An appraiser that raised serious questions about Competency, Professionalism and Ethics.
A Vacation and a Beer Don’t Make You a Local Appraisal Expert
My experience with BP Appraising was one of the poorest professional-service experiences I have encountered, and I would strongly caution homeowners and lenders considering their services.
To be clear, my concern is not simply that I disagreed with the appraised value. My concern is the process, methodology, comparable selection, apparent local-market knowledge, and level of professionalism I personally experienced.
The appraiser traveled from hours outside the area and made comments during the visit about being in the area on vacation, getting the appraisal completed, and drinking beer afterward. Those comments left me seriously questioning the level of attention and seriousness being given to an appraisal with substantial financial consequences.
A vacation is not local-market experience.
Having a beer in a community does not establish geographic competency.
And similar square footage does not automatically make two properties meaningfully comparable.
In my opinion, the appraisal failed to adequately account for significant characteristics of the property and demonstrated a concerning lack of understanding of the factors that differentiate properties within this market.
Professional appraisal work should involve appropriate comparable selection, defensible adjustments, thorough research, proper resources, and an understanding of neighborhood and property-specific value drivers.
I wasn't simply disappointed by the number. I lost confidence in the process that produced the number.
I have retained documentation concerning the appraisal and my interactions surrounding it. My comments here reflect my personal experience and opinions based upon those interactions.
An appraisal can affect financing decisions involving hundreds of thousands of dollars. Homeowners deserve an appraiser who approaches that responsibility with preparation, diligence, professionalism, and demonstrated knowledge of the market being appraised.
If BP Appraising were assigned to another property of mine or others, I would immediately request a different appraiser.
My recommendation based on my personal experience is simple:
Find someone else. A vacation doesn't make you a local. A beer doesn't make you an expert. And a license alone doesn't make the work professional.