How much can a real estate appraiser hurt someones sale when he wants to get some personal revenge ?
2007-10-27 10:19:26 · 7 answers · asked by oldlady 1 in Business & Finance ➔ Renting & Real Estate
I dated this appraiser and he seems to be a bit disturbed emotionally .
2007-10-27 10:41:24 · update #1
If that person appraises a property incorrectly (on purpose) the lender may ask for another appraisal. If it differs significantly, s/he will have to answer to their state's Appraisal Board. The comps (comparable properties) is what is used to assist.
Realtors have no pull with appraisers. Well, the honest Realtors have no pull with honest Appraisers. It's awful that I have to qualify that, however, there is so much nonsense going on in the housing industry now, that few people are exempt from ridicule.
2007-10-27 12:38:47 · answer #1 · answered by Venita Peyton 6 · 0⤊ 0⤋
A real appraiser is a licensed professional and as such needs to turn back a job when there is a conflict of interest. A real estate appraiser relies on the sold similar properties to use to compare to the one being appraised, and there is only so much of a range that they can appraise a house within and be reasonable. If you suspect that personal revenge is involved in "killing the deal" then report the appraiser to the licensing bureau....but you should ask for a copy of the appraisal first. If the bank paid for it, the appraiser can charge you for a copy. But the report should clearly explain how the price was determined.
2007-10-27 10:29:07 · answer #2 · answered by wawawebis 6 · 1⤊ 0⤋
Only if he wants to lose his license.
No Realtor is obligated to use a particular appraiser, considering the BANK orders the appraisal.
The Realtor generally doesn't have a say in who they use, but they can have an objection and demand that another appraiser be selected.
2007-10-27 12:04:35 · answer #3 · answered by Expert8675309 7 · 0⤊ 0⤋
A appraiser has no pull with realtors or lenders and must follow USPAP and federal guide lines on every appraisal and all major lenders are reviewing 95% of all appraisals, due to the amout of frad and forclosures going on. It would be really stupid for him to even try to pull anything funny. He could lose his license and be fined or go to jail.
Just don't let him do the appraisal.
2007-10-27 12:13:48 · answer #4 · answered by Leo F 4 · 0⤊ 0⤋
As long as he doesn't do the appraisal on the property you are buying or selling, he has no sway whatsoever. If you should be involved in a transaction and see his name on the appraisal, raise the BS flag and demand another appraisal as there would be clear conflict of interest otherwise.
2007-10-27 11:13:00 · answer #5 · answered by Bostonian In MO 7 · 1⤊ 0⤋
ok, Comps.. while the Realtor pulled your comps she/he inputted a community, pictures, and all impertinent coaching into the laptop. the area we could say (405) generated10 residences that rather matched your place with recent sales, expired listings, contingent sales,ands different coaching. you are able to ask a million FDR your sources yet that would not propose your going to get it. As a Realtor 25miles isn't uncommon yet i don't be attentive to the place you reside so I have no concept as to what your demographic are. the two way, the imputed coaching could desire to have given her a commonplace concept as to how plenty you are able to generate to your sources. It looks such as you do not have confidence the agent so my ultimate propose if it quite is the case bypass with yet another agent yet oftentimes the agent pretty plenty is familiar with what the home is nicely worth. the single mile component suggested in previous answer is utilized by utilising appraisers not genuine sources brokers.
2016-09-28 00:04:05 · answer #6 · answered by haslam 4 · 0⤊ 0⤋
if this particular appraiser has a vendetta, simply get another one. he/she can only hurt the sale by causing a delay and all property assessment can be contested.
2007-10-27 10:33:38 · answer #7 · answered by Arr 3 · 0⤊ 0⤋