Consumer complaint received 2025-09-02 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Negative impact of inaccurate appraisal
Company: HomeXpress Mortgage Corp.
State: PA

Complaint narrative:
XXXX XXXX XXXX Effected party to the transaction XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Pa Re : Appraisal Rebuttal for Property Located at XXXX XXXX XXXX, XXXX, PA Dear XXXX XXXX XXXX I am writing to formally submit a rebuttal regarding the appraisal report for the property located at XXXX XXXX XXXX, XXXX, PA. After thoroughly reviewing the report, I have several concerns regarding the choice of comparable properties ( comps ) and the methodology applied in determining the appraised value. 
Specifically, the following issues require clarification : XXXX Distance of Comparable Properties : The comparables used in the appraisal are located over XXXX miles away from the subject property. The local real estate market in XXXX offers a sufficient number of comparable properties that should have been used in the analysis. Using comps from such a distant area raises concerns about the accuracy of the valuation, as the market conditions can vary significantly even within a XXXXmile radius. 
XXXX Discrepancies in Property Features : The report indicates substantial discrepancies between the subject property and the selected comparables in terms of square footage, age, and bedroom count. Specifically, the age difference is over XXXX  years, and the square footage of the comparables is sometimes more than double that of the subject property. Such significant differences are critical factors in determining the propertys market value and can not be overlooked. 
Square Footage : The size difference can result in a significant variation in value, as larger homes often command higher prices. The substantial variance between the subject property and the comps used is likely to distort the appraised value. 
Age : The age of a property plays a key role in its condition and market appeal. A difference of XXXX years between the subject and comparable properties affects both the depreciation factor and the overall marketability of the property. 
Bedroom Count : A discrepancy in bedroom count can directly impact both functional value and buyer demand. The report does not adequately address the impact of these variations on the valuation, especially when comparing with properties that have more bedrooms. 
XXXX Lack of Clear Explanations for Comparable Selections : The appraisal report does not provide a clear explanation for selecting these specific comparables. I would appreciate more transparency regarding how these properties were chosen and why closer or more similar properties were not considered. Without this clarification, the reliability of the appraised value becomes questionable. 
Given these points, I respectfully request a reevaluation of the appraisal, with a focus on using more locally relevant comparables that more closely align with the subject property in terms of size, age, and bedroom count. XXXX has enough comparable properties to ensure a more accurate and fair assessment of value, and addressing the discrepancies outlined above is critical in arriving at a more reliable conclusion. 
I appreciate your attention to this matter and look forward to receiving your revised appraisal. Should you need additional information or clarification, please do not hesitate to contact me. 
Sincerely, XXXX XXXX I further am documenting this to make sure that this has nothing to do with a larger complaint I have filed with the local board of XXXX in an attempt to make my company look bad

Company response to consumer: Closed with explanation