• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

U/W wants appraiser "on the hook"

Status
Not open for further replies.

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
m2: Venting
< Sigh > Following request from an AMC
"The client would like you to address the foundation of the property in your report.
There is notation that you detected dampness in the basement.
Though you are no expert on structural integrity of a home could you at least please comment
that though there is dampness in the basement and as you commented this is common in this area.
You are not advising that this will affect the foundation of the home thus requiring an inspection.
Since that is not your area of expertise."

Appraisal was made "AS-IS".
Nothing unusual about the house / structure, or it's French Drain, or the Sump Pump.
- Dampness was noted in basement, & I noted that it appeared adequately controlled by French Drain & Sump Pump. Damp basements common in his area - why else was house outfitted with French Drains & Sump Pump?? Even gave 'em pictures.

Inexperienced U/W
((?? or an U/W all too experienced with Mr. Skip ?? ))
unnerved by someone actually noting dampness in basement, but apparently unwilling to order an inspection.

For fun value, I quoted them chapter and verse:
5. The appraiser has noted......Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property.....
2. I performed a complete visual inspection of the interior....
15. I have not knowingly withheld any significant information...


You remember.... all those Assumptions, Certifications and Limiting Conditions in the 1004.


Then advised them (yet again) that structural certification was not
within the scope of my training, expertise, and ability, and that if the
U/W had concerns about the foundation, the U/W was strongly urged to
get a suitable professional to inspect & render an opinion.

Sorry, had to vent. I'm getting much too old for this crud.
 
I loathe stips like that. No way to back off on stuff like that, it is there, and it needs to be mentioned. Whatever the underlying this or that may be, who knows, I don't care, let them send out an expert if they care so much.

Dave...
 
I got stipp today for a new front subject photo because they can not see the complete drivewaym2:
 
I had one several months back requesting "Appraiser to investigate and explain the lien on Comp 2."
 
I had one several months back requesting "Appraiser to investigate and explain the lien on Comp 2."

Cripes... !! that request actually makes me feel better.

Did you tell them it that Comp 2 was just trying to look like the Tower of Pisa?
 
Riick,

I think I would have made the appraisal subject to an inspection. That way the lender would have known they need to get an inspection.
 
Say what? An inspection for a lien? A lien is evidence of a loan. How would you inspect that?
 
I had one several months back requesting "Appraiser to investigate and explain the lien on Comp 2."


And my reply would have been:

Dear Mr. Lender,

Perhaps you can share with me what your concern regarding Comparable 2 is, and exactly what the lien has to do with our subject property. What might we be accomplishing here??

The scope of our appraisal assignment does not in title services.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Back
Top