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HELP - they want misleading description of improvements

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Ruth; read your first bit of info - and offer the following;

Standards Rule 1-1
In developing a real property appraisal, an appraiser must;
a) be aware of, understand, and correctly employ those recognized methods and techniques that are necessary to produce a credible appraisal;

B) not commit a substantial error of omission or comission that significantly affects an appraisal; and

c) not render appraisal services in a careless or negligent manner, such as by making a series of errors that, although individually might not significantly affect the results of an appraisal, in the aggregate affect the credibility of those results

Now if whomever is asking you to alter your data is holding a "license or Certification" and provides you with that #, so you can check if it's valid; and is willing to sign off as the responsible party for the contents of that report, I wouldn't hesitate to leave out valid information (omission of facts) 8O

Best of Luck 8)
 
Ruth,

You dont have a choice not to disclose it. I guess you do have a choice but if you run a clean shop....you get my point. Regardless of the fact that this improvement only adds to the marketability of the subject property (stated in your opinion), you cant just omit it. I dont know what else they could possibly want after you have already jumped through the hoops here. Why dont we just ignore the land mines on the back 40, or maybe the defunct oil rig in the front yard, or the tire depot in the back yard.

Left field here but dont think this scenario wouldnt come into play, what if this horse palace caught fire next month and the wind carried burning ashes to the roof of the main res, and it burns. Who ever got this mortgage paper in their portfolio had no idea this improvement was on the land........... I got a feeling you would get a phone call.

Tell your lender you are in the CYA biz not the omit biz..

Good Luck

MRM
 
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