When the price is wrong

[Mike Kennedy]

I'm reviewing an appraisal right now that I think the assessed values could be a good indicator that something is wrong.

Subject: Assessed value $230,500

Comp 1: AV $356,500 sold for $350,000
Comp 2: AV $325,400 sold for $375,000
Comp 3: AV $352,900 sold for $385,000
Comp 4: AV $318,200 sold for $380,000

Like Mike said, its just one more bit of information. I KNOW assessed vlaue does not equal market value, but you think the client that ordered review might like to know the above?

In most mortgage lending cases, they already know before you get the Review Assignment or tell them.