Appraiser Communicated Appraised Value to Seller

[Alison Swain]

A lot of you have read my thread over the past couple days about the small lake/;ski lake deal. For those of you who haven't, FYI: there were 3 appraisals total --- mine at $395K; a second at $422 and a 3rd at $457k.

The thrid appraisal was done after the Seller initiated the appraisal when mine came in $45K under sales price. Somewhere along the way, the Seller asked the Buyer's lender/MB if he would accept this 3rd appraisal. He said sure, as long as I'm named as th Client. He was named as Client/Lender on the 3rd appraisal report.

I won't go in to all the deficiencies with the actual report, but this third appraiser commuicated her report not only to the MB but also to the Seller without the MB's permission. I pointed out the very serious USPAP violation (Ethics/Confidentiality) and Buyer's agent told the Buyer that the appraiser didn't violate anything --- the Seller paid for the 3rd appraisal so she was entitled to a copy. m2:

Now the Seller is using that totally bogus POS report as her negotiating base.


Would you just leave this alone or drop a dime?



.

 

[Wendy]

If I were you, I would not send in the third report for violations. The way I see it there is no way for you to be considered totally unbiased as you have a dog in the race so-to-speak.

Also, maintaining confidentiality could get sticky.

 

[Mike Kennedy]

You were hired to appraise the property. You did. You're done. (send Pam Crowley the address).

 

[Diego Lopez]

You did your appraisal, your job is done, never mind what another appraiser did or did not do. Make sure get paid and move on.

 

[Alison Swain]

I don't really have a dog in the fight other than my ego! :blush:


Yeah, I've slept on it and decided to let it go. In all fairness to the third appraiser, she really had no idea what she was walking into. And unless you're one of us who posts or lurks here everyday, you may be a little rusty on your USPAP when a seller drags you into a scanario like this one.

 

[Lee Lansford]

...Now the Seller is using that totally bogus POS report as her negotiating base.


Would you just leave this alone or drop a dime?

.

If I concluded that there were serious violations of the USPAP and applicable local license law, then, yes, I would forward the report of the appraisal on to the regulatory agency.

 

[Elliott]

Allison said, I don't really have a dog in the fight other than my ego.

Your the low 'dog' on the totem pole. Defend your value when asked to,
but don't put your nose in the fight. Its okay to sniff butts, but growling
isn't acceptable. When everything goes wrong in the future, someone
might pat you on the head, say, "good girl" and maybe give you a treat.

 

[Wendy]

I don't get paid enough to sniff butts.

 

[Don Clark]

If I concluded that there were serious violations of the USPAP and applicable local license law, then, yes, I would forward the report of the appraisal on to the regulatory agency.

That's the way I see it too Lee. If I have possession of any report that challenges a report I have done, or is in some way in violation of state regulations or USPAP, do I not have a duty to report that? On the other hand, if I believe that the only reason to report another person is to bolster what i have done or shore up my position, that would not be a reason to report someone.

 

[Joker]

Isn't an appraiser being a little rusty on USPAP similar to a CPA being a little rusty in the tax code?

Turn em and burn em.

Since when do you have to be unbiased to turn someone into the state?