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Supreme Lending Dallas
- Thread starter newwest1
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Great! Thanks for the quick reply!
Mejappz
Elite Member
- Joined
- Dec 16, 2005
- Professional Status
- Certified Residential Appraiser
- State
- Florida
Hey, I got a copy of an appraisal for Supreme Lending and the AMC was My AMC. It was full of mistakes. Here's what I found.
- The site's size was wrong by more than 1,000 SQ FT
- The zoning was not right different designation. The subject is legal-nonconforming.
- The appraiser used comps from outside the neighborhood when there were enough comps inside. The comp selection was awful.
- The appraiser compared an attached townhouse to the subject, which is detached. There was no need for that since there were many detached comps nearby.
- The appraiser said the market was stable and used the 1004MC with 10 comps to back it up. But the market is actually growing at about 7-9% a year.
- All the adjustments were made up. No explanation of how they came up with them.
- The source of Cost Data was APPR FAMILRAITY W/COSTS & DISC.W/BLDRS. What does that even mean?
- He said he followed ANZI, but the sketch showed he didn't.
- No Summary of the Highest and Best use
- Used different fonts and caps locks randomly.
This appraiser came from far away, which is weird since there are a lot of appraisers in the subject's area. Maybe the AMC used their favorite appraiser to hit the target (which he did), or he was the cheapest one they could find. Anyway, the User was happy, and that's what counts.
- The site's size was wrong by more than 1,000 SQ FT
- The zoning was not right different designation. The subject is legal-nonconforming.
- The appraiser used comps from outside the neighborhood when there were enough comps inside. The comp selection was awful.
- The appraiser compared an attached townhouse to the subject, which is detached. There was no need for that since there were many detached comps nearby.
- The appraiser said the market was stable and used the 1004MC with 10 comps to back it up. But the market is actually growing at about 7-9% a year.
- All the adjustments were made up. No explanation of how they came up with them.
- The source of Cost Data was APPR FAMILRAITY W/COSTS & DISC.W/BLDRS. What does that even mean?
- He said he followed ANZI, but the sketch showed he didn't.
- No Summary of the Highest and Best use
- Used different fonts and caps locks randomly.
This appraiser came from far away, which is weird since there are a lot of appraisers in the subject's area. Maybe the AMC used their favorite appraiser to hit the target (which he did), or he was the cheapest one they could find. Anyway, the User was happy, and that's what counts.
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