OREA USPAP complaint

[TexasRed]

I got a letter today from the OREA (California appraisal board) saying I need to send in six different appraisals with work files. All six appraisals were for the same client and the same guy was either the buyer or seller on each one. The client sent me a letter last year saying to send in my work files but they would not give me any reason or any feedback from a reviewer (I am assuming they didn’t have one done) so after consulting the OREA’s USPAP line I told them unless they gave me some specific complaints I would not send in my work files.

Side note: I was told by the guy above that was buying and selling these condos that the client called him and told him the guy he sold one of the units to didn’t make his first payment and he needed to take out a second on the condo for the buyer. He told them they were crazy and after his lawyer sent them a letter they moved on to me.

I have looked at each of the appraisals and they are good, comps are mostly model matches, bracketed and all values are solid etc....

When I call the OREA Monday are they going to give me specific reasons for this? I am not worried about getting in trouble because I did a good job. I am worried that I am going to have to spend a lot of time getting all these work files ready to send in then go through a bunch of BS!

Has anything like this happened to anyone?

* If you are the person that is going to flame me, don’t! I did and do good work so save it

 

[Elliott]

Its been my experience that any complaint, 'HO thinks value too low',
'HO wasn't given a copy of the report', 'reviewer is $50K off on his
value estimate on my report', boards can and do request a true copy
of report and the workfile. Its not 'optional.'

 

[Carnivore]

I see you claim Texas as your place of practice.

Where did you say you completed these appraisals?

 

[TexasRed]

I moved last year.

 

[PropertyEconomics]

Michael ... I personally dont think you can deny your work file and copies of the appraisals to the board to whom you were licensed to at the time you did the work. Perhaps you should consult your E&O Carrier ... but to simply deny them the files is a very poor stance to take I would suspect.
They can get a subpoena and get them .. why not cooperate if you have done the work well and all is ok?

 

[TexasRed]

Michael ... I personally dont think you can deny your work file and copies of the appraisals to the board to whom you were licensed to at the time you did the work. Perhaps you should consult your E&O Carrier ... but to simply deny them the files is a very poor stance to take I would suspect.
They can get a subpoena and get them .. why not cooperate if you have done the work well and all is ok?

I would not deny the files to the state, after I call if they want them they will get them and fast.

I denied them to the lender because they wanted me to write a detailed explanation on each report and would not just order a review. If I were to write a detailed explanation of every point made in the report we are talking about a huge paper (time 6 reports).

 

[PropertyEconomics]

I would not deny the files to the state, after I call if they want them they will get them and fast.

I denied them to the lender because they wanted me to write a detailed explanation on each report and would not just order a review. If I were to write a detailed explanation of every point made in the report we are talking about a huge paper (time 6 reports).

Why do you have to call? They have sent you the letter requesting the files. They have MADE their call. You must comply .. no matter what they tell you. You say you need a good reason otherwise you have to spend a lot of time ... well not to berate a point ... you dont have a choice. If you dont have detailed explainations in your work file you may be in trouble anyway. As has been noted, its not optional to give them or not. They have asked ... you must comply, no matter how long it takes or how bogus the complaint may be.

I dont know if you can deny the work file to your client either. The lender is entitled to your reasoning ... and if you have to write 6 times ... then so be it. Might be a good question for your E&O Carrier.

 

[TexasRed]

I dont know if you can deny the work file to your client either. Might be a good question for your E&O Carrier.

You don’t have to give work files to clients. I called the OREA USPAP line to ask before I told the client.

The work files are not the issue here, I was looking for anyone’s past experience with this.

 

[PropertyEconomics]

You don’t have to give work files to clients. I called the OREA USPAP line to ask before I told the client.

The work files are not the issue here, I was looking for anyone’s past experience with this.

Your appraisals are summary reports with full resoning and documentation held in your work file. Again I suggest you ask your E&O carrier ... I think the client may be entitled to your reasoning. I dont think you can withhold it IF they ask.

 

[TexasRed]

Not according to the USPAP guy at the state office. They would not tell me what they wanted an explanation on, that was the problem.