What Do To With A Review Issue???

[Scott Radin]

Ok this is what I am faced with and I need input.


I have a client who wanted me to do a land appraisal and gave me a prior report on the same property that was done by someone else.

I was not asked to do a review but of course I had to look..

OMG

This report is amazing...

First off not compliant with the new USPAP 2006 changes (he departs and uses a limited report)

Not so bad yet right?

He used three comps all of which are newley constructed SFR NOT LAND sales. I have the MLS which shows the new house pictures.

And just for fun this is a purchase (of course no comments from him on that just a sales price) for $90,000.00 and he appraised for $353,000.00


Other issues but I am not doing the review.

I called him as a fellow concerned appraiser to ask about the report.

He said he got comps from title and they gave him the wrong plat maps so he took the wrong prictures.

(no MLS no data sources of his own ????)

The best one of all is he said he did not do the report his associate did and he signed it.....OMG

He said he would redo the report.

What should I do with this???

Any advice???


THANKS In Advance

 

[joe huffman]

Turn him in

 

[Scott Radin]

CA sucks...if I send it in I have to do a revew on it to tell them whats wrong and then it goes to the bottom of the pile to be looked at NEVER.

I did that a few years ago and got a final responce three years later...(no bs)

If a MB or lender sends it in they look at it quicker....

He commited fraud.....plain and simple

 

[Jim Onderisin]

I'm looking at another that I'll send to the state in time. 2-Unit building. 4 out of 5 comparables are 3-unit buildings.

 

[Webbed Feet]

Mr. Radin,

A) Why did you call the appraiser?
B) CA will not accept an anonymous complaint?

Why do you have to "Review" it to file a complaint? A board complaint does not require a USPAP review.

Barry Dayton

 

[Otis Key]

Scott, I agree with Barry Dayton. You don't have to do a SR3 review. Just send it in with your complaint and let the state do their job. My first complaint took 4 years to get "taken care of" so I wouldn't worry about it too much. In fact, I believe that the states are under "the big thumb" to get complaints "resolved" in less than 3 years and in fact more in the two year time span.

I would strongly encourage you to turn it in if you honestly feel it was "fraud". However, I also question as to why you called the other appraiser.

 

[Scott Radin]

I called the appraiser to hear what he had to say. I though this was a very serious issue and he should be able to explain himself before I decided what to do. (why not give him a chance to defend himself, which he did not)

I dont know of any issue that would not allow me to call him. (correct me if I am wrong).

CA does not take anonymous complaints.

I have filed with the state before, I know I dont have to sr3 review but have to go thru and highlight all the issues.

My issue is here in CA from what I have heard they dont take complaints from other appraisers like they would from lenders... ect.

I think this appraisal is prue fraud and wish there was a way for them to look at this in a timely manner and not 2 years....


I will send it in...

 

[hastalavista]

I'm going with Barry & Otis.
To my knowledge, you do not have to send in an SR-3 review to make a compliant; just summarize the situation (in fact, I would specifically state you did not complete an SR-3 review and are making no comment on the quality of the report or its value opinion, but are pointing out discrepancies that you feel warrant a review from the proper authorities).

As to waiting three years, I know exactly how you feel.
I filed a complaint 2-years ago (in August/2004) and received my letter of acknowledgment in 10/4. I finally had someone tell me (last month) that the investigation had been completed, and a recommendation had been to the superiors for final disposition (what that will be, I have no idea). I was told once action was taken and finalized, I'll get a letter (which may or may not tell me what happened).
BTW, my scenario was far worse than yours, if you can believe that!

 

[Scott Radin]

do you think that I should add the fact the appraiser told me he did not do the inspection and an assoicate did ? (im guessing yes)

 

[Otis Key]

It might be considered as "hear say" but I don't see a reason to not add it. I add as much details as possible to my complaints. I provide the MLS sheets, many with the details of the falsified data circled, as well as clean printouts. I also detail what I know that is wrong with the report and indicate if I have or have not done a SR-3 review. If I have, then it's included with the complaint --- makes the process go faster (just an idea).