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HOME FIRST MORTGAGE CORP INCOMPETENT APPRAISAL OF PROPERTY RESULTING IN LOSS OF SALE ALEXANDRIA, Virginia
5th of Oct, 2011 by User677765
Due to the incompetence of this company I lost a sale on my home. The appraiser assigned to this property used "comps" that were not qualified for the type of property that was being sold & Home First Mortgage did not even make the buyer or the seller aware of the issue. The error was not discovered (or at least shared) until the buyer was ready to move forward with closing (based on the low appraised value) & only at that time did First Mortgage come back with the "story" that the contract was not valid due to the comps. Even though I was willing to sale for less than the true market value based on the bad comps the Mortgage Company could not process the contract due to their error with the bad appraisal. Also, due to the fact that I signed another lease based on this closing I lost a substantial amount of money due to their lack of competence. Buyer & Seller beware of using this company!!
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