I agree with your assessment. The one reason I was considering the lawsuit is because the builder said that the home was ready for appraisal and the flooring was not in. The appraiser stated that too much construction was going on for him to measure the "as-built" extra 600 sq. ft of home.
I just feel that I the builder would have waited 2 more weeks to allow the flooring to be installed, it would not have appraised short. Then when I filed a dispute to correct the sq. ft. error with as-built drawings--the builder would not allow the required time by the appraiser to complete the dispute.
Even the Harris Count Appraisal District Tax assessor had come by a few weeks prior to the bank appraiser and correctly appraised the home to include the as-built extra 600 sq. ft.
I just believe the builder forced me to initiate the appraisal before the home was ready and then did not allow the dispute to be resolved.
The appraiser is under contract with the Bank providing the loan. Can I sue the appraisal company?
Thanks for your assistance. It was what I expected to hear. The good news is that I planned for this contingency also. My loan was for 5% down--just in case the appraisal came in short. So, the only issue was that I could have kept 5% more in my pocket for upgrades after closing.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).