- Joined
- May 2, 2002
- Professional Status
- Certified General Appraiser
- State
- Arkansas
Seems an appraiser in Tulsa who is also a State Solon, is accused of buying property that he had appraised for court foreclosure. The report calls him a "licensed appraiser" but my state list shows him to be Cert. General. The TW article is dated 9/20/2002
The Tulsa World article claims a company he owned twice purchased property at a Tulsa Co. Sheriffs sale after he had acted as the appraiser on the property.
Okla still holds to the old 3 commissioners system where 3 people knowledgeable in real estate can sign off on a value. Typically when asked to do so, I have appraised the property then got two of my subs to sign off as well. A court has been asked to vacate a sale where State Representative Stites had both bought and appraised a property.
He responded that he was not aware of what the company bought and that the appraisal was unbiased because the other two persons would have "to collude with me and set an arbitrarily low value."
ter
The Tulsa World article claims a company he owned twice purchased property at a Tulsa Co. Sheriffs sale after he had acted as the appraiser on the property.
Okla still holds to the old 3 commissioners system where 3 people knowledgeable in real estate can sign off on a value. Typically when asked to do so, I have appraised the property then got two of my subs to sign off as well. A court has been asked to vacate a sale where State Representative Stites had both bought and appraised a property.
He responded that he was not aware of what the company bought and that the appraisal was unbiased because the other two persons would have "to collude with me and set an arbitrarily low value."
ter