Mike was available on short notice and did see the property on short notice. He presented an appraisal to our lender that did not follow USPAP recommendations. Specifically Mike did not use a cash based approach on a project that had a significant new construction component. The new construction was more than over 60% of the current value of the structure. On top of that this, the new construction is Class A, peri-medical space, but all the comps he used were from 1960 run down strips malls including spaces like old liquor stores and closed restaurants. All of this could have been talked about but when I asked him to explain his rational, he sent me back an email about Colorado law and it being illegal to try and influence appraisers. The loan people thought it was even more out of line than I did, they handed it over to their legal department since they are the actual owners of the appraisal. Either way, I had to contest the appraisal and put in an official request for new valuation (ROV). I never found out why he didn't use a simple cash approach. We now have to go out and redo the appraisal. At this point because of him, we lost $3500 as well as about 3 weeks of time. Still scratching my head as to way he would not either explain his reasoning or update the document with the recommended USPAP approach. read more