Guess I need to turn this one in!

[Lee Lansford]

Maybe he doesn't understand that those were foreclosure actions. Maybe you should try contacting him?

Why?

Look at it this way: If the surgeon who operates on you removes your liver instead of a kidney, you're dead whether the doctor did it (a) on purpose, (b) by accident, or (c) due to incompetence. Awareness of the reason behind the action is important only at the time sanctions are imposed.

 

[Lloyd Bonafide]

Either he's a crook or he's stupid. Either way, he clearly shouldn't be doing appraisals.

m2:

I would guess crook. Nobody with a license could be that stupid. Or could they? Either way, they have to lose their license.

 

[Mystery man3]

Dealing the OREA

If you wanna turn him in make sure you send all MLS sheets for the better comparable sales as the OREA has no access to the MLS and they require it for the hearings.

They told me they care about overvaluations of 20%.

Your name will come out in the course of hearings if you put in on the complaint sheet.

You can file anonymousley and just leave your name off.

Good luck in getting the scum out of the system. Your gonna need it.

 

[Em Tee]

If you wanna turn him in make sure you send all MLS sheets for the better comparable sales as the OREA has no access to the MLS and they require it for the hearings.

They told me they care about overvaluations of 20%. The problems had nothing to do with the value.

Your name will come out in the course of hearings if you put in on the complaint sheet. Fine by me.

You can file anonymousley and just leave your name off. OREA does not allow anonymous complaints.

Good luck in getting the scum out of the system. Your gonna need it. Yes, I know. The last time I filed a complaint, I received a letter from OREA stating they declined to prosecute.

..........

 

[Stephen J. Vertin MAI]

I don't know about the guy who wrote this report or what he did or did not do. I do know all data systems are limited. If you believe you have never misinterpreted or used incorrect data based on inputs than I believe it is simply a matter of it never being brought to your attention. The longer I am an appraiser the more aware I am of this fact. I was doing a funeral home in a disclosure state. Public records indicated the building was constructed in 1987 and a warranty deed transfer occurred in 2007. The sale was reported as arm's-length with no unusual financing. Called the buyer. He did not call back. No seller was listed. Due to the lack of data I used the sale indicating in the scope it was confirmed through public records only. Sale fell in line with all other data. Nothing suspicious. Turned out the transaction was a sale lease back. The tenant leased the land in 1987 and built the building. He finally bought the lease out in 2007 at a premium for tax purposes. A warranty deed was transfer, there was no unusual financing and the transaction was arm's-length. Weird.

 

[Em Tee]

Stephen J. Vertin, MAI;1669327]I don't know about the guy who wrote this report or what he did or did not do. I do know all data systems are limited. If you believe you have never misinterpreted or used incorrect data based on inputs than I believe it is simply a matter of it never being brought to your attention.

First, he obviously saw the 3 foreclosures had been listed on MLS and were either cancelled or expired since he put those MLS listing #s in his report, and since he also had the recorded doc #s in his report, he must have seen that they were foreclosure transfers, not sales.

The comp he used that was not listed in the MLS - why did he put MLS as his verification source?

Also, I didn't state in my first post all the errors he had regarding the subject. He stated it was stucco exterior (it was wood), on a slab foundation (it had a partially finished basement), zoning was wrong, etc, etc.

If it had only been one little mistake, no problem. I've looked back at old reports and found little mistakes. But his whole report was a pile of crap!!

 

[Stephen J. Vertin MAI]

Em Tee:

Relax.......read my first line again. Only you know what is up with this report. None of us can judge ethically without first hand knowledge (which is in fact reviewing the report). I am simply saying errors happen regardless of what this dude did. Further I am saying some errors have nothing to do with experience.

Believe me, I place no judgement on what you do. However, if you think it worthy of turning in, it is your responsibility to do so.

 

[mp2277]

OK, last week I did an appraisal, plain Jane split foyer. On the request the estimated value was 275k. My comps were all within 3 blocks, 2 of them on the same street, same builder, identical except the color of the vinyl. My value, 229. Range of comps was 228,500 to 230. Although this was an FHA refi, some realtor called me and basically told me I was an ignorant so and so and questioned my abilities as an appraiser. I guess she sold them the house or was a friend. So, today I get an e-mail from the broker with an appraisal attached. The appraiser is an old timer, so many letters after his name it looks like alphabet soup. He used 2 of my comps, and added 3 more, far away and in a superior area. And get this, he put in a listing for $274 that had been on the market for more than 300 days. And it was bigger, better, and in a superior area! His value, 250k. Guess I'm just ****ed and venting. In this area he is known as a "pro". Go figure.

 

[Kevin Mc]

OK, last week I did an appraisal, plain Jane split foyer. On the request the estimated value was 275k. My comps were all within 3 blocks, 2 of them on the same street, same builder, identical except the color of the vinyl. My value, 229. Range of comps was 228,500 to 230. Although this was an FHA refi, some realtor called me and basically told me I was an ignorant so and so and questioned my abilities as an appraiser. I guess she sold them the house or was a friend. So, today I get an e-mail from the broker with an appraisal attached. The appraiser is an old timer, so many letters after his name it looks like alphabet soup. He used 2 of my comps, and added 3 more, far away and in a superior area. And get this, he put in a listing for $274 that had been on the market for more than 300 days. And it was bigger, better, and in a superior area! His value, 250k. Guess I'm just ****ed and venting. In this area he is known as a "pro". Go figure.

send both reports to the state board, let them decide who the "pro" is.

 

[Common Sense]

send both reports to the state board, let them decide who the "pro" is.

Good Mr.K I am personally sick and tired of losing business because Appraiser's make deals work. I lost an assignment because the LO said he had a guy who could get his number. He said I want to give you the first crack because i never have to deal with UW stips with your report.

I simply explained I would be more than glad to take the assignment but i will never take an assignment with A target to hit. In fact I still have the Email I am going to see if that property sold. My state board may be getting a call.

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