Problems verifying concessions with Realtors!

[Joyce Potts]

For all those appraisers who rely on verbal representations by Realtors as to conditions of sale, excessive real estate commissions, concessions, discounts and incentives AND/OR condo or PUD/HOA associations WITHOUT written, dated and signed documentation...you may have skidded by for years doing it this way, but I contend it's only a matter of time before you're called on the carpet and you begin sweating bullets when a lawyer has you on the witness stand trying to dissect the 'credibility' of your report. Not to mention any state administrative complaint.

 

[TN Pro]

Now you are making me curious. Name, Please?

Wendy. The funny thing is, when i also became a Realtor and had to go to the four day orientation classes, she couldnt have been nicer. Its only when i had to deal with her as an appraiser that there were issues.

 

[Willie]

For all those appraisers who rely on verbal representations by Realtors as to conditions of sale, excessive real estate commissions, concessions, discounts and incentives AND/OR condo or PUD/HOA associations WITHOUT written, dated and signed documentation....

Well, I have Realtors sign and date it, in their own blood, or the blood of some hapless appraiser I just took out in a review, and futhermore, I take it even one step further, I have it properly notarized. But then again, I'm not a skippy.

 

[TN Pro]

For all those appraisers who rely on verbal representations by Realtors as to conditions of sale, excessive real estate commissions, concessions, discounts and incentives AND/OR condo or PUD/HOA associations WITHOUT written, dated and signed documentation...you may have skidded by for years doing it this way, but I contend it's only a matter of time before you're called on the carpet and you begin sweating bullets when a lawyer has you on the witness stand trying to dissect the 'credibility' of your report. Not to mention any state administrative complaint.

I dont know about where you live, but here, it is hard enough to get a verbal indication as to concessions, Conditionds of sale etc. I know personally, or know of, most of the participants in the TN forum and can say that the majority are the kind of appraisers that you want to be around, and are a credit to our profession.
These guys arent the ones you need to be preaching to about thier lack of efforts or the way they garner such information.
I would be more than happy to defend my work and my methods, to a court of law, an attorney, or the State of Tennessee.

 

[Joyce Potts]

I dont know about where you live, but here, it is hard enough to get a verbal indication as to concessions, Conditionds of sale etc. I know personally, or know of, most of the participants in the TN forum and can say that the majority are the kind of appraisers that you want to be around, and are a credit to our profession.
These guys arent the ones you need to be preaching to about thier lack of efforts or the way they garner such information.
I would be more than happy to defend my work and my methods, to a court of law, an attorney, or the State of Tennessee.

The question is not your ability to defend your practices. The question is will you prevail?

If HUD-1's were recorded it would be a non-issue.

 

[Willie]

The question is not your ability to defend your practices. The question is will you prevail?

If HUD-1's were recorded it would be a non-issue.

I just get male realtors to sign over their right nut. HUD 1's are not needed.

Seriously though, I don't want anybody knowing how many cattle I have, as would be the case if HUD-1's being recorded. It's an idiotic idea. Think about the lawyers counting people's money....... looking for targets, and so forth.

Heck, I wish TN to be a non disclosure state. Makes solid appraisers more valued.

Nontheless, just keep on doing what your peers are doing, which is the original purpose of this thread. It's the best info we have, and for anything that remotely resembles a typical fee, it is all that the typical scope requires. If something is up, use the best info you have. Never give anyone the benefit of the doubt. Do due dilegence.

All this said, I'm glad my local MLS requires the disclosure of concessions. I know not all realtors do it, but most do.

 

[Thern Newbell]

http://www.tardigest.com/?p=175

FYI--This is a recent TAR digest (Tn Assoc of Realtors). Read item #2 referring to providing a sales contract to an appraiser. This post was followed a few days later (2nd link below) with a clarification to the opinion of TAR's legal counsel.

http://www.tardigest.com/?p=175 ---see item #2

http://www.tardigest.com/?p=179 ---clarification to the prior post.

It's hard enough getting info on concessions from agents, now this? Fortunately, I am typically provided the contract by my client, but have called the agent from time to time to get a more legible copy.

 

[TN Pro]

http://www.tardigest.com/?p=175

FYI--This is a recent TAR digest (Tn Assoc of Realtors). Read item #2 referring to providing a sales contract to an appraiser. This post was followed a few days later (2nd link below) with a clarification to the opinion of TAR's legal counsel.

http://www.tardigest.com/?p=175 ---see item #2

http://www.tardigest.com/?p=179 ---clarification to the prior post.

It's hard enough getting info on concessions from agents, now this? Fortunately, I am typically provided the contract by my client, but have called the agent from time to time to get a more legible copy.

Thanks for the links.

 

[RSW]

It's no wonder that the RE agents are mad at us appraisers. They are not allowed to talk to us or pressure us for a value in order to make the deal work. They are taking this out on us when it wasn't our fault.

 

[Thern Newbell]

I guess it could be worse:

http://www.dallasnews.com/sharedcon...Sprices_18bus.ART.State.Edition2.50e6fd6.html