- Jun 7, 2004
- Professional Status
- Certified Residential Appraiser
- New York
I have been fairly diligent about posting what I suspect are potential problem "deals" on the list. I appraised a unit in a HOA several months back. Order came in including a 6% seller's concession. I appraised the unit for market value($15K shy of what was on the contract w/ the concession). Everyone involved was furious. I informed them all that there existed 5 sales in the complex that were within pennies of my value. There were NO sales in the subject complex or surrounding complexes that supported the contract price. I was informed by the MB he would not pay me for the appraisal (he did after I threatened him) and he was ordering another from a "better" appraiser who would find an extra $15K. The sale just posted to public records, he did find a "better" appraiser. I posted this address immediately to the MFWL so the lender involved(I believe it went to Option One) would know what was up. They either ignored it or just did the deal anyway. This business can be a disgrace at times.