Revdex.com
N Delaware St #2020 Indianapolis, IN 46204- Dear sir: This is in response to a letter from your organization dated 09/19/concerning a complaint (#***) about our businessWe readily admit there was a scheduling error on our part and take full responsibility for the delay in arriving at the locationThe issue in this case centers around a disagreement in the valuation of real estate propertyWe take pride in delivering a professional product to our client, which in this case, is a lending institution and not the complainantUnfortunately, due to client confidentiality, we are unable to discuss the specifics of this appraisal reportWe will however, discuss in general terms the process of initiating an appraisal reportWhen a subject property is located approximately miles from our location, as was the case, the process starts with a review of the County Assessor property records card and other documents to include Warranty Deeds, plat/flood/ topographical and aerial maps of the property in questionThe next step is a call to the property owner to schedule an inspection, confirm the information gathered from the Assessor records and ask specific questions concerning the condition of the property, recent improvements and other pertinent facts relating to the property and the transactionThe information is gathered to better prepare for the inspection and identify potential closed sales/listings in the subject market areaAs Appraisers, we recognize that assessing property values is not an exact science, however we do our best to arrive at a fair value based on market data available at the time of the inspectionThe two points made in the complaint center around valuation of the acreage and basement spaceIn reviewing the data concerning the basement space, we believe the adjustments were made uniformly across the board and we were unable to document the complaint made in the letterIn reference to the site/acreage adjustment, it is important to understand that the subject and all comparable properties have a building site, normally around acre in size, that is valued separatelyThe value of the building site includes the site preparation, driveways, walkways, utilities and septicThe other acreage, over and above the building site, is considered surplus land and valued separatelyIn this case, the topography, utility and accessibility to the land were major factors in assessing valueThe value applied in the report was consistent with the factors noted and based on a market valuationFor the record, the appraised value was in excess of $20,above the Brown County assessed value and $above the value provided by the complainantIn conclusion, the Appraised value was based on a market analysis without prejudice or preconceived notion of valueWe regret the complainant is not satisfied with the results, but the report stands as deliveredAppraisal Associates
Revdex.com
N Delaware St #2020 Indianapolis, IN 46204- Dear sir: This is in response to a letter from your organization dated 09/19/concerning a complaint (#***) about our businessWe readily admit there was a scheduling error on our part and take full responsibility for the delay in arriving at the locationThe issue in this case centers around a disagreement in the valuation of real estate propertyWe take pride in delivering a professional product to our client, which in this case, is a lending institution and not the complainantUnfortunately, due to client confidentiality, we are unable to discuss the specifics of this appraisal reportWe will however, discuss in general terms the process of initiating an appraisal reportWhen a subject property is located approximately miles from our location, as was the case, the process starts with a review of the County Assessor property records card and other documents to include Warranty Deeds, plat/flood/ topographical and aerial maps of the property in questionThe next step is a call to the property owner to schedule an inspection, confirm the information gathered from the Assessor records and ask specific questions concerning the condition of the property, recent improvements and other pertinent facts relating to the property and the transactionThe information is gathered to better prepare for the inspection and identify potential closed sales/listings in the subject market areaAs Appraisers, we recognize that assessing property values is not an exact science, however we do our best to arrive at a fair value based on market data available at the time of the inspectionThe two points made in the complaint center around valuation of the acreage and basement spaceIn reviewing the data concerning the basement space, we believe the adjustments were made uniformly across the board and we were unable to document the complaint made in the letterIn reference to the site/acreage adjustment, it is important to understand that the subject and all comparable properties have a building site, normally around acre in size, that is valued separatelyThe value of the building site includes the site preparation, driveways, walkways, utilities and septicThe other acreage, over and above the building site, is considered surplus land and valued separatelyIn this case, the topography, utility and accessibility to the land were major factors in assessing valueThe value applied in the report was consistent with the factors noted and based on a market valuationFor the record, the appraised value was in excess of $20,above the Brown County assessed value and $above the value provided by the complainantIn conclusion, the Appraised value was based on a market analysis without prejudice or preconceived notion of valueWe regret the complainant is not satisfied with the results, but the report stands as deliveredAppraisal Associates