- Feb 12, 2002
- Professional Status
- Certified Residential Appraiser
- New Jersey
An appraiser friend of mine who is not a member of this forum found out he was placed on a "Do Not Use" list by a larger purchaser of mortgages. He called to inquire and they said that on a driveby report he did that was reviewed he did not properly identify the property or the comps as being a "condotel". This was a Jersey shore hotel converted to condo's - extremely common. I know that these lenders can do what they want and maybe that is not the real reason, but is that a real term?