• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

I Should Know This, but.....

Status
Not open for further replies.
Nancy,
Love the simplicity of the LO - if FNMA and Freddie don't care any longer tell them (FNMA/Freddie) to put it in writting, as in the Fedrally required "Forms" will have to fill out 8O

Chris Harrison; u da top dog now :arrow: :?:



8)
 
I believe all the answers are ethically correct, but to answer the original question, the answer is NO. There is no requirement that states the prior listing must be mentioned, only current data. This is an omission in the USPAP requirements that should be addressed to clarify this. Remember, guys and gals, from grade school on - "read the question before answering it" - was ingrained in us by our teachers on test days. The question in this case was, "is there a requirement in USPAP...".
john from Atlanta
go h...
 
Thanks to all of you!!!

While I absolutely agree with everything you said about not concealing anything and mentioning any and all activity, what I was looking for was John's response. I had looked through USPAP --- and not finding anything, figured I'd missed it in all the well worded, easily read/understood document.

The FNMA1004 does include "listing" and "year" within the same sentence, but in context it does say "current.... listing" and "prior sales ..... year". The last time I took English, that sentence does not require analysis of listings within the last year, if they are not current.

I always mention listings -- in fact, recently got in dutch with the same LO for mentioning an unsuccessful listing that was cancelled 18 months ago. Just the fact that the loan officer asked the question makes me suspicious. If she hadn't, maybe I wouldn't have known it was listed in the last year....

Thanks again,

Nancy
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Back
Top