- Report: #1020004
Report - Rebuttal - Arbitrate
Complaint Review: TSI Appraisals, Quicken Loans
TSI Appraisals, Quicken Loans1450 W.Long Lake Road Suite 400 Troy, Michigan United States of America
TSI Appraisals, Quicken Loans Wade MIchael Koutnik Refinance Appraisal Errors Troy, Michigan
I used Quicken Loans to secure the refinancing and they used TSI as the appraisal company which cost me $500. Quicken turned down my loan due to "low Appraised Value". I then went with Greenlight Financial Services an started the whole process over again. Greenlight used Strickland Real estate Appraisal Services.
TSI appraised my property at $400k while Strickland apraised it at $440K using the same comps in the area. TSI not only valued the comps at lower values but also used the wrong square footage for my property. I was present at both appraisals and watch how they were done. TSI spent all of 10 minutes at the property while Strickland took over 45 minutes.
I requested a refund from Quicken for the $500,00 that they denied saying they have no control over the appraisal process. Both Quicken and TSI should not be used!
This report was posted on Ripoff Report on 02/25/2013 12:31 PM and is a permanent record located here: http://www.ripoffreport.com/r/TSI-Appraisals-Quicken-Loans/Troy-Michigan-48098/TSI-Appraisals-Quicken-Loans-Wade-MIchael-Koutnik-Refinance-Appraisal-Errors-Troy-Michig-1020004. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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