with consistently low appraisal values is it unfairly cost consumers a lot of money. For example, the more equity a mortgage customer has, the lower the rate and/or fees. I had a specific example where the true value of a home for a mortgage customer was probably $340K-$360K. Even the Zillow estimate was $390,000. (though Zillow models are only slightly reliable). The Clear Capital appraisal came in at $307,000.. Because it was so low, it cost my customer over $400. in extra Origination Fees because, on paper, my customer went from 57% LTV (43% equity) to 62% LTV (only 38% equity). I am able to do the loan still, but at a big cost to my customer (over $400.). When contacting Clear Capital, they push me off to do a single appraisal appeal (dispute), but never really addresses the BIG PROBLEM. CONSISTENT LOW APPRAISALS and no repercussions for any appraiser that consistently comes in 3%-7% below the true home value. The appraiser gets paid no matter and their license is less on the line if they appraisal BELOW true home value. Terrible! read more