Coston Appraisal and Research-John Coston APPRAISAL FRAUD ,DELIBERATE LOW BALL APPRAISAL, KILLING OUR VA LOANS Melborne Florida
First and foremost, I am a real person. My name is Roger F. My address is (((REDACTED))) Vero Beach. 32962. My phone number is 772-xxx-xxxx. My email address is (((REDACTED))). I am an honorably discharged US army Vietnam era veteran.I recently applied for a VA refinance on my home here in the highlands subdivision of Vero Beach, Fl. I qualified based on credit and income requirements. Next step, the VA sent a 'so called' appraiser out to value my property. He arrived late in the day, andsaid he had several more to do before he returned to his office approx 40 miles to the north. He took a series of pictures, inspected the home and left( PS, the home is immaculate as we take pride in having a clean beautiful residence)About a week later, the appraisal arrived with a LOWBALL figure which was beyond comprehension. When I applied for the refinance, I had done EXTENSIVE research as to the market value of different recently comparable properties in the subdivision. His so called appraisal was almost $30000 under recently sold homes compared to my property in exces of $30000!!At first I blamed total incompetence, of which I learned later that either these VA appraisers are DELIBERTALLY told to lowball appraisals as they are basically 100% LTV or he took it upon himself to engraciate himself with the VA that he works for. Irregardless, this is FRAUD, pure and simple. He is ILLEGALLY depriving me of something I am ENTITLED to as part of my entitlement for serving, just as I am legally entitled to receive care at the VA hospital, which I do.BTW, he used BOGUS comparions as his comparables in the so called appraisal, including a gutted out forclosure stripped out to bare walls with no cabinets, plumbing, flooring, etc, and a home NOT even in the subdivision on a dirt road with no streetlights or storm sewers in a marginal neighborhood north of here.On a final note, I have contacted several realtors in my immediate area that have lost LEGITIMATE sales due to these unscrupulous appraisers. SO, I am asking any other victims to contact me, anytime. Let's stop it before any more damage is done!