Their license should be revoked. Why are they still in business?
It was not my choice to hire "Smart Valuation Appraisal Services" to appraise my house on 4/2/2019, but my lender made me pay by my credit card $445 on 3/29/2019 in order to proceed with the refinance. The appraiser, Charles Cain, is lazy doing his job coming up with an appraisal report containing ALL old comparison data from 2018 appraised my house at $555,000, compared to the market analysis provided by my realtor that showed an average Sold price of 29 houses within 1 mile distance from my house in 2019 is $888,129. The inaccurate appraised value of $555,000 not only caused me emotional distress dealing with refinance, but also it would have costed me $8500 out of pocket for Mortgage Insurance Premium if I did not dispute the appraisal. The old appraisal report used all old comps in 2018 that caused the appraisal evaluation is inaccurate and bogus. That was the whole point of making me wait for 3 weeks to go through a very slow dispute. After 3 weeks of trying to get a hold of this appraiser, he still sends back another appraisal report using ALL old comps in 2018 to appraise my house less than the actual value in 2019. The only thing change in the new appraisal report is the value at $580,000, which is the number my loan officer guessed at the time filling out my loan application, and it was before I received the Market Analysis from my realtor. $580,000 was just a GUESSING number, thus it is not accurate anyway. Average Sold price of 29 houses within 1 mile distance from my house this year is $888,129; therefore, the new appraised value $580,000 is still very low compared to the true value that the current market responds. This appraiser has been trying to decrease the value of my house in order to benefit the lender and disadvantage the consumer in my refinance. He also violates my privacy by taking pictures of my bedroom, to be specific only my bed in the picture, nothing else, without my consent. This appraiser did not do anything for what I paid him for. His bogus estimate at $580,000 appraised value (from the original appraisal $555,000) still costs me $3387 for Mortgage Insurance Premium out of pocket (from the original MIP $8500). As the result of all these hassles, my refinance could not move forward. read more