Illinois Board Issues Warning On Hybrid Appraisals

[Deleted member 128537]

What I got out of the article in WorkingRE is that there is no real agreement about when it is allowable or not allowable to use a licensed appraisal to gather data and give opinions about that data. The potential disconnect between the state boards and the TAF is concerning. On that basis alone I would avoid them.

The one reason I can see for having another person doing the inspection is efficiency. I've often stated that if I had a partner and we had the volume, one of us could be out inspecting, taking comp photos, etc while the other is putting the reports together. I could more than double my output. But I wouldn't lower my fees. The point of efficiency is making more money not less, and I'd have to pay my partner.

 

[Evincere]

No. I’ll leave it at that. Set that meeting up with TN appraiser coalition or other States if you want change. Where is California?

I think I saw it on a map somewhere.

Train wreck is coming. Even Louisiana ain’t done yet. Just watch as states move. Would love some big dogs to meet with Tennessee appraiser coalition.

Scared? No time or money? Lol

I have contacts. We could raise money. Do a go fund me page and target all TN appraisers.

Need participants. Like big participants. TAC will be fine.

Way Too many meetings have taken place where the fate (decisions for / on behalf) of the many have already been decided by the few.

 

[Eli]

Too many meetings have taken place where the fate (decisions for / on behalf) of the many have already been decided by the few.

If that holds true, get ready for Martial law. Don’t give up your guns. You’ll have plenty of govt employees on your side.

 

[Eli]

We were close to a total collapse in 2008.

Keep your guns.

The Lord works in mysterious ways. Our days are numbered. Yesterday is the same to Him as tomorrow.

Get ready for more govt intervention, especially at the STATE level. I don’t mean state appraisal boards. I mean like the Governor and state reps.

 

[djd09]

Barry Stone: Agent rejects buyer’s home inspector

Published: Sat, May 11, 2019 5:00 AM

DEAR BARRY:When we bought our home, our agent was displeased with our choice of home inspector and convinced us to use someone else. Now that we own the house, problems that were not disclosed to us have been costing us a lot of money, and we're sorry we didn't stick with our original choice.
The inspector we had wanted has a reputation for being detail oriented, but we did not hire him because our agent said he was an alarmist. Now we're stuck making expensive repairs and hope you might warn other buyers who might make the same mistake we did.

DEAR HAL: For an agent to dissuade buyers from hiring their preferred inspector is a foolish, risky and unethical practice. When an agent labels a home inspector as “an alarmist,” that agent’s motives immediately become suspect. Some of the best home inspectors in the profession, those who are highly detailed and thorough, have been unfairly labeled in this way: some as “deal killers,” some as “deal breakers” and some as “alarmists.”

Barry Stone: Agent rejects buyer’s home inspector

SEP 8, 2020 - DEAR BARRY: When we bought our home, our agent was displeased with our choice of home inspector and convinced us to use someone else. Now that we own the house, problems that were not disclosed to us have been costing us a lot of money, and we're sorry we didn't stick with our...

oklahoman.com

See how it is going to work. What water spot?

 

[djd09]

Go re-read the countrywide whistle blower case where madsen walk away with 56 million (true story). all the provided examaples of appraisal misconduct were condition based. What water spot?

 

[djd09]

USPAP. Page 24 Line 759 to Page 25 Line 771.

(b) not commit a substantial error of omission or commission that significantly affects an appraisal; andComment: An appraiser must use sufficient care to avoid errors that would significantly affect his or her opinions and conclusions. Diligence is required to identify and analyze the factors, conditions, data, and other information that would have a significant effect on the credibility of the assignment results.

(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 affects the credibility of those results.

yep

 

[Eli]

Hyperbole is cheap. Where is Joan? Lol

 

[djd09]

notice no one will say they came up with this grand idea. you think they would want credit. chickens

 

[Mr Rex]

One thing for sure is that Mr Weaver's personal opinions shape IL appraisal laws and regs. In the past he has been reasonable. In this case, he is using his personal interpretation of USPAP in a contrary position of many "USPAP Experts" . If he last name was Trump, he would be called a Dictator who had exceeded his constitutional authority. Pitchforks and Torches, IMPEACHMENT is obviously in order. As Milessa Milano would say ,check yourself.