This has me baffled. What am I missing ?

[Ms. Janet]

Raimo,
What did he say about the prior transfers?

 

[Richard Carlsen]

The person who paid for the appraisal called me within an hour after I submitted the appraisal to the bank. He was furious that I didn't appraise the house for the selling price. I told him that I cannot discuss the appraisal with him, but he brought up the fact that I'd included prior sales in the report which were not really sales.

Good example on why not to speculate or guess about what was going on with prior sales. If these are in the public records; so be it. You were not provided any information on them and it is beyond the scope of work to investigate. Besides, prior sales have no bearing on the present value. Listing and commenting on what you know is a Supplemental Standard that must be addressed. Tell him that the information contained in the report concerns the lender, he can explain it to the lenders UW. It does not effect your opinion of value one iota.

 

[Jungle Boy]

Marcia
thanks, that's what I thought.

Janet
he claims that because the 2 transfers of $900,000 were not really sales, then the $1.2m sale could be time adjusted to produce the current sale price value.
I did not want to discuss anything with him since he is not my client (although prior to the bank faxing me the request, he was a potential client), so I said I'd look into it.

Richard
I agree, the prior sales do not affect the present value one iota.

This guy had an explanation as to why the 2 lower sales should be taken out of the sales history, and I told him I'd look into it and would revise the appraisal if necessary.

I won't be doing any revising.

 

[Wendy]

Raimo,

Out of curiosity, I would look up the individuals involved in the "fruit" companies on sunbiz.org. Wonder if they match any of the other names involved?

 

[Jungle Boy]

Wendy
the buyer on the contract is the Pres of Orange Ent.

The interesting thing is that the Pres of (Inactive) Banana Ent as also the VP of Orange Ent.



Edit : no edit needed after all.

 

[Jungle Boy]

this is so shady that I'm printing out my appraisal, and sending it to a very trusted cert appraiser for safekeeping. It will be posted marked.

 

[Wendy]

Smart move.

I would also disclose in the report who was part of what company. Don't go into a big discussion - just list the facts.

 

[Ms. Janet]

this is so shady that I'm printing out my appraisal, and sending it to a very trusted cert appraiser for safekeeping. It will be posted marked.

that was funny, but, this is even funnier.......

Smart move.

you just can't be too careful anymore.............:icon_eyecrazy:

:new_rofl: :new_rofl:

 

[Wendy]

Janet,
Huh?

My thought was that if Raimo thinks his report may potentially be altered by the client, taking a few seconds to secure a true copy might not be a bad idea.