Reviewer said: "County’s Public Records" cannot be used as a verification source in the Prior Sale History....

[MMing5000]

Reviewer said "County’s Public Records" cannot be used as a verification source in the Prior Sale History because this is considered too generic and must be more specific.

Has anyone experienced a similar revision request??!

What would be a more descriptive or more specific term for "County’s Public Records"?

Or is there another more reliable source for prior transfer history that i am not aware of?

Is this reviewer trying to create job security for him/her self, or am i being biased in my opinion?

 

[Carnivore]

Public Records are the most reliable and official Government source of Transfer History. Other Government data pertaining to Real Property may not be very precise, i.e Gross Living area etc Some Transfers are not recorded. In my state if the transfer of real property ownership is not recorded then in many/most cases it can not be enforced in Court. This is because NC is a "Race State".

" North Carolina is a “pure race” jurisdiction, meaning that the person first in time to record a deed to, or a lien against, a parcel of real property generally has priority against all subsequent grantees or lien holders. "

Lien Priority in North Carolina

Lien Priority in North Carolina North Carolina is a “pure race” jurisdiction, meaning that the person first in time to record a deed to, or a lien against, a parcel of real property generally has priority against all subsequent grantees or lien holders. Thus, if a lender records its deed of...

hutchenslawfirm.com

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If your communicating with this Review Dude, ask him a simple question: Where do the Private Data Sources get their data to populate their own Data Base/information from?

Is the Review Dude creating Job Security. No! The Review Dude is only demonstrating how much of an idiot he is.

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Side Note: I just finished a Review this week where the Appraiser only reported 'Corelogic' as his data Source for Transfer History. Think about it a moment. Does Corelogic have ALL data on ALL Real Property Transfers? I know that they don't. Plus you always try and use multiple sources of Data and then reconcile the differences.
The question your answering is which one is the most reliable and Credible.

Recently I noticed that Corelogic has acquired Realist. They did this to add to their Data Base for Instant Evals. Problem is not all County GIS cross share info with Private Sources.

 

[J Grant]

Reviewer said "County’s Public Records" cannot be used as a verification source in the Prior Sale History because this is considered too generic and must be more specific.

Has anyone experienced a similar revision request??!

What would be a more descriptive or more specific term for "County’s Public Records"?

Or is there another more reliable source for prior transfer history that i am not aware of?

Is this reviewer trying to create job security for him/her self, or am i being biased in my opinion?

That "reviewer " is likely not an appraiser ... a staff person more likely - nit pick stuff but maybe their employer makes them do it with a checklist - cite " Charlotte County Public Records " (for example ) rather htn just "county public records " . Beyond that, no way to satisfy their request

 

[Mike Kennedy]

" Charlotte County Public Records - Deed recorded on 11/11/11, liber 1111 page 110 "

 

[Joyce Potts]

I think what they’re asking for is the exact OR book and page number. Overkill, if you ask me. I use IMAPP or realist. Every source line what I use pulls from one source and one source only—and that is the recorded documents in the tax rolls. I have yet to ever find a mistake but only go looking in detail unless the MLS and tax records differ. This method is a massively accepted practice used by the overwhelming number of appraisers that I know of.

 

[Carnivore]

Well its not overkill to report all transfers in a 36 month period Subject and 12 months Comps. Why? Simple, USPAP Says so.

Where the larger issue is when the transfers are private non-MLS. You make and effort to try and explain, but trust me, Private Transfer Peeps often hang up on you or get mad, question who you are and why you need to know their business. So you make and effort and state that effort. Its ll you can do! ITS ALL YOU CAN DO!

FTR: In Gaston County NC most Real Property transfers are not in MLS. When I say most I mean as much as 70% of the transfers. This varies month to month. How do i know this? Easy, We have a Retired CG(former Tax Dept. Chief Bottle Washer Supervisor) gets all the transfers every month and provides this as a service to any Appraiser who wants to subscribe to his service. The Local CG's Love this service because it is such a time saver for them doing commercial work.

I have used Private Sale non-MLS as Comps. Its rare but I have done it. It takes some leg work, but it can make a big difference in your report results.

 

[DWiley]

What would be a more descriptive or more specific term for "County’s Public Records"?

Which public records? Tax rolls? Map/parcel#? Reg of Deeds? Book and page? Those types of things would be more specific.

A decade ago when I was teaching the UAD class there was a section that said the "public records" was too generic, and a more specific response should be provided. Perhaps the reviewer attended such a class.

 

[Carnivore]

Seems redundant to actually State the County Name i.e Mecklenburg GIS; Mecklenburg Registrar of Deeds when the Subjects County Mecklenburg is already stated in the Report at the top of Page one of the URAR Report. Eventually you run out of room.

If this keeps up, Then the only Answer is to Place your Legal length Addendum Pages at the Front of the Report So they don't miss it. OR be Mean about it and Bury that addendum .....

BUT I do agree completely that "Public Records" is not adequate and frankly amateurish. I see this too often in Review work that I have been completing, Especially this month.

 

[TJSum]

I usually put in the actual Tax ID parcel number, could be all they are asking for instead of just a boiler plate response.

 

[CANative]

If the reviewer's beef is that you entered the data source as "County Public Records" then I agree with the reviewer. Use (name) a specific source such as "CoreLogic/Realist" or "NDC" or whatever data aggregator is available to you. Few appraisers visit the sticks and bricks recorders office to pour through the actual recordings for all of their subjects and all of their comps. It would require double or triple the fees we charge and back up the entire system.