Update:
All four comps that were used were fraudulent. I was able to locate all of the pictures he took, and none of those homes sold when he said they did or for the amount he stated. Also, the sold price and sold date he used did not match up with ANY home in the county. 8O
Conclusion: He drove around the subject area and found homes that were similar to the subject, and made up all the data for them, sales price, sales date, sq footage, etc.. The appraiser even included the deed book and page on all the sales, when I researched those, I found the following. The first book and page was a contract for deed for a small house in a town 6-8 miles south of the subject, the second book and page was a quit claim deed, and the last book and page was the signature page of a mortgage. :roll:
As kooky as all this is, the part that surprised me was he undershot the value by $8,000! :!: :?:
I see fraudulent appraisals every now and then, and I suspect, its an appraiser who can't reach a value, so he/she makes up comps to hit the number, this is the first time I have ever come across this kind of thing.
Tony