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Incorrect Public Records

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Fernando

Elite Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
All my years in appraising and I've never seen public records be so wrong in bedroom and bathroom count. I was expecting a 4 bedrm 3 bath home but in actuality, it's a 2 bedrm 2 bath home. If I'd known, I could have ask for higher appraisal fee which I usually do. Could I ask for it now? Sure, but as a business decision I won't because I still can do the appraisal. I just HATE surprises.
 
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Deleted member 128537

Guest
Is it really that big of a deal? What's more complex about it? Sounds pretty straight-forward to me.
 

Fernando

Elite Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
I look at complexity not just physical but mainly availability of comps. There were no 2 bedrm homes sold this year in area. Whenever such a scenario, I ask for higher fee in anticipation of client asking for 2 bedrm comps outside area.
 
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Deleted member 128537

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Just because there aren't any comparable sales doesn't necessarily make it more complex. It might be harder to come up with comparable sales, but you can go out further in distance and time to find suitable comparables. Do it all the time. Just explain why. I do this with 1 bedrooms all the time.
 

Fernando

Elite Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
I try to stay within same neighborhood. It's difficult to make location adjustments for different adjacent areas. The areas are very different. I rather go further back in time than go out of the area. Whenever there's an overimprovement or underimprovement of a property in an area, I refuse to do it knowing it takes more analysis. I believe in location, location, location.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Anyone relying on public records should expect occasional errors. They don't get to inspect interiors usually. So check prior listings, our MLS goes back 20 years or so. Catches most properties.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Is this home a split-level of some sort?

Which County are you working in?
 
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Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
Anyone relying on public records should expect occasional errors. They don't get to inspect interiors usually. So check prior listings, our MLS goes back 20 years or so. Catches most properties.


What he said. ^^^^^^^^^^^^^^
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
We got bit on one. Records showed a 1970's rancher, found the home had been torn down, new home double the size. We just bit the bullet.
 
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