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3 Year History Antics

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Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
O.K. Today was the third time it happened in 3 weeks.....Subject sold twice within the past 3 years.....Went to my data service and printed out the transaction history and scanned it into my report with a note to "see attached" blah blah blah.

Wouldn't you know it.....Underwriter condition "need 3 year history statement"........

I'm tellin' ya, they just don't read the reports anymore.... :angry:
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
If you don't fit it on the form, they will never find it. They scan. They don't read. Addendums are needless fluff according to them. If you have any extra addendums, it better be important info and you better have arrows pointing to it all through the report.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Can you say "anal"? Find a way to fit it in the three lines provided on the URAR.
 

Fred

Elite Member
Joined
Jan 15, 2002
Professional Status
Retired Appraiser
State
Virgin Islands
So maybe it's time to start putting SF, Rm Ct, condition an other amenities in the addenda. No sense in feeding the AVM companies.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
I get the same thing from a lender client who is an extremely anal.
They want it to say 3 years or 36 months. :blink: :rolleyes: :lol:
So I put it all in the smallest mice type that the software will allow. :p
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
When I get those I love stating it the most sarcastic manner possible something to effect of "If you had read the report you would have found this information on page 4"
 

Wally Jones

Senior Member
Joined
Jan 23, 2002
Professional Status
Certified Residential Appraiser
State
Florida
I think I shall start just sending the addendums and wait for them to call for the URAR................. :mrgreen:
 

Francois K. Gregoire

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Hi All,

After about a half dozen requests for the three year sales history of the subject property (although it was already in the appraisal report), a separate section has been added to the ADDENDUM of each report:

THREE YEAR SALES AND LISTING HISTORY OF THE SUBJECT PROPERTY:

Please note the subject property was purchased by the present owner Month, Day, Year. The purchase price at that time was $zzz,zzz. The deed is recorded in OR Book XXXXX, Page XXXX.

According to an examination of the Pinellas Suncoast Multiple Listing Service, the subject property is currently listed for sale at $zzz,zzz. It is under contract to purchase at $zzz,zzz, subject to financing. Subject property has been on the market for XX days prior to this pending sale. The subject property has not been previously listed for sale within the period for which they retain records.

Under Standards Rule 1-5 of the 2003 Uniform Standards of Professional Appraisal Practice, an analysis of all agreements of sale, options or listings of the subject property current as of the effective date of the appraisal and an analysis of all sales of the subject property that occurred within the three years prior to the effective date of the appraisal is required.The Certification made in Paragraph 7 of Fannie Mae Form 1004B (6-93) assures the appraisal was completed in conformance with the Uniform Standards of Professional Appraisal Practice that were in place as of the effective date of the appraisal.

-------------------------------
Phone calls and requests for additional information have ceased......

Something similar may work for you all.

Frank
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Frank,

with all due respect, isn't that over kill? Who has time to do all that?

on the three lines in the URAR for prior sale

$150,000
07/01/2001
Public Record

or

None, Past 3 yrs
N/A
Assessor's Card

Right below that on the line marked "Analysis of any current agree of sale, listing, etc" I include information on the contract, listing, or lack there of and the following "I have researched public records and MLS and have found the above listed sale which occured in the preceding three years" or "and have found no sales in the preceding three years".
 
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