Reinbold & Assoc Residential, Thomas ReinboldPhone:(989) 781-5100
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- He sends a junior person to the home - - Brian - 9/14/2020 - comment
He sends a junior person to the home, so he never even steps foot on your property and then he just makes up his report from the photos. There is no way the guy who came out here has 40 years in the business, he looked to be about 23 years old. The appraisal was so far off, it is incompetence. Our home was built 5 years ago in an upscale neighborhood and is very well maintained. Our home, lot included, cost over $1.1 million to build 5 years ago. The sales comparison approach is only as good as the adjustments you make and his adjustments are a joke, valuing the home to have gone down in value 32% since it was built and we have been in a bull market for home prices during the 5 years after construction. If you want a less subjective view, our home literally cost in excess of $1.1 million to construct and he has a 'cost approach' valuation of $773,000. I know that our home could not be built today for the $1.1 million we spent, costs have gone up for construction during the last 5 years, yet he sticks a number on the page as if it means something. He just whipped it up from nowhere. Thanks for destroying my refinance process with horrible and unprofessional work.

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