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Pain In The @** Title Co.

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Indiana Jones

Member
Joined
Oct 16, 2002
Professional Status
Licensed Appraiser
State
Indiana
I turned in a report a week ago or so, the LO calls me yesterday and says that the UW is stiping me on an extra comp, need digital signature addendum, so far no big deal, but they also need to have the legal discription on the report corrected. I'm thinking I maybe had a typo on the report or something, so I pull the report check the legal with the info that I have, I even called the assessor again to verify everything, everything checks out. So the LO faxes a copy of how the title company wants the legal to read and it doesn't look anything close to what the assessors got. Who's right here? How should I handle this, and how can I verify and convince them that my legal is correct?
 

Dave Smith

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Wisconsin
Get a copyof the current deed if it is available for the property involved.
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
OK Mike here is an easy solution. Go get the deed, scan it into your report, SAy in the legal description part of the report "SEE ATTACHED DEED".

Then let them figure out how to change it.
 

sam strahan

Junior Member
Joined
Jan 17, 2003
Professional Status
Licensed Appraiser
State
Texas
go with the title company. they either got the legal from a survey or a deed so you do the same. i know i work in my father's title company. i generally have to help our tax office with descriptions.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
i would hate to depend upon the legal description provided by our assessor. They can't spel k-a-t. I have a property just finished that CLEARLY in the deed, deeded 5 ac. OUT of the 30 total acres. The assessor has transferred the entire 30 acres to the buyer of the 5. The landowner does not own any property according to the assessor.
 
W

walt kirk

Guest
This is your appraisal report, you are responsible for its contents. Put the legal description that you are happy with in the report. Refuse to change any data in your report if you disagree with the change. Title companies have made mistakes before and I am sure that they will do so again.
 

sam strahan

Junior Member
Joined
Jan 17, 2003
Professional Status
Licensed Appraiser
State
Texas
Originally posted by walt kirk@Jun 6 2003, 10:16 AM
This is your appraisal report, you are responsible for its contents. Put the legal description that you are happy with in the report. Refuse to change any data in your report if you disagree with the change. Title companies have made mistakes before and I am sure that they will do so again.
true
 

Bob Stainbrook

Sophomore Member
Joined
Jan 3, 2003
This is not an uncomon thing lately. The searchers in our area often reverse the parcel ID with the Map number. Call the LO back and tell him it's the title Co. problem and you are not changing it. If they push it just call someone higher up in the title Co ( aka manager, etc. ) and let them know. With my luck this would be the appraisal that the home gets foreclosed on, but some sharp attorney will haul everyone into court and say that the bank can't get the house very easy because the title & apprassal don't match. Guess where the bank is looking to next to get their money.

1. Your E & O
2. Title Insurance
 

Ted Martin

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Kansas
If your county assessor is like our county appraiser's office. Their legal description is made up by whoever entered the property in the computer and it is edited as needed to fit in the space available. The deed is your best source of data.
 

Sean Wagle

Sophomore Member
Joined
Apr 18, 2003
Professional Status
Banking/Mortgage Industry
State
North Carolina
If you really want to nail it, check the Grantee index for the deed prior to the current owners. (In the name of the person who sold it to them.) Match that legal description with the one on the current owners' deed.

If they are different, the title insurer will pay for the problem. :mrgreen:
 
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