- Nov 4, 2004
- Professional Status
- Certified Residential Appraiser
I was fortunate enough to get 3 e-mails yesterday from an AMC in regards to an appraisal I wrote on Monday. The first was the AMC asking me to consider two other comps. The second was a screen shot from the lenders AVM showing an estimated value and an overhead picture of the subject. The third was a full page rambling of an angry homeowner who did not get the value he wanted. The AMC was very clear in telling me to address each of the borrowers concerns. In the process of researching each of the borrowers concerns, I discovered descrepancies in the information provided by the lenders AVM. (IMAGINE THAT???) The first listed sale was for $166.500 and MLS & county records indicated a $111,000 sale. The second listed sale was for $160,000 and MLS & county records indicated a $107,000 sale. The third listed sale was for $307,000 and the property does not even exist. I checked with 2 departments at the county court house, checked with the developer, and drove by the location and photographed two properties that skip right over the "sale" address. The fourth listed sale was for $131,500 and MLS & county records indicate a $87,200 sale. All of my findings were verified twice. Each existing property has the MLS sold sheet and the Supervisor of Assessments computer screen shot showing the correct sales price in the report. The property that does not exist has an addressed plat map from the county, a letter from the developer, and my photographs in the report showing the property does not exist. After having said all that. I stated that information provided by the AVM was outright fradulent. Now the AMC wants me to remove the negative statement about the lender. Is this a negative jab at the lender or an unfortunate truth backed up by concrete evidence? Should I hold my ground or remove the statement?