Rate and Review Chris Jones Appraisals

- I refinanced my one - - knfKIFQzD1 - 3/26/2015 - comment
I refinanced my one bedoorm condo two years ago and had to pay for two appraisals totaling $1175. The first appraisal was done by an appraiser in WV about 60 miles away. All the sales in the appraisal were either foreclosures or short sales. There were about 35 sales at the time, 6 of which were distressed sales. He appraised my condo for $200,000. A second appraisal was ordered when I told the lender I was not going to refinance with them unless they used a local appraiser familiar with my market. I accepted to pay for the second appraisal which came in at $300,000 in line with the other sales of one bedoorm condo in the building. I called the second appraiser a few months ago to have my condo appraised again. I had a buyer interested in buying it. When he quoted his fee of $350, I assumed he was giving me a $300 discount (nice I thought). Later he told me that he only got paid $250 for the previous appraisal, that he normally charged $450 before a rule was passed making the use of AMCs mandatory and that he now gets paid between $200-250! I was outraged! What a rip off! How could this be allowed?