Bill Plunkett
Freshman Member
- Joined
- Aug 29, 2002
I made a vow three years ago not to let ANY bad appraisal (Defined as 25% over valued, made up comps, total fabricated amenities, etc. )go by without bringing it to the state board's attention. I tell the client in block 12 how and who they need to contact at the state to file a complaint if a review. If a situation like yours arises "we have an appraisal for zzz more than yours.) I always ask for a copy "To assist me in reevaluating our appraisal".
Why. Because it is absolutely MORALLY unthinkable how some of the reports we see are completed. I have no problem sleeping at night.
Nine appraisers turned in this year a total of 17 reports. Highlights:
Manufactured home appraised as modular all site built comparables- $50 swing in value! Homeowner had no idea Owner taking lender, appraiser, and sales person to court. Board fined appraiser $1,000 and no manufactured homes 24 months.
Home sever water damage (Stucco) engineer report $175,000 structural repairs needed. Sold at aution $200K-- Two Weeks later JERK appraised for $475,000 not mentioning previous sale or any deffered maintenance.
Lost license
Home appraised for $40K more than any previous sale in 15 year old S/D of 100+/- homes-- Went out of developement for all comps--All ages of comps doubled in report.. Ignored 29 sales last 12 months in developement- all MLS-TWO ACROSS STREET-ONE SAME FLOOR PLAN!!! Action pending.
Land home comparables used as only comparable properties in manufactured reports ignoring arms length sales same S/D 4 reports--Total fines $2,500- No manufactured home assignments two years, signed letter will give up license if found in violation.
etc, etc...
You and I can not compete with these type appraisers. Unethical appraisers can ruin this profession.
By choice this office of five complete approximately 300 reviews a year now.
Benefits!! Satisfaction, good standing with Board, Clients that respect our work and us. Yes, any report can be found lackin if one looks hard enough We don't do that. We applaude good work and state it when we see it.
That's our tune!!
Bill
Why. Because it is absolutely MORALLY unthinkable how some of the reports we see are completed. I have no problem sleeping at night.
Nine appraisers turned in this year a total of 17 reports. Highlights:
Manufactured home appraised as modular all site built comparables- $50 swing in value! Homeowner had no idea Owner taking lender, appraiser, and sales person to court. Board fined appraiser $1,000 and no manufactured homes 24 months.
Home sever water damage (Stucco) engineer report $175,000 structural repairs needed. Sold at aution $200K-- Two Weeks later JERK appraised for $475,000 not mentioning previous sale or any deffered maintenance.
Lost license
Home appraised for $40K more than any previous sale in 15 year old S/D of 100+/- homes-- Went out of developement for all comps--All ages of comps doubled in report.. Ignored 29 sales last 12 months in developement- all MLS-TWO ACROSS STREET-ONE SAME FLOOR PLAN!!! Action pending.
Land home comparables used as only comparable properties in manufactured reports ignoring arms length sales same S/D 4 reports--Total fines $2,500- No manufactured home assignments two years, signed letter will give up license if found in violation.
etc, etc...
You and I can not compete with these type appraisers. Unethical appraisers can ruin this profession.
By choice this office of five complete approximately 300 reviews a year now.
Benefits!! Satisfaction, good standing with Board, Clients that respect our work and us. Yes, any report can be found lackin if one looks hard enough We don't do that. We applaude good work and state it when we see it.
That's our tune!!
Bill