Mary Tiernan
Senior Member
- Joined
- Dec 16, 2003
- Professional Status
- Retired Appraiser
- State
- Michigan
Completed report in April - owner's name in public records (Equalization) was XX Bank due to title errors (borrower had purchased property 8 months prior, however, the title company had utilized the wrong legal description and Equalization would not process the deed). FYI -- new title company just compounded the error and utilized incorrect legal description argh.
So, after a bunch of back and forth, an Affidavit of Scrivner's Error has been filed at the Register of Deeds office, and the property now has correct owner name, as of 05/27/2008, with correct legal description. Equalization has confirmed they will change owner name from XX Bank to borrower's name effective 5/27/2008.
Of course, client wants original report corrected, which I cannot do as the owner name was XX Bank as of the date of appraisal - right?
I would like to offer my client a solution, and my first thought is to remove signature on original report, put SEE ATTACHED under owner's name, and add more commentary on progress of owner name issue, and that it has been resolved. More or less an addendum to appraisal. (I typically do this with underwriter stips, state original report signed and sent to client on this date, detail modifications to report, then resign and resend, indicating no other changes made.)
I did not make the report subject to, just reported owner's name and reason owner's name had not been changed - reported the facts and let them deal with it - FYI - they didn't - I had to hold their hand and show them the error of their ways.
Or, can I provide a 1004D with the same commentary and state original report was completed as is and then explain what happened . . . owner name is now corrected at the county?
Or, is there another solution?
So, after a bunch of back and forth, an Affidavit of Scrivner's Error has been filed at the Register of Deeds office, and the property now has correct owner name, as of 05/27/2008, with correct legal description. Equalization has confirmed they will change owner name from XX Bank to borrower's name effective 5/27/2008.
Of course, client wants original report corrected, which I cannot do as the owner name was XX Bank as of the date of appraisal - right?
I would like to offer my client a solution, and my first thought is to remove signature on original report, put SEE ATTACHED under owner's name, and add more commentary on progress of owner name issue, and that it has been resolved. More or less an addendum to appraisal. (I typically do this with underwriter stips, state original report signed and sent to client on this date, detail modifications to report, then resign and resend, indicating no other changes made.)
I did not make the report subject to, just reported owner's name and reason owner's name had not been changed - reported the facts and let them deal with it - FYI - they didn't - I had to hold their hand and show them the error of their ways.
Or, can I provide a 1004D with the same commentary and state original report was completed as is and then explain what happened . . . owner name is now corrected at the county?
Or, is there another solution?
Last edited: