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What would my peers do?

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SANDY

Senior Member
Joined
May 17, 2007
Professional Status
Appraiser Trainee
State
Florida
We are working on oceanfront home-Have 3 sales that price and concessions can be confirmed and 2 active listings. Problem is we also have 3 supposed closed sales confirmed only in MLS but have not yet been recorded with clerk of the court which is our usual secondary confirmation source for price. Realtor of record says title company accidently recorded the sales in Orange County and is in process of correcting their mistake. Realtor says no concessions on the sales and typical arm's length transactions. Trying to get title company's phone number to try to confirm sales price verbally and maybe get HUD statements.

What would you folks do? Would you write it all up and let the report go out? Of course client is screeming for the report and there supposedely is a second appraisal being done.

PS- I realize it may be hard to advise without all of the details but any help would be appreciated.
 

Louis Pompeo

Member
Joined
Nov 23, 2007
Professional Status
Certified General Appraiser
State
Mariana Islands
Write it up and state the steps that you took to confirm the sale. (Include name and phone # of realtor)
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
We are working on oceanfront home-Have 3 sales that price and concessions can be confirmed and 2 active listings. Problem is we also have 3 supposed closed sales confirmed only in MLS but have not yet been recorded with clerk of the court which is our usual secondary confirmation source for price. Realtor of record says title company accidently recorded the sales in Orange County and is in process of correcting their mistake. Realtor says no concessions on the sales and typical arm's length transactions. Trying to get title company's phone number to try to confirm sales price verbally and maybe get HUD statements.

What would you folks do? Would you write it all up and let the report go out? Of course client is screeming for the report and there supposedely is a second appraisal being done.

PS- I realize it may be hard to advise without all of the details but any help would be appreciated.

Put the confirmed sales in the grid and narrate the MLS verified sales in the addendum.
 

The Warrior Monk

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
In a case like this I would recommend confirming the sales with the attorneys involved. The realtor should have the info. It wouldn't hurt to also confirm with buyer and seller. Also, take copious notes...make sure you note the person you spoke to, when you spoke to them, and what they said. You don't necessarily have to put all the detail in the report, but I've heard enough stories from reliable sources where the appraiser was set up. The appraiser saved their hide because of the detailed note-taking.
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
I'd put the MLS number as my source and then as my secondary source I'd write "Agent Verified" and down below state the steps I took. You can knock on doors when inspecting the comps from the outside too.
 

SANDY

Senior Member
Joined
May 17, 2007
Professional Status
Appraiser Trainee
State
Florida
Thanks everyone-will check back after next inspection we do-gotta go now boss is impatient.
 

c w d

Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
I'd stick my head in the sand, cover my ears with my hands and yell lalalalalalala until it went away.

.....no really, everyone here has pretty much covered it. Just one more thing....someone should be able to provide you a copy of the recently signed deeds if you really want to be sure. I like Pam's suggestion. The OC clerk of courts could save you a lot of hand wringing.
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
Sandy,

I think it is great that your mentor has taught you to get two confirmations of sales. There are a lot of appraisers who do not get anything but MLS. Kudos to you and your mentor.
 

SANDY

Senior Member
Joined
May 17, 2007
Professional Status
Appraiser Trainee
State
Florida
Pam:

We tried orange county comproller web site but the name of the current owner(buyer) is the only way to search. Maybe the realtor will provide the buyers names or come up with the HUD statements. It just sounds fishy to me-how in the heck can a sale be recorded in the wrong county? Maybe it has happened to some others on the forum but it just gets my radar up and running and my suspicion is on high alert. Although the 3 sales in question seem to fall in line with the confirmed sales.
 
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