ED Magedson – Founder
Underwood Appraisas LLC110 Hillcrest St Pelham, Alabama USA
Underwood Appraisas LLC SUBPAR- NOT EVEN CLOSE Pelham Alabama
Im currently in the process of attempting to purchasing my dream home. I was an estimator for a major general contractor, so am very familiar with construction costs. Underwood Appraisals performed the appraisal on said propety, and submitted their findings on July 10th. Its now the 24th, and I have still been unable to get them to justify their appraisal. On the property is a large workshop. The workshop is 40x51 metal shop with an 8" concrete slab, 16' high ceiling wth custom steel trusses. 2 roll up doors, 1 30ext door, 2 sky lights. For this shop Underwood Appraisals gave a value of $5000.00. This is absurd. The concrete slab alone costs over 10k to construct. A conservatetive estimate of the shops value is 40k. To date Ive been unable to get Underwood Appraisals LLC to comment, much less justify their findings. I have spent well over 1k to date in my attempt to obtain this home, all of which will be lost thanks to this extremely poor appraisal. Protect yourself...ask questions....make sure your appraiser has the knowledge necessary to accurately appraise your home...or much time and money will be lost....as Im afraid it has been in my case. If I am unable to get Underwood Appraisal to assign a resonable value to the shop I will be unable to purchase the property and will be seeking a refund from Underwood appraisals LLC....in oder to cover the cost of another appraiser.
This report was posted on Ripoff Report on 07/24/2013 12:11 PM and is a permanent record located here: http://www.ripoffreport.com/reports/underwood-appraisas-llc/pelham-alabama-35124/underwood-appraisas-llc-subpar-not-even-close-pelham-alabama-1069710. 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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