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re: Am I being taken? Real estate question
Posted on 3/30/13 at 5:31 pm to Poodlebrain
Posted on 3/30/13 at 5:31 pm to Poodlebrain
quote:
I would ask the licensing board for appraisers if the appraiser has a conflict of interests. You'd be surprised how seriously licensing boards take inquiries about ethical issues that could discredit the profession.
This, unfortunately, will have no baring on this sellers sale. The bank orders the appraisal not the buyer (unless its a cash sale with no mortgage). Furthermore, this buyer will be tainted.
Even if the seller screamed bloody murder and got the value changed.....the buyer will see it as just that further creating buyers remorse.
Its a flawed process but it is the one we have.
Again, if the seller is not please he can choose not to sell it for the appraised value. Only once in 10 years have i seen a buyer pay more than the appraised value. And that was 3k.
This post was edited on 3/30/13 at 5:34 pm
2
Posted on 3/30/13 at 5:37 pm to MoreOrLes
What does the tax appraisers website say ? It should have the official footage listed because its what you are getting taxed on. If you added on and didn't pull a permit or tell the tax appraisers office then it doesn't count and your screwed. Ask your tax appraiser and not some douchebag independent appraiser.
Posted on 3/30/13 at 10:55 pm to MoreOrLes
quote:The licensing board will want to know if the appraiser was aware of who the buyer is. Any personal relationship between the buyer and the appraiser will effect the confidence of the bank, the seller and the public in general with respect to the impartiality, and independence, of appraisers. That is not good for the profession.
The bank orders the appraisal not the buyer (unless its a cash sale with no mortgage). Furthermore, this buyer will be tainted.
The bottom line is that the appraiser should have removed himself from the project if he was aware the appraisal was for use by a person with whom he had a raltionship that could give the impression of a conflict of interests.
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