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Question How Can One Forget to Put

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Ray Miller

Thread Starter
Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
How can one forget to put in an appraisal report the co-owner who is not the wife, for get 70 acres of the 80 acres, for get that it is productive forest, general forest, and General Ag zoning, not Res. Forget there is a small barn for 27 x 47, a detached garage 18 x 21, a shop building 26 x 60. Give no value to the outbuildigns.

Just thinking out loud on this early morning review. Should I rubber stamp the review and say all is ok, or should I sink the boat and state all that is missing.

The comps are another matter but will not get into that. The appraiser is 175 miles from the office address. The comparables are 90 miles from the subject. I have comps less the 15 miles from the subject on similar acreage.

Oh Well what a way to start the new month. :new_all_coholic:I know I am making judgements before I talk to the lender about the appraiser scope of work. S/he may of been given directives to write a report like this. I will call the lender at daybreak.
 

Josh Shapiro

Member
Joined
Jan 17, 2006
Professional Status
Certified Residential Appraiser
State
Florida
I am reviewing one right now that the appraiser is from Lee County (143 miles away), the appraisal was done is Hillsborough (.03 miles from my house, I can hit it with a rock). Subject is a "Short Sale", built 1988, comps are all 2003-2007 fair market sales. Interior photos show all floor covering missing, 1988 kitchen and baths, holes in wall. Appraier has stated subjct in average condition. Brings value in at $160. Contract for $140. All sales pre adjustment $210-$270. Fun Fun Fun.........
 

xmmcsmielr

Junior Member
Joined
Feb 4, 2002
Ray asked: "Should I rubber stamp the review and say all is ok, or should I sink the boat and state all that is missing."

What?

Are you kidding?

Rubber stamp?

You're joking, right? Or, hung over?

Of course you point out the omissions. Jesus Christ!
 
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