Appraiser Must Provide Specific Source. Avoid "Public Records....

[ZZGAMAZZ]

Not only do I check deeds, I run a brief chain of title to cover five years. It literally takes less than 5 minutes.

How do you do that? Access to a Title company database? Prob a dumb question but I've never seen a deed in any of the 3000+ assignments, and maybe 2 dozen prelims during 20 years.

 

[ZZGAMAZZ]

Doc numbers are to verify comps actually closed.
I can almost 99.99% of all my comps I used from MLS (must be at least 10,000 closed sales) have been closed and no fake sale.
Thus not really necessary to get Doc number.

Hmmmm. Interesting perspective. Sample size of 10,000 might warrant that assumption--although how does one know that MLS is accurate without confirming the info????

 

[Fernando]

Hmmmm. Interesting perspective. Sample size of 10,000 might warrant that assumption--although how does one know that MLS is accurate without confirming the info????

Again from my experience, agents would not put wrong sales date in MLS. The agent may be too busy to immediately input into MLS but the closing date generally very accurate.

 

[Carnivore]

Well hold onto your seatbelts it is getting worse than we could imagine, What I posted in this is not directly related to the topic, I did not want to start another topic this one is close enough. bare with me.

Your talking about Sources, for your appraisals.

So by now most of you probably have heard about over the road Truck Driver that requires a CDL . The CDL's dont have the persons name. Thats right its blank. California is blaming the Feds. again bear with me.

OK so lets assume you have received a desktop bifurcated assignment You received a Property Data Report. I have not completed one of those appraisal assignments. I never will because I am retired. I have ask is there a name and phone number on that PDR. I never got an answer from anyone. Well here is the major problem. Read the below.

FTR this happened under Biden watch not Trump

So we all know how to cross check sources and that's cool So I don't think its a big deal for the pro's here .

“No Name” Licenses, No Accountability: From Highways to Housing - Appraisers Blogs

Hybrid appraisals rely on no-name data collectors, leaving appraisers liable when borrowers get shorted on value.

appraisersblogs.com

 

[alebrewer]

$10 to just view it or if you want a copy? There are some counties I use that charge you only to print it not to view it.

I think ya missed the point, Tom. The sales price recorded on the deed is "$10 plus OVC." We don't record sales prices in Texas. Texas is a non-disclosure state. Unless you have the CD or the HUD1, the only source to verify the sales price is MLS.

 

[Fernando]

I think ya missed the point, Tom. The sales price recorded on the deed is "$10 plus OVC." We don't record sales prices in Texas. Texas is a non-disclosure state. Unless you have the CD or the HUD1, the only source to verify the sales price is MLS.

That doesn't make sense. How would the public be able to check recorded sales prices unless they have MLS.
So glad CA has full disclosure.
Like full disclosure if appraiser has self interest on subject appraisal.

 

[alebrewer]

That doesn't make sense. How would the public be able to check recorded sales prices unless they have MLS.
So glad CA has full disclosure.
Like full disclosure if appraiser has self interest on subject appraisal.

I'm sure that's not the first time something hasn't made sense to ya, Fern.

 

[Carnivore]

NC has what's called deed stamps. You can get pretty close with them. I forget how its done . But there is a crack in that because of crooked attorneys

 

[Fernando]

I'm sure that's not the first time something hasn't made sense to ya, Fern.

Lot of things don't make sense. Don't get me started.

 

[alebrewer]

Lot of things don't make sense. Don't get me started.

I'd rather not...