Disclosing Info To Fellow Appraisers

[Terrel L. Shields]

I am not worried about what other appraisers think of my work. I've never met an appraiser not willing to criticize their competition anyway. I know I helped a person keep her license by correcting errors on her report to resubmit to the state only to find out later she was complaining to other appraisers that I "took away" her business from a local bank. That bank "took away" her business because the state came and asked for a copy of the original report in their investigation. I had nothing to do with it. A couple or three years later she lost her license for good.

 

[DWiley]

If you indicate to the other appraiser your OMV was below the SC price but not give him exact number of your OMV, that might be a good way of handling it.

That would also be disclosing assignment results. See the definition of APPRAISAL and the language about a reference to benchmark.

 

[Michael Martin]

I am not overly concerned what others think either, to a point. I guess I have a problem when people make false assumptions and/or jump to conclusions.

 

[Michael Martin]

That would also be disclosing assignment results. See the definition of APPRAISAL and the language about a reference to benchmark.

Agree by the letter of the law I am aware of disclosure issues. I wonder if the ASB had this question posed to them how they would respond or a state board. Would one really be crucified if for some reason all the facts were brought before them and one simply revealed the value did not come in at zzz,zzz?

 

[DWiley]

Agree by the letter of the law I am aware of disclosure issues. I wonder if the ASB had this question posed to them how they would respond or a state board.

It is easy enough to find the answer to that question. Just email them and ask.

 

[J Grant]

D Wiley has a good point, so safer to stay silent about your value compared to the Price.

 

[LordofTexas]

The value I came in at means virtually nothing. Even if I was to use this as a comp in the future, I would rethink any adjustments or weight I might put on it based on this thread.

This leads to another topic but, have any of you used YOUR closed/proven high-sale as a Comp after it closed?

 

[LordofTexas]

Doesn't including the appraisers name imply revelation of assignment results that are supposed to be confidential?

"Appraiser: " is a standard field on every MLS listing sheet I've seen from California to Texas. Who was the appraiser...? Tim Burr from Woodland Cutter Appraisals. The MLS doesn't indicate a value it came in at, only what it listed and sold for. Same as saying; "Who was the agent..? Ima Cheatem from Flim Flam Brokers R'Us.

But, I do have to say; only 1/2 a percent of agents actually ever put an appraiser's name in there. The fewer fields they have to put in, the better in their eyes. Also, I asked several of my Realtor friends that I do house measures for to report the true SQ FT in their listing about that and all have said, they just prefer to leave it blank. Yet for the source of the size, they put "Appraiser". It falls on the old adage of don't disclose anything that can possibly get you into litigation.

 

[ucbruin]

This leads to another topic but, have any of you used YOUR closed/proven high-sale as a Comp after it closed?

Good question.

I would employ it in my report if it were a current sale.

 

[Noreen]

This leads to another topic but, have any of you used YOUR closed/proven high-sale as a Comp after it closed?

Yes, but once it has closed, you are reporting the deed recorded transfer price... period and accurate data of the information on the home's characteristics and GLA. We ( MA & NH) are disclosure states.