David A. Babros was the FHA appraiser assigned by the appraisal management company to appraise a property in Los Angeles, California 2 months ago in August. That escrow fell apart because the buyer did not qualify, but this appraiser "David A. Babros" was still paid in full for his services. Once a new buyer was procured, the buyer had the right to choose their own lender. However, because it was also an FHA government loan the same appraiser is and will be assigned. All parties requested that this appraiser update his 60-day old appraisal with the new buyer & lender (a 5 minute fix), but he refused. David Babros being the unprofessional and unfair business owner said that he will not; forcing the buyer to pay an additional $500 and start new again. David A. Babros will then charge a 2nd $500 to supposedly do a "new" appraisal - that is NOT new. He will just update the already existing appraisal and scam the buyers out of an additional $500. He hides behind his secretary and doesn't show his face or answer his calls to explain why he has taken this negative position.in the end he is only hurting the buyers financially by charging an unwarranted new appraisal fee ($500) when it's 100% normal to just change the new lender's name on the existing appraisal. The buyers are also being hurt financially because they will have to resubmit their loan and will not get the amazing rate they had already locked-in (having to pay more for their monthly mortgage). 95% of appraisers would have charged a fair & nominal fee of $0/free to $75 to make the 5 minute change (for their time). It is not uncommon request or out of the norm business request.
Weeks later, David A. Babros made a phone call to strike a deal. He said he would only correct the mistakes he made on the first appraisal (which he was already paid $501 for and it was his mistake — of erroneously switching seller and buyer names), but that we had to give him $250 "under the table!" He would not give us a receipt, or put it on paper because he knew this was absolutley ILLEGAL!!! We paid him - knowing it was illegal to do so - because we had invested too much into this escrow already.
I would never recommend this appraiser to anyone. There are so many true professionals in this difficult market who are willing to help you for a fair price and put out a good product.
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