sqft in 2055 exterior only

[Xiaomei Zhu]

Hi,

I just got a letter from a lawyer. He said I intentionally or negligently misrepresented the size of the house his client bought last year. I checked the appraisal I did for this purchase. Since it's a 2055 exterior only appraisal, I didn't need to measure the house and used the data from the county appraisal recores and MLS listing. Based on the country records and MLS listing it's 3,900 sf, which I used in my appraisal. But in the letter he said it's 3,415 sf based on the previous appraisal and I should have known it. In fact, I have never seen the previous appraisal and didn't know it is 3,415 sf. I'm very unhappy about this because the lawyer was making false statement. Should I lodge him a complaint?

Thanks.

Xiaomei

 

[Carnivore]

Thats it, he only sent you a nasty letter!

Did he make any demands? If not then dont worry about it.

 

[stefan olafson]

Well, that's one of the many reasons I don't do exterior only appraisals. Where does it say that just because it's an exterior only, that you shouldn't measure the exterior?

Given that mistake, did you state in more than one place PROMINENTLY in the appraisal that it was an exterior only and you were using county and MLS as your source for the square feet?

If you did state that, then you should be safe from too much harm. Consult your attorney and have him/her write a letter back to the homeowners attorney regarding how you PROMINENTLY stated in the appraisal that you were using public information as far as the square footage.

Maybe have your attorney ask that you be allowed onto the property to now measure the property, how do you know you were wrong????

 

[Randolph Kinney]

Which version of the 2055 did you use? And what verbiage or disclaimers did you put in your report about inspections and data sources?

Since this really looks like a demand letter, you are not being sued. However, be careful about replying to this letter. Whatever you put into a response can be used to help initiate a lawsuit.

 

[Mike Kennedy]

The letter is a pre-cursor to a. a suit and/or b. a complaint to the state.

Did the 3900sf include a finished Basement area? Did you review the Assessment Records including a sketch?


***** do not respond without consulting your E&O carrier (let their attorneys handle it); and/or possibly consult your own attorney. PRONTO.

 

[Xiaomei Zhu]

This is a demand letter. He said he'll sue me or I can pay to $86,000 to get it settled without going to court.

The form I used is exterior-only inspecition residential appraisal report. On the section of the sourses used for the property I checked 'MLS' and 'Assessment and Tax records'. I didn't specifically state that I didn't measure the house. But 2055 exterior form has its scope of work which state minium requirements.

 

[Hamlet]

Hi,

I just got a letter from a lawyer. He said I intentionally or negligently misrepresented the size of the house his client bought last year. I checked the appraisal I did for this purchase. Since it's a 2055 exterior only appraisal, I didn't need to measure the house and used the data from the county appraisal recores and MLS listing. Based on the country records and MLS listing it's 3,900 sf, which I used in my appraisal. But in the letter he said it's 3,415 sf based on the previous appraisal and I should have known it. In fact, I have never seen the previous appraisal and didn't know it is 3,415 sf. I'm very unhappy about this because the lawyer was making false statement. Should I lodge him a complaint?

Thanks.

Xiaomei

Who said the previous appraisal was measured correctly? Why should you have a copy of the other appraisal, was it supplied to you, is it part of public records?

I agree call your E&O and your attorney before you respond.

 

[Hamlet]

This is a demand letter. He said he'll sue me or I can pay to $86,000 to get it settled without going to court.

The form I used is exterior-only inspecition residential appraisal report. On the section of the sourses used for the property I checked 'MLS' and 'Assessment and Tax records'. I didn't specifically state that I didn't measure the house. But 2055 exterior form has its scope of work which state minium requirements.

He just wants to know if you have the 86K laying around.

Maybe they are losing their house and this is a last ditch effort to find some cash.

BTW, what was the intended use and intended user of this report? Did you discuss with your client the SOW and that the inspection would not include exterior measurements?

 

[Ken B]

the lawyer was making false statement

I have never heard of such a thing.

 

[Xiaomei Zhu]

I've never seen the previous appraisal and of course it's not part of public records. The intended use is 'to assist the client in making an underwriting decision regarding the subject'. Its scope of work is a drive by exterior only inspection of the subject and all the comparbles.

By the way I don't have E&O since it's not required here in Texas. I guess I'll have to handle it all by myself. All suggestions are helpful.

Thanks.