Gold Star Appraisals

Description of Work: Had to get an appraisal through US Bank (don't get me started about the lack of service there as well) for a construction loan on a new house in Liberty Lake, WA. Picked an appraiser through their approved list of appraisers. I talked personally with Bruce from Gold Star and he was confused from the beginning as to how to treat our home as it did not fit neatly into the government/bank categories. Bruce also said this appraisal would take 48-72 hours to turn around. A week later an appraisal came in. I was aggravated with the value of the property but would be able to live with it, but what really makes this a terrible experience is the lack of knowledge and fortitude of the appraisal. The properties used to compare to our property were no where close in quality and size of a new construction home and due to the large adjustments which had to be made we were denied our loan. The appraiser should have gone to other lakes to find more favorable and comparable properties (other than foreclosures and short sales). Everyone in the lending industry who I showed the apprasial to said this is one of the worst appraisals they had ever seen. I think the appraiser tried to do his best but it was not good enough. I am out almost $700, have no loan, and have to completely start the process over again costing me almost 2 months on my project. Effort and good will was not enough here. What a let down.