This VA appraisal I'm reviewing is one of the worst I've read. Is there any way I can report this to the VA?

[JeffSH]

The Worst were what we called the Review Zealots who believed their calling in life was to get any and all bad appraisers off the streets. The funny part is we often reviewed their reviews sometimes just for fun and they were as bad or worse then the original appraisers who they were recommending being turned into the State Boards.

Appraisers like this should not be doing valuation work. I'm sorry. But what point are you even trying to make? The profession must accept bad appraisers as the cost of doing business?

Only one time have I actually submitted an appraisal to the state. 2,500 sf proposed new construction ranch in the middle of nowhere, with a $2 million construction cost. I have absolutely no idea where the money was going. The land was worth no more than $150k. The appraiser HIT CONSTRUCTION COST by not adjusting for location, not adjusting for lot size difference, not adjusting for finished vs unfinished basement, not adjusting for bathroom/bedroom differences, and adjusting GLA at $10 per square foot.

Of course the state did absolutely nothing to educate or reprimand the appraiser. No strike. No problem according to the state. Have you not seen an appraisal like this? You don't think they sulley our reputations? Don't you want these people out of the profession?

I would never tell a client they should remove someone from the panel. That's insane. But the client needs to be informed of just how bad the report actually is.

 

[JeffSH]

Stick to the assignment conditions and hopefully your review will not possess any USPAP violations of its own.

Hopefully? WTF. I don't violate USPAP. My appraisals are high quality.

While getting comp photos I also learned that one of the sales is located across the street from a busy automotive shop that was making loud grinding noises. This appraisal is GARBAGE. Why would you worry about the quality of my review?

 

[Zoe]

This makes absolutely no sense. Banks hire us for our opinions. The bank cannot think the report is objectively bad until we tell them so. It's my job to review this appraisal. Why wouldn't I fully elaborate? Just giving the client a list of factual differences and a new sales grid is lazy. I make similar statements when I review good appraisals.

"The appraisal quality is above average. The analysis is well detailed and consistent. The comparable selection is good. Etc"

I wouldn't go relative to average on any opinions on the other appraiser's work. I do have a question. Did you form an opinion of value in this review? If you did, then you did an appraisal on the property.

 

[Zoe]

Okay, here is my point, If you did appraisal on property, then any complaint to a state board will review both your appraisal and the OA. OA should be able to file complaint against you if you varied from USPAP in any way form or fashiion.

 

[JeffSH]

I wouldn't go relative to average on any opinions. I do have a question. Did you form an opinion of value in this review? If you did, then you did an appraisal on the property.

I will not be using the word average from now on. That definitely makes sense. I will still say that the appraisal is low quality. That's a statement of fact.

Yes, I am giving my own appraisal so in a way that does give them everything they need.

 

[JeffSH]

Okay, here is my point, If you did appraisal on property, then any complaint to a state board will review both your appraisal and the OA.

Why is this a problem? Do appraisers not trust their own work?

 

[glenn walker]

Appraisers like this should not be doing valuation work. I'm sorry. But what point are you even trying to make? The profession must accept bad appraisers as the cost of doing business?

Only one time have I actually submitted an appraisal to the state. 2,500 sf proposed new construction ranch in the middle of nowhere, with a $2 million construction cost. I have absolutely no idea where the money was going. The land was worth no more than $150k. The appraiser HIT CONSTRUCTION COST by not adjusting for location, not adjusting for lot size difference, not adjusting for finished vs unfinished basement, not adjusting for bathroom/bedroom differences, and adjusting GLA at $10 per square foot.

Of course the state did absolutely nothing to educate or reprimand the appraiser. No strike. No problem according to the state.

Have you not seen an appraisal like this? You don't think they sulley our reputations? Don't you want these people out of the profession?

I would never tell a client they should remove someone from the panel. That's insane. But the client needs to be informed just how bad the report actually is.

Hopefully? WTF. I don't violate USPAP. My appraisals are high quality.

While getting comp photos I also learned that one of the sales is located across the street from a busy automotive shop that was making loud grinding noises. This appraisal is GARBAGE. Why would you worry about the quality of my review?

I am jerking your chain a little I'm sure you are a good reviewer but your Post Head Line was "One of the worst I have ever read " That kind of statement kinda threw me back as having literally revised hundreds maybe well over a thousand I have seen some REO really bad can be just a sloppy POS appraisals numerous errors . We saw lot of POS VA Appraisals as they had no training program and no matter how bad one was the Appraisers VA RLS Center backed him up 90% of the time. So lenders gave up and since the Loans are Insured the attitude became F-It they do wont discipline him anyway so fund that bad boy and be done. I hope the newer VA appraisers are being trained and there reports reviewed and their is some accountability. I dont now Im no longer working for a lender that did VA loans.

 

[Zoe]

The best defense against a libel or slander claim is to limit the appraisal review to the actual report. Typically, reviews should limited to the report content, not the appraiser.

Example: Rather than saying/writing, "The appraiser did not apply time adjustments..." say/write, "The adjustment grid in the appraisal report contains no adjustments for date of sale....."

And then the reviewer needs to be able to back it up in their work file because they are getting real close to doing an actual appraisal on the subject.

I totally agree Danny.

 

[JeffSH]

I am jerking your chain a little I'm sure you are a good reviewer but your Post Head Line was "One of the worst I have ever read " That kind of statement kinda threw me back as having literally revised hundreds maybe well over a thousand I have seen some REO really bad can be just a sloppy POS appraisals numerous errors . We saw lot of POS VA Appraisals as they had no training program and no matter how bad one was the Appraisers VA RLS Center backed him up 90% of the time. So lenders gave up and since the Loans are Insured the attitude became F-It they do wont discipline him anyway so fund that bad boy and be done. I hope the newer VA appraisers are being trained and there reports reviewed and their is some accountability. I dont now Im no longer working for a lender that did VA loans.

I'm kinda being aggressive for no reason too.

But what really annoys me is that the VA panel is a coveted position. They have strict demands, but everyone I know who does work for the VA seems to ONLY do work for the VA. You can't get on the list. I've tried. Yet somehow this guy is on the list. I would wager my life that this appraisal isn't the result of a bad day, and that most of this person's work is similarly bad. WHY ARE THEY STILL GIVEN WORK???????????

 

[Zoe]

-Subject history not analyzed. Missing sale from 2019,
-Stable market conditions indicated,
-No time adjustments (15% YOY appreciation in the market),
-No sale comp from the past 6 months,
-1 of the 3 comps went under contract over a year ago,
-No condition adjustment when comparing a newly renovated subject to a home that hasn't been touched in 20 years. Similar ages,
-$3,000 full bathroom adjustment for 1.0 vs 2.0 in the 300k-$350k price range
-$4,000 deck/patio adjustments (a deck is worth more than a bathroom??? You can use a bathroom in December LOL)
-No commentary on adjustments.
-Exposure time estimate of 180 days. Median DOM: 20. Avg DOM: 45.
----

This is for a refinance. They purchased in 2019 for $265k, and this appraiser came in at $275k in 2022. That alone shows you the appraisal is wrong, but the most recent and similar comps support $350k. It's so frustrating when I read appraisals like this. They make us all look terrible and it takes jobs away from hardworking appraisers who take their career seriously and have pride in their work.

What can I do?

This is first clue that you are biased in some way form or fashion. The heading on your post is first clue. It also indicates you have done an appraisal. If you formed an opinion of value as a licensed professional, you have done an appraisal. Okay, USPAP applies different rules if you have done an appraisal vs a simple review with you being a licensed appraiser.