Expert Witness AMC Order Blast & Appraiser’s Response
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AMC’s order blast for Expert Witness Appraisal Services
Before I can offer ANY bid, you folks need to decide whether you want a FNMA 1004 form, a 1073 form or a 1025 form. If the latter is sought, then a 1004MC would not appear to be relevant.
I am expert witness qualified in Los Angeles County Superior Court. In addition to the base fee (due in advance) which starts at a minimum of $1,500 for SFR, $2,000 for a condo and $2,500 for a 2 to 4 unit rent controlled property in Los Angeles, I charge $350 an hour for expert witness court appearances. The expert witness fees can be estimated and paid on the date of appearance PRIOR to the appearance. In the event that the property value is expected to exceed a million dollars, a premium would be applied to the fee. It is not directly value related. It is based on anticipated complexity. For example, if it is in excess of ten million dollars, you should expect a fee in the range of $5,000 to $7,000+/-. You should allow from two to four weeks depending on the specific property characteristics in question.
Usually, I appear for the side that is NOT engaging an appraiser through an AMC. This is something that you really should be having the attorney order. In any case, I would not accept the order without discussing it directly with the attorney first.
Certainly I would never go to court and try to defend a meaningless formatted UAD compliant appraisal report which is only suited to the very particular database building needs of FNMA and other GSEs. It is a terrible format to take into a court room and sets your side up to lose before you even get started. You should not confuse Fannie Mae’s acceptance or endorsement of UAD formats as being equal to a good appraisal report (format) that does NOT have UAD’s artificial directives.
Additionally you have several other directive comments in this email about what I can or cannot do. Several of these amount to unnecessary interference in the appraisal process and negate any certifications about undue influence that would become apparent under cross examination.
When you hire an appraiser to perform an appraisal for legal purposes, set aside your boilerplate. No two cases are the same. YOU should not dictate artificial boilerplate constraints. You are not appraisers and you are not California attorneys.
Any chance you could refer me to the opposing side?
From: Laura Avila [mailto:LAvila@lrescorp.com]
Sent: Wednesday, July 20, 2016 12:03 PM
To: Laura Avila
Subject: Interior Appraisal Request (Los Angeles, CA)- Purpose: Junior Lien
Redacted property address
*** RETRO/ EFFECTIVE DATE 4/21/2016***
We have an order for the property above that we need to have an appraisal completed on. Report must be UAD compliant. The forms required for this report is 1004, 1004MC, 1073, 1025. We need this completed as quickly as possible. Appraiser must be willing to execute a declaration in support of the appraisal and is willing to attend a hearing and given testimony as to the valuation, if necessary. Original photos Required (NOT MLS) for the subject and comps (3 sale comparables must have closed within 90 days. In the case where they aren’t’ available, appraiser must provide a detailed explanation as to why. No canned statements. 5 Sales Comparables are required on properties valued at $1,000,000 or more. Must provide 1 comparable listing for each sold comparable that is over 90 days. Provide land value in cost approach section). If interested, please advise your fee and current TAT via email.
Please make sure to include your experience giving expert testimony.
Laura E. Avila
Appraisal Order Specialist
765 The City Drive South, Suite 300
Orange, CA 92868
Direct: (951) 496-4265 | F 714.520.5499