How many Appraisers does it take to do it right?

One appraiser? two appraisers? 3 appraisers, 4? Can they? The government wanted to change how appraisals were done, handled and who will do them, now we live the result. Here in the Manchester NH area I got a new Bank Owned Listing. They had bought it in 2016. Now it is already foreclosed?

That was only the start of the mystery and a journey. The home was empty so we go in and change the locks to secure the home. I have to take pictures documenting the home and for my broker price opinion. 

The home was clearly a manufactured home. One that came in 2 pieces, was put together on the site and sits on cement blocks. No foundation, no posts or piers and no anchor. For that reason some may call it a mobile home.

I completed the BPO as a manufactured home and submitted. The bank hired an appraiser to place value on the home to get it listed. Fast forward there is in issue. The appraiser called it a single family home. Under construction, listed as famed, not pre fab. Needless to say the valuations director had a melt down how i could be so wrong. I should loose this listing and never to list a bank owned home of theirs again. Wait, What?

She sent over a copy of the appraisal. Sure enough it stated single family. No mention of manufactured, it even listed there was a basement? Is this the same house? I checked the pictures and yes. I checked the tax card and wait, I am right, no basement and clearly says manufactured. I send to the asset management company who tells me to send to the appraiser. The appraiser calls in an uproar. He is right, no if's, and's or butt's. No sir you are not. 

He states he has a copy of the origination appraisal where the former owner bought the home and sure enough it states single family home, framed with a basement. NOW two appraisers are wrong.

Escalated to senior management, I tell them I was at the home my self. I took pictures of the skirting around the home. Took pictures of the concrete blocks holding it up. That no way, no how this has a basement. No way it is stick built and even had pictures of the crack down the middle where the home was put together.

The appraisers come back was there is no tires and no tongue so it is not a mobile home. Exactly, it is not mobile but sure is a manufactured home. His reply.... What is a manufactured home. He is from MA, we are in NH and he has never been in a manufactured home but sure would know if he was.

As I banged my head, i read the OA known as original appraisal and sure as snow is white, it said single family home with a value about twice what it is worth. Now the original appraiser was involved who hired a 3rd appraiser to clear the air. My 32 years of real estate did not count. My pictures did not count. My indisputable proof was tossed aside. So I met appraiser #3. Finally a local appraiser

She was familiar with manufactured homes. She shook her head as I showed her the 2 previous appraisals. 3 months later we had an appraisal that was correct. The bank was at a loss on the difference of value from a stick built home to a manufactured home. There was no apologies, just 3 months lost and a little more stress than needed. Oh yea, no apology. But the home was finally listed at what i gave for a price all those months ago. The manager did take time to call me a week later. They wanted to know how they can do better. The simple answer was to listen to me, the man on the ground with 32 years of experience selling in my area. She agreed and gave me another listing. 

We all know that there is a difference from agent to agent.  That a Buyer or Seller should not choose just any agent, choose the BEST agent for the job. 

My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.