Carnivore
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
MODERATORS: This is Public Record!!
Thomas R. T. McIntosh A3721 (Cary)
By consent, the Board suspended Mr. McIntosh’s residential certification for a period of two years. The first year of the suspension is active. If Mr. McIntosh completes the 15 hour National USPAP course with exam, a course in business practices and ethics and a course in mortgage fraud by the end of the first year, the remainder of the suspension will be inactive.
Mr. McIntosh appraised a property located in Durham, North Carolina in September, 2006, finding a value of $155,000. The subject property is a 40 year old one story duplex with 1474 square feet. Mr.McIntosh recruited the purchaser to buy the subject property, and contacted the seller of the subject property to arrange a sale of the subject property. Mr. McIntosh had previously purchased another property from the seller of the subject property to renovate and re-sell.
The HUD statement for the closing of the subject property shows that $16,175 was paid to Mr.McIntosh, who subsequently paid out that sum of money to various contractors for repairs to the subject. His company was paid $350 for the appraisal on the subject, and his wife was paid a 9%commission of $13,410. Despite his obviously close connection to the subject property and the parties, Mr. McIntosh signed a certification on the appraisal that stated that he had no present or prospective interest in the subject property, and that he had no present or prospective personal interest or bias with respect to the participants in the transaction.
This certification was not true. As part of this complaint, Mr. McIntosh was asked to produce a copy of the appraisal reports and work file, but he failed to do so, stating that he did not have his work file.
Thomas R. T. McIntosh A3721 (Cary)
By consent, the Board suspended Mr. McIntosh’s residential certification for a period of two years. The first year of the suspension is active. If Mr. McIntosh completes the 15 hour National USPAP course with exam, a course in business practices and ethics and a course in mortgage fraud by the end of the first year, the remainder of the suspension will be inactive.
Mr. McIntosh appraised a property located in Durham, North Carolina in September, 2006, finding a value of $155,000. The subject property is a 40 year old one story duplex with 1474 square feet. Mr.McIntosh recruited the purchaser to buy the subject property, and contacted the seller of the subject property to arrange a sale of the subject property. Mr. McIntosh had previously purchased another property from the seller of the subject property to renovate and re-sell.
The HUD statement for the closing of the subject property shows that $16,175 was paid to Mr.McIntosh, who subsequently paid out that sum of money to various contractors for repairs to the subject. His company was paid $350 for the appraisal on the subject, and his wife was paid a 9%commission of $13,410. Despite his obviously close connection to the subject property and the parties, Mr. McIntosh signed a certification on the appraisal that stated that he had no present or prospective interest in the subject property, and that he had no present or prospective personal interest or bias with respect to the participants in the transaction.
This certification was not true. As part of this complaint, Mr. McIntosh was asked to produce a copy of the appraisal reports and work file, but he failed to do so, stating that he did not have his work file.
