Fraudulent Appraisers

[Dale Smalley]

You need to be sure that the appraisal is fraud and not just a difference of opinion by using a different set of data. Using different comps is no grounds for fraud.
There is no rush on real fraud take your time and get the facts right.

 

[Soar Ohio]

The bank had no right to give you a copy of the appraisal. The statement of limiting conditions limit the use, intended users and who they can give a copy to. Better make sure that you can not get in trouble for reviewing an appraisal that you had no right to have.

 

[Pamela Crowley (Florida)]

I consider that if I am handed a report, especially by the client of that appraisal report, if it's fraudulent or just plain a number hitting incompetently completed report, I will turn it in and take my chances with any potential confidentiality issues.

 

[Mike Garrett RAA]

I concur with your concurrence!

 

[Jeff Horton]

Originally posted by Tom Titus@Apr 28 2003, 09:28 AM
The bank had no right to give you a copy of the appraisal.

While I tend to agree with this comment....

The statement of limiting conditions limit the use, intended users and who they can give a copy to.

Does giving an appraiser a copy imply intended use? Does that make me an intended user just because I read the report?

 

[Larry Davis]

I appreciate all the comments. Of course I have decided to proceed. I actually have two other appraisals done by this appraisal that were given to me by the same lender. They appear to be fraudulent as well. It may take me two weeks because its busy and I want to make a convincing case. In Georgia, the appraiser doesn't alledge fraud, but files a notarized statement as a witness. The state is the procescutor and makes all final decisions whether is a simple mistake, negligence, gross negligence, or a criminal offense. Many times they will allow an appraiser to take a smaller offense, such as a one year suspension, if they do so without carrying it all the way to administrative court. As far as not having a right to have another guys appraisal. Well, it was sent to me. Now I have actual knowledge of many appraisals by the same appraiser that appear to be at least gross negligence. I think I have the right, as review appraisers don't get permission from the appraiser either. Remember, I'm just sending in the evidence, the state will make the decision. I will keep you posted. It may take two months or more for the process to come to hearing. I have decided to choose the right.