States who prohibit BPOs as alternatives for Appraisals

[Bob Ipock]

The weakness is not in the law. The weakness is in enforcement of the law.........AND how can you expect enforcement is there are no complaints filed. Most appraisers simply do not have the backbone to file a written, signed complaint.

My hope is that 50 people will now post and say they did file a complaint and what resulted from the complaint.

 

[Greenback]

The verbiage below isn't strong enough:

...The broker's price opinion permitted under this chapter may not be used as an appraisal, or in lieu of an appraisal, in a federally related transaction.

Sincerely,

 

[Karl]

Here in AZ it ONCE was a law ALL Real estate Transaction required an Appraisal This was due to the fraud in AZ in 60's 70's . When AZ attacked ZAIO, Zillow & other internet sources, Guess what happened the law got weakened so BPO's are now acceptable so be very careful.. You all may NOT believe this, but many Politicians & others do NOT believe that Appraiser's are as important as Appraisers think they are.

Lets see RE Contributions verses Appraiser contributions to a Political candidate hhhhhhhhhhhmmmmm!!

 

[Greenback]

...Here in AZ it ONCE was a law ALL Real estate Transaction required an Appraisal This was due to the fraud in AZ in 60's 70's . When AZ attacked ZAIO, Zillow & other internet sources, Guess what happened the law got weakened so BPO's are now acceptable so be very careful.. You all may NOT believe this, but many Politicians & others do NOT believe that Appraiser's are as important as Appraisers think they are.

Lets see RE Contributions verses Appraiser contributions to a Political candidate hhhhhhhhhhhmmmmm!!

Can I quote you on this?

Sincerely,

 

[Bob Ipock]

You all may NOT believe this, but many Politicians & others do NOT believe that Appraiser's are as important as Appraisers think they are.

Lets see RE Contributions verses Appraiser contributions to a Political candidate

hhhhhhhhhhhmmmmm!!



There seems to be very, very few appraisers that understand this. Appraisers believe they are far more important that anyone else does.

 

[mopickled]

The weakness is not in the law. The weakness is in enforcement of the law.........AND how can you expect enforcement is there are no complaints filed. Most appraisers simply do not have the backbone to file a written, signed complaint.

My hope is that 50 people will now post and say they did file a complaint and what resulted from the complaint.

I have filed written, hand delivered complaints to NCAB showing what I considered fraud in appraisal reports written by appraisers.

NOTHING was done - so I will not expect ANYTHING to be done when/if I get proof of a realtor performing BPO's for money.

When the sheriff has her head in the sand, the monkeys will throw poop at the patrons as usual with no fear of reprisals. m2:

 

[Bob Ipock]

Mo,


What actually was done? Did you get a letter from the NCAB saying they had received your complaint? Did you later get a letter saying the disposition of the complaint?

Was a case opened and an investigation done?

Something had to be done....even if it was not what you wanted or expected.

Been there done that...several times. I have filed complaints concerning fraud, ethics violations, misleading advertisements etc. and I have always received some kind of response..........even if I did not like the response I got.


My issues have never been with NCAB staff. I have always found the staff to be helpful and responsive. On the other hand dishonest board members can have far more influence and participation than was ever intended. The NCAB...micro-managed by disreputable board members since day 1.

I think users of BPOs have already figured out how to bypass NC law........it is so easy to do..........simply state on every order form for every BPO, that a listing might well be offered to the agent performing the BPO. The law does not say you have to actually GET a listing.....jut hope for one.

 

[Greenback]

...If, however, you're talking about obtaining a BPO (Broker's Price Opinion) or a CMA (Competitive Market Analysis) by a Real Estate Agent or Broker, be careful what you wish for. ~ Ms. Joyce Potts

I'm stuck on that sentence. The name competitive market analysis is correct. Also, I'm reminded of someone from a bank told me.

The name implies a lot. Does every state have an "implied contract" clause/rule/or statement in the law? In Louisiana, one can enter into an implied contract.

I see states defining CMAs as a comparative market analysis.

Sincerely,

 

[Bama Bayou]

The weakness is not in the law. The weakness is in enforcement of the law.........AND how can you expect enforcement is there are no complaints filed. Most appraisers simply do not have the backbone to file a written, signed complaint.

My hope is that 50 people will now post and say they did file a complaint and what resulted from the complaint.

If anyone ever runs across a copy of a BPO for a fee in AL please let me have a copy of it. I'll file a complaint with the appraisal board and RE commission in a heart beat.

 

[Richard J. Glesser]

Mary
Hopefully you'll join us in formation of MICAP to lobby and provide input to the state on appraisal issues.