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Where can I send this

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Tony V

Thread Starter
Elite Member
Joined
Mar 29, 2005
Professional Status
Certified Residential Appraiser
State
New York
So I have an appraisal sitting on my CPU..

It was sent by one of the firms that I do split fee work for..

I am doing the 2nd appraisal on it.

Sale for $1.75 m loan amount $1.55 m

I look at the sent appraisal for S&G...hmmmmm

the appraiser has a Lic # of 470000.........

Thoughts???
 

Eli Weiss

Senior Member
Joined
Nov 28, 2005
Professional Status
Certified Residential Appraiser
State
New York
The appraisal is not the problem I think....
The problem is using it in a Federally Related Transaction....
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
No Supervisory Sig? check your pm
 
Last edited:

Tony V

Thread Starter
Elite Member
Joined
Mar 29, 2005
Professional Status
Certified Residential Appraiser
State
New York
only sig on left...no super...PM thanks
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
loan amount $1.55 m - clear cut violation of USPAP and NYS Exec Law 6E
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
Call me asap.

"Houston we have a problem"
 

Glenn Redo

Sophomore Member
Joined
Dec 14, 2005
Professional Status
Certified Residential Appraiser
State
New York
Only you T

Tony you seem to get a lot of these. I had to deal with all of that as you know for a few years but mainly doing purchases and city work now. The state is going to love you and also watch you too, but this industry is starting to get cleaner:new_snipersmilie: .
 

Tony V

Thread Starter
Elite Member
Joined
Mar 29, 2005
Professional Status
Certified Residential Appraiser
State
New York
Tony you seem to get a lot of these. I had to deal with all of that as you know for a few years but mainly doing purchases and city work now. The state is going to love you and also watch you too, but this industry is starting to get cleaner:new_snipersmilie: .

Well I got a couple of PM's from a couple of RA's interested in the info...so these folks are watching....
 

CHAIM

Freshman Member
Joined
Jun 19, 2007
Professional Status
Certified Residential Appraiser
State
New York
The appraisal is not the problem I think....
The problem is using it in a Federally Related Transaction....


Think again,
If that appraiser is only licensed and not certified, then he is not competent to appraise this complex property since its above 1 million value, then its a violation of USPAP, no?

Chaim
 

Eli Weiss

Senior Member
Joined
Nov 28, 2005
Professional Status
Certified Residential Appraiser
State
New York
Chaim, No, value is not connected to complexity, you can have a none complex townhouse in Brooklyn, and you can have a $50,000 complex rural appraiser. The USPAP guidelines are based on the loan amount and not the value, a licensed appraiser can do a over a million dollar appraisal as long as it is not used on a loan that is over a million, in the above case the loan was over a million, the question is if that appraiser was aware of that, and if the client has to disclose the loan amount to the appraiser, I rarely get the loan amount information.
 
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