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?

[Zoe]

Advice when you get one like this walk quickly and end it. This is more to this than Qaulity Control this is most definitely a serious one . Next time before you get in too deep make contact and tell them it appears this will become "Forensic " in nature because nothing makes any sense. Those are $1,000 to $1,500 reviews where you are now looking at a crime scene not a car wreck.

Exactly. The heading of this post spells trouble for the OP.

 

[Zoe]

One of the questions that always comes to my mind is whether or not the appraisal in front of me was what was submitted by the original appraiser, and whether the original appraiser is the same individual whose name/signature appear in the report. I've seen altered reports before.

I'm not suggesting this is the case for the appraisal report we're talking about in this thread, but that is another good reason to limit the commentary to the workproduct itself. One *other* reason to stick to what you have in front of you and refrain from commenting on what the appraiser did/didn't do is that the report only shows what the appraiser reported, not necessarily what they developed. They're usually one and the same but a reviewer can't necessarily prove they're one and the same.

And not to get more pedantic than I normally do, but getting mad at an appraiser and allowing it to seep into your review work is like getting mad at a property owner or a client or a property and allowing that to seep into your work. If you can't maintain your personal dispassion with what you're doing in this assignment then you should withdraw from the assignment. You can be annoyed at the individual AFTER you've submitted the impartial and unbiased workproduct.

The role of appraisal review is not inherently adversarial any more than would be the case if you were appraising the property itself. We do observe and report, not search and destroy. Parts is parts.

Exactly, we can hammer it home dog, but the OP has to listen. If the OP was not licensed, it would be different. The OP is inviting trouble. The OP is acting as an appraiser. They are performing an appraisal.

 

[George Hatch]

All he has to do is proceed on the objective and dispassionate basis. If he sticks to the facts there's nothing to argue about.

 

[Zoe]

Let's jump back. The OP would be better off declining the appraisal review and performing a new appraisal with new effective date. That would likely be my move. I think the OP already did a new appraisal. So the OP is already in trouble.

 

[Zoe]

Point blank. Did you provide new opinion of value to your client as a licensed professional? Yes or No?

 

[J Grant]

Once you Opine a New or Different Opinion Of Value You have now done a Appraisal . No your work-file better be pristine specially if you plan on filing Complaints with State Boards . Now they often have two Appraisals to review the Original one and the Review . Thats why I recommend to not file complaints and allow the Lender/ Client and their legal council to make that judgement call.

Actually, in a review, if you agree with the OA value you have also done an appraisal !!

Because a value opinion can be a benchmark - agreeing with the OA value $ number is the benchmark

The work file should be the same or similar whether you agree with the value or not -because how can you tell if you agree with their value unless you run data and comps to see if there were alternate comps that were better or excluded?

 

[Zoe]

Actually, in a review, if you agree with the OA value you have also done an appraisal !!

Because a value opinion can be a benchmark - agreeing with the OA value $ number is the benchmark

The work file should be the same or similar whether you agree with the value or not -because how can you tell if you agree with their value unless you run data and comps to see if there were alternate comps that were better or excluded?

And then you have new effective date and SOW. The name of this post tells me OP needs to ask client if they can do new assignment and forget review. I say that. If VA is the client, I might change my mind.

 

[George Hatch]

No you don't have a new effective date. Just because a reviewer thinks the value was reasonable as of that previous (effective) date doesn't mean they think it's reasonable as of a more recent review (report) date.

 

[Zoe]

Okay, how can a professional appraiser review a VA or FHA appraisal if they are not approved to perform either type appraisal? Okay, competence comes into play. It's just too deep on this one. How do we know reviewer is using best comps without reasoning and analysis?

It would just be easier to do new appraisal whether conventional, FHA, VA or whatever.

 

[glenn walker]

Reviewing a airplane crash may take months of expert and forensic analysis . Reviewing a typical car crash may take a few hours or less. Most reviews are like minor fender benders or no crash at all. BUT that Elephant hits about every five years or every 500 Reviews where you spend one hour shaking your head and say how could I even Opine a New Value when I cannot even depend on what the appraiser reported to be inside the property, its correct physical condition or maybe not even the Subject property. I had one Field Review years ago where the appraisal had been completed using another entirely different home. I had one where a guy moved a raised foundation home and moved it to another property in another part of town.

My Point Is without a Clear Engagement of what the assignment is for once I get one of these nightmares now I am suspect as I have been given a assignment with no idea what i am looking for and like Hell I am going to try to arrive at a New Opinion of Value. That place may be a Empty Shell Inside.

No VA appraiser is going to be this bad unless him and someone else had colluded to make a deal work. Maybe a straw buyer and a Cash out the back door . I have no idea but usually these types of events rare but two or three parties involved. On A VA the report is reviewed by the VA Endorsed Underwriter and most no sloppy when they see it so normally only a very well Prepared VA report done to look like Good Qaulity would have past the first chain of command.. If sloppy the ( SAR ) would look at it and if real bad it would be pulled and sent to The VA Appraisers RLC with comments that concerns about some serious issues going on.

FOR THIS Train Wreck-you never know but I have no doubt the Client who funded or holds the loan has a very good bet one what has happend. Sorry Airline Crash not a scratched door or a minor ding. Bring in the Cavelery and you are not paying me enought to give a new opinion of vlaue.

Actually, in a review, if you agree with the OA value you have also done an appraisal !!

Because a value opinion can be a benchmark - agreeing with the OA value $ number is the benchmark

The work file should be the same or similar whether you agree with the value or not -because how can you tell if you agree with their value unless you run data and comps to see if there were alternate comps that were better or excluded?

Actually, in a review, if you agree with the OA value you have also done an appraisal !!

Because a value opinion can be a benchmark - agreeing with the OA value $ number is the benchmark

The work file should be the same or similar whether you agree with the value or not -because how can you tell if you agree with their value unless you run data and comps to see if there were alternate comps that were better or excluded?

Just Say No