1. Appraisals NJ

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    Mendham, NJ

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    Appraisals NJ

    5.0 (5 reviews)
    Closed 8:00 am - 8:00 pm

    Services - Appraisals NJ

    Personal property appraisal

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    Watkins Appraisal Services

    Watkins Appraisal Services

    (1 review)

    Watkins Appraisal was hired to appraise a property under contract for purchase. Mr. Watkins came to…read moreinspect the property while it was being inspected by a home inspector and a septic inspector. The septic inspector said the septic system had failed and needed complete replacement. The home inspector said that in addition to termites, wood rot, mold, problems underlying the whole recently installed roof, cracks in an important retaining wall, decks with no proper support, and toilet gases being vented into the attic (and other problems), the foundation had major spreading cracks -- and that was on the wall that faced away from the rushing stream. The basement wall that faced the stream was hidden in insulation and could not be inspected. I asked Mr. Watkins if the condition of the property is factored into the appraisal. He said yes. I had the inspector show him the cracks, a severe structural problem. Two weeks later, after the deal had been cancelled due to the disastrous condition of the property which would've cost hundreds of thousands of dollars to address, Mr. Watkins sent his "as-is" appraisal report. He valued the property at the 50k OVER the asking price, 125k over the price it was under contract for. There was a disclaimer in the report mentioning that it was based on an extraordinary assumption that the building has no structural damage that would negatively impact value, and that appraisal could be amended after a structural engineer's report. Well I'll say, that is a pretty extraordinary assumption -- and even if we make that assumption, the number he arrived at seems high as a kite.

    From the owner: -Buying or selling residential real estate -Primary and…read moresecondary financing -Pre listing services -Pre purchase assessment services -Foreclosures -Estate valuation and probate -Estate settlements -Divorce settlements -Property tax assessments -Insurance assessments

    Appraisals NJ - appraisalservices - Updated September 2026

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