On purchase transactions, can effective date of appraisal be changed from inspection date?

[Zoe]

Is appraisal fee on truth in lending disclosure fabricated? Absolutely in many many cases.

 

[Surf Cat]

Maybe, but they listed it as a closed sale as of effective date. I don't know what that market is doing.

There is no "maybe"....the OP, instead of correcting their mistake, listing the Fourth comp as pending and explain.....LIED and changed the effective date of the appraisal to accommodate the closing of the pending sale. Hence, the whole premise of this thread.

Effective date is the problem and them reporting the listing as a closed sale. Big problem.

The effective date is not the problem, it's the effective date, simple as that. Listing the pending sale as closed... let's give the OP a break and call that a mistake.

But instead of correcting the pending sale and listing it as pending, and providing a simple explanation, the op changed the effective date.....there's the big misleading problem.

 

[Surf Cat]

Some appraisers and brokers and bankers have been known do just fabricate sales and values and many other things. How old are ya'll?

It's hard to fly straight in real estate when everyone else is flying sideways.

That being said, I like to sleep at night. Morals and ethics is big with me. I can't worry about what everyone else is doing.

 

[Zoe]

It's hard to fly straight in real estate when everyone else is flying sideways.

That being said, I like to sleep at night. Morals and ethics is big with me. I can't worry about what everyone else is doing.

Can you just focus on the problem at hand for the OP.

I have offered the best solution.

Are you trying to bury the OP?

 

[Zoe]

Do you want the client to escalate it?

I don't know the OP. I don't want the client to escalate it personally. I don't know the client.

Ya'll are on edge today. Calm down.

 

[Zoe]

There is no "maybe"....the OP, instead of correcting their mistake, listing the Fourth comp as pending and explain.....LIED and changed the effective date of the appraisal to accommodate the closing of the pending sale. Hence, the whole premise of this thread.


The effective date is not the problem, it's the effective date, simple as that. Listing the pending sale as closed... let's give the OP a break and call that a mistake.

But instead of correcting the pending sale and listing it as pending, and providing a simple explanation, the op changed the effective date.....there's the big misleading problem.

"The effective date is not the problem, it's the effective date, simple as that. Listing the pending sale as closed... let's give the OP a break and call that a mistake.

But instead of correcting the pending sale and listing it as pending, and providing a simple explanation, the op changed the effective date.....there's the big misleading problem."

Do you see the dichotomy in your statement?

Do you want the appraiser to be prosecuted? I personally don't.

 

[Zoe]

I do not know the subject market. I always focus on the subject property. I don't appraise people.

I appraise real property.

Actually it is real property rights if you want to get real technical with me.

 

[Dublin ohio]

let's give the OP a break and call that a mistake.

The OP basically stated just that. They made a mistake. No big deal. We all have. Suck it up, revise the report with an additional closed sale, use the pending as a pending and move on. But by doing what they did. They put themselves in a compromising situation that may not work out well.

 

[Zoe]

The OP basically stated just that. They made a mistake. No big deal. We all have. Suck it up, revise the report with an additional closed sale, use the pending as a pending and move on. But by doing what they did. They put themselves in a compromising situation that may not work out well.

Yes, it could get ugly.

 

[Sadie]

Right... which means that you don't use the 1004 for prospective or retrospective appraisals. Or... you add a bunch of hooping jumping commentary.

As was pointed out earlier in this thread, the GPAR fom is the 1004 is not the appropriate form for a pro or retrospective appraisal. A bunch of commentary is never going to help that. The 1004 is specifically for a mortgage transaction..