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    Ravenwood Appraisals

    5.0 (1 review)

    Services - Ravenwood Appraisals

    Personal property appraisal

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    6 years ago

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    Erin Wallace Appraisal Service

    Erin Wallace Appraisal Service

    1.0
    (1 review)

    This company completed my appraisal for a cash out refinance. The appraisal came back very low. He…read moreused comps that were not same bedroom count or square footage. He instead only used comps in the neighborhood in order to not do the extra work an look for what are comparable properties in the surrounding area or the same zip code. There were other pending sales that were significantly more that would have changed the value of my appraisal. A professional should be able to advise a lenders appraisal department to ask if the borrower would wait in order to have a better appraisal for the lender and borrowers and not rush in order to get paid. The borrower has no ability to contact the appraiser in order to dispute or clarify any information on the said appraisal. Now the loan officer is no longer allowed to contact the appraiser either. Only the appraisals department for the lender can. Guess what they cannot be in contact with the borrower. Due to new laws The lenders now have this pool of appraisers that are chosen at random to see who will take the assignment. There is no way to check the quality of work or reputation of the company that is effectively putting a value on your property. The only recourse is a appraisal dispute form after it has been completed. Unless you know all of the ins and outs and criteria of the appraisal guidelines it is a frustrating waste of your time. All logical points will be discounted and denied. Then you find out that it is up to an underwriter if you have the grounds for a new appraisal. Well I didn't. The borrower is left in a position where he has locked in a rate and has to choose to walk away and work with a new company and try and get the same rate almost 30 days later. In this economy the rates are only going up this isn't happening. The other option is to take the deal that effectively was not what the lender was trying to deliver but due to the appraisal cannot be delivered. Do your research on the value of your house before refinancing. Check websites like Zillow and Redfin looking for comparable properties that are in 3-5 mile radius of your home. Try and find sales or comps that have closed within 30 days or are pending sales that are worth waiting for the sale to be closed before ordering the appraisal. Make copies of them and interact with the appraiser because that will be the only chance you will get. Some people get paid by the job, others by a commission and they all want to get paid asap. As the borrower this is a 15-30 year commitment on paper and will end up feeling like you have been strong armed into a sub par deal because time was not on your side. One last thing, as the appraiser was leaving he said you have a nice 4 bedroom house, um it's 5....

    From the owner: Our professionals will treat you with courtesy and respect. We provide services honestly and with…read moreintegrity. For more information, call or click today.

    Ravenwood Appraisals - appraisalservices - Updated August 2026

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