Appraiser Didn't Use More Recent Comp Favoring A Much Older Lower Sale

[Elliott]

"My home doesn't have a garage..."

Garages are a strong amenity in my market. Don't see a reason to change value. What did you do with the garage?

 

[glenn walker]

Based on the info provided $135,000 with no garage appears in the zone. Many folks don't wants a house without a garage especially if they drive a well maintained car or truck because there is too much weather damage and in my area auto theft, Garages also make nice places to store lawn requirement and other tools

 

[Marty Boone]

Do the 4 comparable sales in the report show seller assistance was a component of financing? Look near the top of the column of each comparable's sales or financing concessions. Does your agreement of sale include seller help $ for closing costs?

 

[Tom D]

Where does it say an appraiser can't do a comp. check? (Not that I do them) A comp. check is an appraisal. They can be done as long as they are in compliance with USPAP.

if you are saying a comp check is an appraisal then i agree with you, but why are you calling it a comp check then.
if you are not calling a "comp check" an appraisal then please refer to 2012-13 USPAP f92 - 201. i'm not a USPAP'er,. i find this area of "comp check", and our liability to refer to any comp, considered then to be an appraisal, to be part of a created stupidness rule by i know not who.

 

[Tom D]

Based on the info provided $135,000 with no garage appears in the zone. Many folks don't wants a house without a garage especially if they drive a well maintained car or truck because there is too much weather damage and in my area auto theft, Garages also make nice places to store lawn requirement and other tools

angry cat, you just did a review. i hope you have a workfile.

 

[ucbruin]

Hopefully an appraiser who's licensed and appraises in GA with be able to provide you with his/her feedback....

 

[RSW]

if you are saying a comp check is an appraisal then i agree with you, but why are you calling it a comp check then.
if you are not calling a "comp check" an appraisal then please refer to 2012-13 USPAP f92 - 201. i'm not a USPAP'er,. i find this area of "comp check", and our liability to refer to any comp, considered then to be an appraisal, to be part of a created stupidness rule by i know not who.

You can call it a comp. check, a pencil search, a soft search or what ever. The bottom line is it is an appraisal and it is allowed per USPAP.

Again, I don't do them.

 

[residentialguy]

you state you are not providing "an opinion", but you write "$135k seems reasonable". you just stated an opinion of value, that is an appraisal, that is why we are not allowed to do comp checks. any number besides the actual range of the neighborhood sales is considered an appraisal. i forgot which USPAP year book it has that in the advisory opinion section. i'm an expert at this comp check "theory" definition. you're excellent in your normal comments, this is a brain freeze. this is how dangerous & stupid our business has become.

Sorry Tom....I'm going to call "BS"....and say So????...My house would sell for ~350k. So???? You act like we can't give an opinion or the USPAP police will be called. There was no appaisal assignment here, so no, they won't be coming...no, he doesn't need a work file....and yes, it was legal.

 

[Tom D]

Sorry Tom....I'm going to call "BS"....and say So????...My house would sell for ~350k. So???? You act like we can't give an opinion or the USPAP police will be called. There was no appaisal assignment here, so no, they won't be coming...no, he doesn't need a work file....and yes, it was legal.

sorry too mr residentialguy. somehow, i started to channel a dead uspaper who was a perfectionist. i soo agree with you. just like to SHOUT some of the absurdities, i mean vague rules, that we can all be hung with if a board so decides. by the way, you do know you can't do a comp check for a loan officer without having a workfile. i bet you do. also, you were bragging about your house value to use, weren't you.

 

[George Hatch]

If someone asked you for an appraisal and you agreed to provide it then that's a client and an intended user and an appraisal assignment regardless of anything else.