| Author |
Previous Topic | Next Topic |
|
egamarro
79 Posts |
 Posted - 01/09/2008 : 4:22:42 PM
|
| Ive been getting weird feed back from NV appraisal companies I have sent a few comparable check requests to a few appraisers that I was working with a few months ago for a few properties I have going in NV they have replied to the effect of it being illegal to provide comps without going to the physical property, has anyone out there expirienced this? or does someone know an appraiser I can call in NV to get a comp? |
|
Truett Neathery
22 Posts |
Posted - 01/28/2008 : 10:16:24 AM
|
Appraisers who provide "Comp. Searches" without viewing the subject and without starting a work file are actually doing an appraisal, and can be prosecuted, forced to pay a fine, take classes, etc.
This is not a new requirement, perhaps the folks who used to do free comp. chex are no longer licenced. When someone turns you down, have them send you a copy of the Advisory OPinion that relates to Comp. Chex, or you could look it up yourself by googling USPAP.
The reason there are so many repos is that many loans were made using the method you do. Check with ZILLOW, then order an appraisal. Your comps will be right there on the 1004 on page 2. Or, you can ask for a "Consultancy" with the appraiser who, for a fee, can send you a list of the sales in the subject's neighborhood and you can decide for yourself. If he sends a copy off the MLS, he may be in violation of the MLS's copyright and could loose access. You could also look these up on the publec record by calling the title company you do business with. Of course, they will want you to reciprocate with some title orders from time to time.
TN
|
|
|
| |
Previous Topic | Next Topic |
|
|
|
Search for: 
