Rejected is a harsh word. Maybe a better word is “not accepted?” Rejecting an appraiser is not always an easy thing to do, but it is a MUST if they aren’t competent to perform the assignment. Notice the word “compentent.” I use that word because that’s the precise word, according to a fellow instructor, who is a Certified Appraiser teaching on this topic.
Why did I reject an appraiser due to competence? The appraiser called to set the appointment time for the appraisal at my listing that is under contract. I asked a simple question, “Do you use a website to value owned solar panels?” The appraiser answered, “No.” That one answer gave me all the information I needed.
You see, valuing owned solar panels requires a formula and all of the data about the panels. Inputting the data into the website www.PVVALUE.com is required in order to provide value for owned solar panels. If an appraiser doesn’t use that website, how do we know the panels are being valued properly? Given any value?
Simply put, if an appraiser doesn’t use that website then we don’t know what method is being used. That website is highly regarded and is included in appraiser education as the reference point for providing value for owned solar panels.
A few days later, the buyer’s agent contacted me to ask why the appraiser was rejected. Relaying the above to him, he then asked, “Why should my buyer pay for more for an appraisal to give value for solar panels?” Another simply put, “Because the panels have value and your client will own that future value of energy savings.” And after that comment, I sent him the current energy usage for her information, along with every detail of the panels.
Appraisals can be rejected, but you must have a valid reason for doing so. Whether it’s geographic location or appraising solar panels, make it clear up front what you are seeking from the lender immediately upon contract acceptance. In this case, a “Green Qualified” appraiser.
Even after telling the lender what I was seeking, the appraiser called anyway and was rejected. Use this specific phrase , “the appraiser must be competent to perform the assignment.” Competency is a clear concise phrase and there is no second guessing what that means!
If you’re looking to buy or sell a home with solar panels, please give me a call. It’s my duty to be your advisor, fiduciary, and provide accurate data for solar panels. Information provided by a home seller is required in order to relay full detail about solar panels to any potential buyer.