Complaints

• Initial Complaint

  06/23/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Let me start by saying I referred by a mortgage broker. I used the man that was referred to me. He came by my property to do an appraisal on a fully renovated home with brand new roofing, brand new electrical, brand new plumbing, remodeled bathrooms, remodeled kitchens, no termite damage or rotten wood. Everything has been newly replaced and installed. He belittle my renovated property by comparing it to places that are not nearly close in the same comparables as my renovated property. He compared my property to properties that need renovations. Furthermore, his comparables on the rent alone made absolutely no sense considering the condition in which my property unit is in. Im going to put a link to the unit and if I can, upload this appraisal. I feel the need to do so because these people are scams and there is something frivolous going on with this company by devaluing peoples property. I never like to use race as a condition but it seems difficult for me to understand that this man saw a completely renovated property and compared it to properties that have visible termite damage and in need of renovations. Properties that have 10 year old roofs with mold and mildew in the bathrooms, whereas my property has four fully renovated bathrooms in a 100% brand new roof, I even sent him my most recent wind mitigation report showing that my roof is brand new with 20 years left of life. If you are a person looking to get a property appraised and you see this company beware Im telling you these people are shysters and there is an agenda.

  Business response

  07/06/2022

  Fastapp in a ************************************* ***** which facilitates the ordering of appraisal services for loan purposes as required by the ******************* Act which became law in 2010. Fastapp DOES NOT perform appraisals. Fastapp receives appraisal requests from lenders and Fastapp assigns those requests to a local independent contracted appraiser that has the proper geographic competency according to the Uniform Standards of Professional Appraisal Practice (USPAP) guidelines. The independent appraiser performs the inspection of the property and analyzes the data of recent sales to determine a market value. After the appraisal report is completed, it is then forwarded to our client, the lender, to determine if the report is acceptable based on their guidelines. If the lender has concerns about the appraisal report those concerns are conveyed to the *** which forwards those concerns to the original appraiser to address. After the revised appraisal report is returned to the *** it is again forwarded to the client for review. All concerns about the appraisal must be initiated by the client through the *** to the appraiser as required by the ******************* Act which strictly forbids anyone from placing undue influence on the independent appraisers appraisal report. The client nor the *** can demand or instruct the appraiser how to develop the appraisal report including the overall condition of the subject property or the comparables including the value of the property being appraised. The *** can ask the appraiser to re-verify their conclusions during the clients review process in which Fastapp had asked the appraiser for clarification and/or correction and the updated report has been forwarded to the lender for their review.

• Initial Complaint

  05/10/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  To summarize, we opened a portfolio loan that included 5 of our homes. ******** hired Fast App to complete the appraisals on all 5 homes. The appraiser showed up in an Uber that left him shortly after dropping him off. My Property Manager had to drive him home since his Uber left him. It took him 4 weeks to submit the appraisals to *********. Of the 5 he submitted only 4 were my houses. The 5th was submitted for *****************. This is not my home and not even in the same city as my home, yet I was charged full price for this appraisal. Of the 4 homes of mine he actually did, he only physically went to 3 of them, spending a total of 10 minutes at each home. There is absolutely no way he can guarantee a legit qualified appraisal on a SFH spending only 10 minutes inside the house. The 4th home, he never went to and was supposed to reschedule. The photos used in the appraisal are photos taken by my tenant that he requested be texted to him. At this point, we need to be refunded $3k+ fees we paid. Interest rates have gone up during this delay and has cost our business north of $10k as a result.

  Business response

  05/16/2022

  The person filing this complaint is not the client, the lender is our client and they have stated they are satisfied with their review of these reports.  Although this is the case, we are adding a response as we do want the BBB and the borrower to understand the facts from our perspective.  We were already contacted by the borrower/complainants regarding this matter, we thoroughly investigated and have found no merit to the complaint.   Fastapp had noted the claimants verbal concerns and they were discussed with the appraiser; the appraiser has denied that they did not personally inspect the interior of each property. Due to Federal Privacy rules the specifics of the conversations cannot be disclosed.
  
  Fastapp had requested additional specifics of why the claimant thought the results of the appraisals were flawed other than the amount of time the appraiser was at the property or the appraisers mode of transportation and at no time did the claimant provide any information to dispute the accuracy of the competed appraisal results. Again, the client did not have this complaint, this is the borrower.  It could be considered positive the appraiser took another mode of transportation to ensure he met his obligation when his car was not functioning.  Fastapp followed up with an e-mail again requesting additional information,  Fastapp received the following response After further discussion with our Attorney, I have been instructed to not send over anything in writing at this time. Due to ************** appraisal management company ***** guidelines and the state of Ohio appraisal board the appraisers fee must be paid to the appraiser for all completed appraisal reports unless deemed fraudulent or materially flawed, which there were no facts presented to Fastapp of this nature.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩