Alan Simmons
Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Alabama
I still want to know if a bad Reviewer can be sued for liable if it cost you business.
A few months back I received a rather scathing review. While initially reading the letter I thought I had really dropped the ball. I was ready to turn myself in to the State. The Reviewer only had two concerns but they were so egregious that he had seriously questioned my conclusions and of course my opinion of value.
The subject was a new 1500 S/F brick house (3 months old at the time of the review) in one of the many new subdivision on the edge of town.
The first concern (requiring a great deal of condemnation from the Reviewer) was that the subject did not have a garage (true). My report had indicated the existence of an attached two-car side entry garage (true). I found it quite telling that the Reviewer did not know the garage DID exist at the time of my appraisal. It is funny how the criticism in the review can actually be applied to the Reviewer’s lack of investigation. My guess is that the Reviewer now has an excuse as to why he should not be held to the same standard to which he wanted to hold me.
[My rear photograph clearly showed the garage at the time of my inspection. I had even included a friendly note on page 3 of the URAR that the buyers were going to inclosing the garage after the closing.]
The second concern was my $S/F. This seems to be a canned observation in all reviews. Every Reviewer seen to have their favorite method for appraising and everyone else is WRONG. I guess it did not matter that comparables 2 and 3 did not have any adjustments at all and that comparables 1 and 4 only had $S/F adjustments (comp 1 +$5000, comp 4 - $5000). I am still VERY confused as to how not using half of the cost of construction new for the $S/F adjustment “greatly inflated the value of the subject.”
[I used four comparables because half of this small subdivision falls in another school district]
Granted, I only become aware of the reviews when they raise concerns (as above). This probably accounts for most of my apprehension, but I think there are too many unqualified Appraisers who appoint themselves as sheriffs. As they say, a little information is a dangerous thing.
A few months back I received a rather scathing review. While initially reading the letter I thought I had really dropped the ball. I was ready to turn myself in to the State. The Reviewer only had two concerns but they were so egregious that he had seriously questioned my conclusions and of course my opinion of value.
The subject was a new 1500 S/F brick house (3 months old at the time of the review) in one of the many new subdivision on the edge of town.
The first concern (requiring a great deal of condemnation from the Reviewer) was that the subject did not have a garage (true). My report had indicated the existence of an attached two-car side entry garage (true). I found it quite telling that the Reviewer did not know the garage DID exist at the time of my appraisal. It is funny how the criticism in the review can actually be applied to the Reviewer’s lack of investigation. My guess is that the Reviewer now has an excuse as to why he should not be held to the same standard to which he wanted to hold me.
[My rear photograph clearly showed the garage at the time of my inspection. I had even included a friendly note on page 3 of the URAR that the buyers were going to inclosing the garage after the closing.]
The second concern was my $S/F. This seems to be a canned observation in all reviews. Every Reviewer seen to have their favorite method for appraising and everyone else is WRONG. I guess it did not matter that comparables 2 and 3 did not have any adjustments at all and that comparables 1 and 4 only had $S/F adjustments (comp 1 +$5000, comp 4 - $5000). I am still VERY confused as to how not using half of the cost of construction new for the $S/F adjustment “greatly inflated the value of the subject.”
[I used four comparables because half of this small subdivision falls in another school district]
Granted, I only become aware of the reviews when they raise concerns (as above). This probably accounts for most of my apprehension, but I think there are too many unqualified Appraisers who appoint themselves as sheriffs. As they say, a little information is a dangerous thing.
