Comps should be properties that have sold within the last 90 days. Thanks to a real estate market that continues to recover, many U.S. homeowners have been enjoying rising home values.Even so, prospective homebuyers and refinancers may still encounter the obstacle of low appraisals.. The property tax bill is tied to a report prepared by the local tax assessor, based on the assessor's estimation of the market value of your property. If properties rarely change hands in your neighborhood, that’s another potential problem. My appraiser is contesting that my lender was their client and not me so therefore I have no grounds to sue for damages. 6 Big Reasons Employees Sue, And How To Protect Yourself. When you buy or refinance a home, mortgage lenders require an appraisal in order to properly assess the property's worth and ensure … The reasons issues that arise from a bank appraisal can delay a closing can vary from a home that under appraises and the buyer and seller cannot come to new terms or because of repairs that are required by the appraiser. It's possible for a property to appraise for lower than the agreed-upon sale price due to bidding wars or a seller's elevated asking price. Problems with a bank appraisal are a very common reason why a real estate closing can be delayed. The appraiser returned his report giving the home the comparables for square footage, pool, land and structure value but, wrote on his report that he could not find a home on the water to compare it to give the … Common examples of illegal lending practices include:  X Research source Encouraging you to include false information on your mortgage application in order to get a loan. My lender ordered the appraisal. Property assessing is an inexact science, so you may have grounds to challenge your bill and save hundreds, or even thousands, of … Bill can be reached via email at [email protected] or by phone at 508-625-0191. The institution or person can be a bank, lender, appraiser, mortgage broker, real estate broker, or other individual. Typically these claims are groundless but there are many reasons that an employee can fall … Waller, 18 Real Est L J at 244. The bank sent a VA approved appraiser to the property. When that happens, the buyer and seller must come to an agreement on how to proceed: Either the buyer pays more out … 3. That could be grounds to dispute an appraisal. Updated By Craig Berry. Bill has helped people move in and out of many Metrowest towns for the last 29+ Years. Negligent misrepresentation exists when an appraiser had a duty of care, the appraiser supplied inaccurate information, and another party … Discovered the 840 square feet figure by measuring the condo myself and confirmed this figure with Orange County Property Appraisers website. In tort, a third party may sue an appraiser for negligent misrepresentation for an inaccurate appraisal. If your appraiser used older comps, you may be able to show that the market has changed. About the author: The above Real Estate information on the how to challenge a low real estate appraisal on my home was provided by Bill Gassett, a Nationally recognized leader in his field. Signing a performance appraisal is not like signing to acknowledge receipt of the employee handbook or acknowledging that you read and agreed to the company's drug-free workplace policy. I paid for the appraisal with a personal check.