Bad Appraisal on a New Green Home
We recently received a very poor appraisal on a new home we are trying to build for one of our customers. They/we are shooting for Gold/Emerald certification under the NGBS. Closed crawl, conditioned attic, upgraded insulation, tight envelope, extremely high performace HVAC, solar water heater, passive solar design, etc. Point is, we are not just doing a few small things and calling it green, trying to go the extra mile, shooting for a HERS below 50.
The appraiser and the bank said they do not give any extra "credit" for green features. One of the comps they used was over 25 years old so not even on par with a code house from an energy code perspective. Does anyone have any experience with negotiating (I mean educating) with appraisers. Are there are guidelines they should be following that I can refer them to. Bank does not seem interested in helping much either.
Any advice at all would be appreciated.
Posted Aug 9, 2010 11:40 PM ET
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