Here is a copy of what I'm writing in a Review: • One-Unit Residential Appraisal Field Review Report: 1- Prior Sales and/or listings of subject and sales used as comparables in Original Appraisal Report being Reviewed: No prior sales or MLS data of any kind found for subject. It appears the Appraiser did not have access to or utilized MLS data. The sales used as comparables have data in the local NEFAR MLS that is not used in the Appraisal Report. Prior transfer of Sale #1 was a builder purchase of an older house on a double lot that was split (*** Xxxxxxx Ave, Co ID #####), a new house was built on part of that parcel and sold with a new address (*** Xxxx St., Deed recorded in Clay Co OR ###/###). No other relevant prior transfers of this property were found since 1995. Prior transfer of Sale #2 was a builder purchase of multiple lots with an older house on them (OR ###/###) - there is an additional prior transfer on 12/01/2003 using a Quit Claim Deed that was between relatives. Next newest prior transfer was 1989, again a Quit Claim Deed between relatives. There are no prior transfers within one year found for Sale #3. Latest prior sale was 12/2000 when it was sold as new construction for $83,500. 2- Accuracy of data in Original Appraisal Report being Reviewed: NEFAR MLS data was/is available for all sales used as comparables, but does not match the data in the Appraisal Report as the public records data has not yet been updated with the correct information. Win2Data is a compilation by a second party of the County Tax Records and is not truly considered a second source of information for real estate properties and/or transactions. If only the County Tax and Recordings Records and Win2Data (or any other second party source of public records) is used, there is no true second source of verification. MLS data in this market area is considered necessary to competently complete a residential appraisal and serves as a second source of property and sale data outside of contacting either the seller or the buyer of a property to be used as a comparable sale. As the majority of the sales in this market area are handled by a Realtor, MLS data, along with being able to call any Realtors involved in any of these deals, is typically considered a necessary part of the due diligence required to produce a competent residential appraisal and report that is not misleading. Sale #1: MLS Listing ####: Listed for $90,900 on 01/01/2004 by **** ***** of XXXX, ####. Shows a sale pending the same day, 01/01/2004, listing data shows a proposed construction new house that was finished and closed on 05/11/2004 for $90,900 with an 80% Conventional 1st mortgage. MLS data shows this newly built house as frame construction with vinyl siding, 1,238 GLA, 5 Rooms, 3 Bedrooms, 2 Bathrooms, 2 car attached garage. The site is 67' x 100' and was split off from the larger parcel that included an older small house that fronts on ### Xxxxx Ave. See Clay Co. Deed, OR ###/###. Prior sale of this property, Clay Co. PID ###, was 10/13/03 for $45,000; buyer was a local builder that split this parcel and built a new house now addressed as #### Xxxxxx St and left the older house on a now smaller lot at ### Xxxxx Ave. Sale #2: MLS Listing ###: Listed for $99,000 on 10/01/2003 by XXX of XXX, ### Shows a sale pending on 01/04/2004, listing data shows a proposed construction new house that was finished and closed on 05/27/2004 for $90,000 with a 92.4% "Rural Housing" 1st mortgage and a $10,000 "SHIP" 2nd mortgage. MLS data shows this newly built house as frame construction, 1,369 GLA, 6 Rooms, 4 Bedrooms, 2 Bathrooms, 2 car attached garage; site is 52.75' x 132' = 7,623 SF. See Clay Co. Deed, OR ###/###. A builder split this parcel from a prior purchase of multiple lots that included an older house that was not part of this sale of this new house. Original parcel Clay Co. PID ###. Sale #3: MLS Listing ###: Listed for $99,999 on 03/30/2004 by XXXX of XXX, ###. Shows a sale pending on 05/20/2004, closed on 05/28/2004 for $104,000 with an 80% Conventional 1st and a 20% Conventional 2nd mortgage. MLS data shows this house as frame construction, 1,329 GLA, 5 Rooms, 3 Bedrooms, 2 Bathrooms, 2 car attached garage. There are very likely seller concessions that would need to be addressed due to the difference in the listed price to the selling price. Since there are sales in the City of XXX that would be much more representative of the subject in age, size and amenities, it is the Review Appraiser's Opinion that none of the sales used as comparables in the Appraisal Report being reviewed are appropriate. The information regarding sales #1 and #2 is almost all incorrect which appears to be due to not using local MLS data and not verifying the information. When driving by to take a picture of these properties, it is readily obvious that sales #1 and #2 are not 54 year old structures and are far superior to the subject. The original Appraisal Report appears to have enough errors to be considered misleading and in violation of multiple USPAP Standards and Ethics Rules. The Review Appraiser strongly suggests the Client send a copy of the Original Appraisal Report and this Review Appraisal Report to the State of Florida Real Estate Appraisal Board for further review. Subject is a 27 yr old house of 1056 GLA!!! IMO, if MLS is used for the majority of the residential sales in a market area, it is necessary to belong to the MLS system for the area you are appraising in. Since the name of the original appraiser is blacked out, I don't know where that appraiser is actually from geographically. My guess is that this is a Certified Appraiser that sent a trainee out do this appraisal in an area where neither that Certified nor the trainee belongs. It's beyond my imagination that any Certified Appraiser, and there was only 1 signature on the report with no mention of anyone else, would do an appraisal like this one. This is a prime example of why NOT to appraise outside of your geographical area without taking the time to do ALL of the due diligence necessary to MAKE yourself geographically competent - and that would include talking to the local Realtors. I will be trying to find out if the client does send this in to the FREAB. If they don't want to, I will. It will be a little more difficult for the investigator to find out who the original appraiser is, but they can.