Appraisals By Michael

Probably one of the most arrogant and self-​infected individuals I have ever met. The only conversation that he had any interest engaging in was about how great of an appraiser he was. He has no empathetic sense of urgency and as he says, doesn’t really care about how the sale goes. He will tell you about how long he has been doing this and how much business he ‘walks away from’. Although he said that he would have the appraisal back in 2 – 3 days, it took him over a week. When it was received, it was 21% less than the next higher appraisal, and approximately 32% less than the 2 existing contracts on the property. Because the bank was actually surprised by his appraisal and because of it being an FHA sale, they asked for an ‘appeal’. His response time was pathetic and irritating to all parties involved. It was a first time purchase for a young couple that truly meant nothing to him. The bank apologized profusely about using him and stated that this would be their last time. Had they read the Google reviews on him beforehand, they would have never have used him. He is just a very smug and affected individual who does not deserve to have a business.

Property has been sitting on the market at EXACTLY his appraised price for 60 days now with not a single offer. Because of lender limitations it cannot be listed or sold below his appraised price. He was given REAL repair estimates and a full home inspection which he said he «might look at» and that «some of it is relevant and some of it ‘t». I asked him to look at the listing history for indication of market and he said «that’s not relevant to what we do». Recently he was asked by the lender to add an REO addendum (an extra charge) in which, despite the reality of the situation staring him in the face, he revised his estimate UPWARD in the REO addendum. If you want an inflated, unrealistic, price for your property this is your guy, it’s still 2006! In this case though he has really screwed things up with his very poor valuation. Oh, and my favorite part was after he agreed to a $ 25 lower price (approx 7% less) than his asking but when it came time to pay, right after the site visit, he commented that «Oh yeah, you’re the guy that wanted to haggle, you know what they say never negotiate with your Lawyer or your appraiser.» «Are you really going to burn me over $ 25?, I always negotiate!» I said. To which he replied «I just won’t be able to spend as much time on your file» In hindsight I should have put my pen down at that moment and just gotten in my car and driven away.