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re: Restraining order against bad home appraiser

Posted on 10/6/23 at 10:00 am to
Posted by meansonny
ATL
Member since Sep 2012
25999 posts
Posted on 10/6/23 at 10:00 am to
quote:

They can only go back 365 days.

They can extend on mileage if it's a rare property. They can not go back on time.


Is that a law?
I don't think it us.
If the appraiser needs additional data to bracket a value, they use whatever is necessary.
I've see 10 comps with 4 of them pending listings.
I've seen sales over 12 months in a similar fashion (note...the home would be same style, age, condition, neighborhood in a stable price environment during a market where unique high value homes with a view or unique feature do not go up for sale with regularity).

The appraiser isn't "nailing a value" any more than he/she is bracketing as tight a window as possible for the high end and low end of the current market.
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