1. Welcome to AppraisersForum.com, the premiere online community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Comp-value Check

Discussion in 'General Appraisal Discussion' started by Will43, Sep 13, 2004.

Thread Status:
Not open for further replies.
  1. Will43

    Will43 Senior Member

    0
    Aug 13, 2003
    Professional Status:
    Licensed Appraiser
    State:
    Ohio
    I received a comp check from American Elite Financial 925 N. State Street Suite P Westerville, Ohio 43082.

    This was at the bottom of the form:

    *Appraiser Section

    Estimated Value_____________________Date_____________

    Appraiser Company___________________________________

    Appraiser Name (Printed)______________________________

    Appraiser Signature___________________________________

    Additional Comments__________________________________

    I wonder how many appraisers received this fax?

    The highest bid wins! This is despicable.
     
  2. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    3
    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    State:
    Florida
    OK lender regulators, where are you???
     
  3. larryhaskell

    larryhaskell Senior Member

    0
    Apr 23, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Nevada
    Did they include a check? :D
     
  4. leelansford

    leelansford Elite Member

    15
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    FYI: Any licensed appraiser who completes and then communicates that form as it is and by itself, has
    (a) completed an appraisal
    AND
    (B) violated the USPAP.
    --Lee Lansford, IFA
     
  5. Joker

    Joker Elite Member

    0
    May 28, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Ohio
    I have gotten several with the same thing at the bottom. I use to round file them. Now I keep them in a special file. I would bet that you and I have received some from the same companies.

    Please keep these faxes will and join me in sending them in as a group to Ohio's attorney general. I have already been in contact with ODOC about this.
     
  6. Dee Dee

    Dee Dee Elite Member

    1
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    I can just see it now.....

    Lender sends out a dozen requests like this and only keep the ones that come back signed in the value range that they need. Assignment goes to whoever is cheapest and/or highest value.

    Fast forward: Homeowner defaults and lender starts asking LO questions. LO whips out 7 signed comp searches from different appraisers and says, "but look! I had 7 appraisers that all signed agreements that the value was there!"

    "Cool!", says state board, DA, federal investigators and defrauded lenders, "Let's go get their files!"
     
  7. Mister Ed

    Mister Ed Senior Member

    0
    Jan 24, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Georgia
    If you fill that out in Florida, dont forget to add you license designation and number. If I learned properly in my Fla Law required CE this weekend, that would be $300 fine for not putting the number and $300 for not putting the license and up to 90 days suspension for each offense.

    Oh yeah... put together a proper workfile or there can be other fines/suspension penalties $1000 and up to 5 years suspension.

    Pamela, you know this better than me... did i learn anything? :rolleyes:

    Anything that could carry this kind of liability for free.... NO WAY IN H*LL!!!!!! :angry:
     
  8. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    3
    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    State:
    Florida
  9. Jim Onderisin

    Jim Onderisin Senior Member

    4
    Sep 15, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Wow! Will, what KIND of companies DO you keep company with? Dang! Steer me clear of those, Lord.
     
  10. Eric Bishard

    Eric Bishard Junior Member

    0
    Jun 9, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
Thread Status:
Not open for further replies.

Share This Page