LandSafe, Bank of America's wholly owned appraisal service, under-appraised a condominium unit that I intend to buy and incredibly would not consider the most recent documented sale of an identical unit that sold for $33,000 higher than the Landsafe appraisal. They pretend to allow a reconsideration using "recent sales from the subject immediate competitive neighborhood", "similarity of lot size/value; similarity in construction age / quality and living area size, but declared that the new information could not have been known by their original appraiser, so the original appraisal is valid. How convenient is that for the Bank of America?
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