- Joined
- Feb 21, 2002
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
Briefly, I recently appraised a property which was listed for sale at $185,000. The contract had been signed for $170,000 then re-adjusted to $185,000.
I had two comps in the same subdivision, one being directly across the street, the other being two houses up and on the same side of the street. Both comps were slightly newer, slightly (around 80 s.f.) larger, had slightly larger lots AND were on full basements (subject=crawl space). These comps both sold for less than $182,000 during the previous month.
My third comp was four miles away (typical) and was on a slab.
I arrived at $178,000.
Now, I am being accused of not taking the subject's "wonderful" views into consideration (but, what about the next door neighbor?), the subject's "awesome" landscaping and so on.
My boss (I am certified residential working for another certified) has discussed these issues with both the lender and the real estate agent (acting as a dual agent, by the way) and my boss has also arrived at my conclusion.
We received a phone call Friday from the real estate office and here was the jist of the call:
"The homeowner doesn't think the appraiser was at the home long enough to even measure the exterior, do you think he did?"
Thankfully, my boss defended me once again and assured the agent that I did indeed measure the home.
My question:
Are there ANY laws that you can think of off-hand that the real estate agent(s)/firm have broken, or at the very least bent?
This whole ordeal has really ticked me off! You do your job - and back it up with reliable data - only to be told that since it didn't make the number, you clearly don't know what you're doing!
Thanks in advance.
Ken
I had two comps in the same subdivision, one being directly across the street, the other being two houses up and on the same side of the street. Both comps were slightly newer, slightly (around 80 s.f.) larger, had slightly larger lots AND were on full basements (subject=crawl space). These comps both sold for less than $182,000 during the previous month.
My third comp was four miles away (typical) and was on a slab.
I arrived at $178,000.
Now, I am being accused of not taking the subject's "wonderful" views into consideration (but, what about the next door neighbor?), the subject's "awesome" landscaping and so on.
My boss (I am certified residential working for another certified) has discussed these issues with both the lender and the real estate agent (acting as a dual agent, by the way) and my boss has also arrived at my conclusion.
We received a phone call Friday from the real estate office and here was the jist of the call:
"The homeowner doesn't think the appraiser was at the home long enough to even measure the exterior, do you think he did?"
Thankfully, my boss defended me once again and assured the agent that I did indeed measure the home.
My question:
Are there ANY laws that you can think of off-hand that the real estate agent(s)/firm have broken, or at the very least bent?
This whole ordeal has really ticked me off! You do your job - and back it up with reliable data - only to be told that since it didn't make the number, you clearly don't know what you're doing!
Thanks in advance.
Ken