ComplaintsforSuntender Valuation
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Complaint Details
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Initial Complaint
06/26/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
I have engaged their services to facilitate a refinance on my home in order to access some equity. The appraiser assessed the value at $356,000 in March 2024. Despite providing details of recent improvements and presenting a comparative analysis of nearby properties, the appraiser seemed unwilling to consider these factors. There was a discrepancy in the comparison, as my home, built in 2018, was evaluated against properties from the 1980s. To address this, I compiled a report highlighting sales of homes built between 2014 and 2017.Currently, I am selling my house for $405,000, which is $49,000 higher than the appraised value. Had the appraisal been more accurate, I would have proceeded with the refinance instead of selling. Unfortunately, due to the inefficiency of this company and their appraiser, I am now in a situation where I must sell my property. I recommend exercising caution when considering this company and their chosen appraisers.Business response
06/26/2024
Hello, we are sorry to hear that the owner of the property is not happy with the appraisal report. However please note that per federal lending guidelines, we are not allowed to influence the appraiser. Please refer Appraiser Independence Requirements: *****************************************************
Per Appraiser Independence Requirements, we cannot refund the appraisal fee. The appraiser must be paid.
If the owner is not happy with the appraisal. He can reach out to the state board for further investigation.
By the way, two of our independent appraisers did appraisal for this property. The first appraiser estimated $356,000 on 3/8/24 and the second appraiser estimated $366,000 on 6/12/24. None of them is close to the owner's estimate $405,000. Please dismiss the case. Thank youCustomer response
06/28/2024
Complaint: 21907201
I am rejecting this response because: there has been improvements done on the property. It was not considered. How could a buyer buy it for $405,000 when the property is not worth it? In appraiser report the properties that were compared were propertied in 1980's and 1990's. In my report I have showcased properties from 2014 year, as mine was built in 2018. I compared it to a single family home with similar sqft. I have attached my report. They compared a 2 storied house, you have to compare similar floor plans. How did they not no it.
Sincerely,
*****************************Business response
06/28/2024
We have already explained in the prior response that per federal lender guidelines, the appraiser must be paid: *****************************************************. We are an appraisal management company and do not have the authority to determine who is right or wrong. If the borrower is not satisfied with the appraisal, she should contact the state licensing board. Thank you.Customer response
06/28/2024
Complaint: 21907201
I am rejecting this response because:
Sincerely,
*****************************
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Contact Information
5776 Stoneridge Mall Rd, Suite 325
Pleasanton, CA 94588
Customer Complaints Summary
2 total complaints in the last 3 years.
1 complaints closed in the last 12 months.