Appraisers are using false standards for comps- foreclosures ... - Zillow

How do you stop an appraiser from using recent sales in the area for "comps" to estimate the value of your home?

Very simple... Pay cash, and skip the appraisal.? And if selling?? Just don't bother to sell it.? Of course, if you die, it will still need an appraisal for estate tax purposes, even though there presently is no Estate tax for estates totaling less than $5 million.

If you believe there are more appropriate recently sold comps, you can have your agent give the appraiser your list... but when it comes right down to it, the appraiser is licensed to do the appraisal, and a Realtor and consumer are not.? And as a profession, they have standards of practice that they comply with.? If you don't like the appraisal, you could always pay several other appraisers for a different opinion.

(Zillow does not use "comps" in their estimating method, and they specifically excluded "distressed sales" from their modeling; but it is in no way an "appraisal").

Source: http://www.zillow.com/advice-thread/Appraisers-are-using-false-standards-for-comps-foreclosures-short-sales-How-do-we-stop-this/484331/

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