Did inspect

[TN Pro]

was doing my first review in quite a while this week. Ended up spending a ton of time on it and even though i charged a decent fee, probably ended up loosing money.
Anyway when i was taking the subject pics, the owner comes running out as i guess he wants to know whats up.
I just tell him its appraisal related, but dont tell him too much. He then starts talking about the appraiser, saying the appraiser took pictures already, the appraiser inspected my home, the appraiser went in the basement.......
I ask, dont you mean appraisers, in the plural sense, he says nope, there was only one.
Interesting, report is done by a trainee, and the supervisor signed as did inspect the exterior and interior of the home. I had already found a large amount of errors in the report, including distances (comp 1 stated as 2.5 miles, actually 8 miles) also DOM wasnt noted for the comps, three of the 4 comps have almost one year on the market, yet marketing time is listed as 90-180 days. My value was around 20k less than the original.
We all know this goes on, but this is the first time i actually have concrete evidence.
Made an online complaint to the state, we will see what happens.
Would you all have done the same, or handled it differently.

 

[Pamela Crowley (Florida)]

Thank you for caring enough to make the complaint!

 

[Dee Dee]

It's people like that who put honest, hardworking appraisers out of business.

Burn 'em!

 

[Mike Kennedy]

"Would you all have done the same"



Yes. Thanks for making your complaint.

 

[Tim Hicks (Texas)]

Make sure you state the owner told you so in the report. I don't use the word "loosing" (the word is "losing") anywhere in the report, either.

 

[Kevin Mc]

Interesting, report is done by a trainee, and the supervisor signed as did inspect the exterior and interior of the home. We all know this goes on, but this is the first time i actually have concrete evidence.
Made an online complaint to the state, we will see what happens.
Would you all have done the same, or handled it differently.

It is my biggest bone of contention. There is a reason folks are accepting $175 URAR fees, because they are doing exactly what these cretins are doing. Trainees will work cheap. It goes on daily in my market and it is committed by folks who one would think were above reproach (ie. Mais and well seasoned,repsected vets) Most certainly you should turn them in but if your state is like most, vitually nothing will come of it. Thanks Dean.

 

[realbiz]

I know of a case a few years back where 20 homes were inspected by the supervising appraiser in one day per signed appraisals. He did get caught, but it was due to the efforts of a review appraiser who saw many of these bad reports. Keep up the good work.

 

[RSW]

Dean, you are my hero!

 

[TN Pro]

Thanks for the replies, wow, so many non Tennesseans!
I guess i should have clarified. The complaint was a no brainer, thats not really what i was asking.
I mean, if you cant make a complaint when you have concrete evidence, then when can you?
I was talking more about clarifying with the borrower over who inspected the home. I just saw an opportunity to ask the borrower while it was still fresh in their mind, the original report was only 6 days ago.
Do you consider when reviewing a report signed off by a trainee, and the super as did inspect that you should try to find out if they did both indeed visit the house.
I also understand that we are reviewing the appraisal and not the appraiser, but surely the answer to the questions lend to the credabillity of the report.
To further the story, the original supervisor caught wind of this, im not sure how (he is not a poster on this forum, maybe he's a lurker) and sheepishly called me stating that now when he thinks about it, he recalls that he just stayed in the car on this one.....
Thats not really my problem anymore, the complaint is made, the review is delivered.

 

[RSW]

Doesn't matter if he just stayed in the car or not. He didn't inspect the interior of the subject property. When I had a trainee, I would go up to the house and introduce myself and my trainee and tell them what we were there for.