More On Free Comp Checks

[Ken B]

Curious, my 12C says "ERROR".

 

[Stone]

Curious, my 12C says "ERROR".

See, that is why I use a 17BII. It recognizes a zero when it sees one.

 

[Offshore]

My 12C reads "The LO and COREA are always right."

 

[Mister Ed]

Steve - for the last time and I won't discuss this again. In time you'll all come around to the literal translation and the conclusions I've reached as have many others. You can do comp checks all day long and filter data all day long but as long as you don't numerically express a value or range of value to a client it's not an appraisal. How you numerically express it is of the utmost concern and is the definition of appraisal. If you send a note with a value or value range on it, or you send MLS comps that show filtering by you that suggests a value or range of value or if you state a value publicly and not privately - then and only then is it an appraisal that can be proved in a court of law. A paper trail is needed 99% of the time for proof in a court of law. 100% of the time a value or value range expressed as something written by you or delivered by you (MLS comps) makes it an appraisal. It must be numerically expressed by you as you are the appraiser - not someone else with a benchmark. Comments about a benchmark do not make an appraisal. Remember - a value or value range has to numerically expressed BY YOU for an appraisal to happen and overwhelmingly proof of a numerical expression is written.

I'm a little too busy for this crap today, wise up you knuckleheads (and I say that with love). Have a good day!!

Apprazur,

Here is the exact quote from which you are only quoting part. However, note that I marked a couple of commas and the work "or" in bold and red. That is to make them stand out clearly. In other words, these indicate that the sentence contains a list of more than one item showing how an appraisal is expressed. I was a communications major in college and this is stuff that we had to have mastered by the end of our first week.

Comment: An appraisal must be numerically expressed as a specific amount, as a range of numbers, or as a relationship (e.g., not more than, not less than) to a previous value or numerical benchmark (e.g., assessed value, collateral value)

Here is an example of each:

numerically expressed as a specific amount:
The subject property is worth $40,000

as a range of numbers:
The subject property is worth between $35,000 and $50,000

as a relationship to a previous value or numerical benchmark:
The subject property is not worth more than what I appraised it for 2 years ago.
The subject property is not worth less than what I appraised it for 2 years ago.
The subject property is not worth less than the assessed value.
The subject property is not worth less than the number you said you needed to make the deal work.

Note that in the last series of examples, a number was not expressed, but a value was indicated as it related to another number (whether specifically expressed or not). That is the LITERAL translation of this.

 

[fifteen]

Posted twice - see below.

 

[fifteen]

No - your not getting the point. It HAS to be expressed as a numerical value, re.. the primary definition. The subsequent definitions are elaborations on the primary definition and do not stand alone.

 

[PropertyEconomics]

So if I am to understand you correctly, the LO expressed the numerical value .. and you just said thats doable without ever having spoken the number is that correct?

 

[Stone]

No - your not getting the point. It HAS to be expressed as a numerical value, re.. the primary definition. The subsequent definitions are elaborations on the primary definition and do not stand alone.

No matter how many times you repeat this drivel, it isn't true.

I really hope that nobody who is just starting out reads this nonsense. No wonder there are so many comp-checking skippies running around.

 

[Samshile]

And, this is now a fee contingency appraisal order. The appraiser only gets paid if the first freebie 'comp check' appraisal is a value opinion that will get the loan closed.

THIS is what brought on the HVCC.

That is not what brought on the HVCC. lol. Your putting quite a spin on the senario. or ur just kidding?
Nobody said they are giving false values.lol

Scapegoating brought on the HVCC.
A loan requires a little more than a comp check range.

 

[Offshore]

That is not what brought on the HVCC. lol. Your putting quite a spin on the senario. or ur just kidding?
Nobody said they are giving false values.lol

Scapegoating brought on the HVCC.
A loan requires a little more than a comp check range.

No - your not getting the point. It HAS to be expressed as a numerical value, re.. the primary definition. The subsequent definitions are elaborations on the primary definition and do not stand alone.

Is this English Major day? There does seem to be some consistency.