Comments on: Property Sellers Who Are Dishonest

By: Realrose

Realrose — Sun, 29 Mar 2020 05:12:41 +0000

This was an excellent article. These are items that require a lot of experience over years to be able to detect when there is information that is purposely being withheld by the owner, usually in order to get a higher value. Think about stigma on properties where someone has died from the corona virus, and the other general economic conditions upcoming due to the virus, and I predict steep declines in value for the near term, in real estate and the stock market.

By: Baggins

Baggins — Sat, 28 Mar 2020 16:33:59 +0000

In reply to John M Pratt.

The appraiser is contracted by the lender as an independent third party. Or if employed, the ethics of licensing demand objective behavior regardless of an employers interest. You know, if that’s what it needs to cost, shouldn’t that be what it costs? Anyone ever wonder why the topic of showing an appraiser a home inspection is mysteriously never at the forefront of all these supposedly important issues pertaining to accuracy of real property valuation. As usual, pay attention to what you’re not being told.

By: Baggins

Baggins — Sat, 28 Mar 2020 16:30:39 +0000

Standing by my statement in that below linked article. No technology will ever provide an equivalent check to balance as an objective unbiased human. If assumptions becomes the new norm over personal inspections, expect a permanently higher proportion of fraudulent behavior. When it comes to home sales, property condition, we have never, and will never be able to just trust self assertions from interested parties. Knee jerk reactive solution forming on the fly does not have a great track record, but somehow that’s the new instant norm too. Not buying into any of it. Full inspection protocol as normal, or bust. Lending can simply wait and be patient like the rest of us.

By: John M Pratt

John M Pratt — Sat, 28 Mar 2020 16:30:34 +0000

All of these comments seem to be the responsibility of the Real Estate agent and or the potential buyer. This is not the function of the appraisal. If they want to know if there are problems with the home they should contact a home inspector. If the appraiser covered all the items mentioned in this article appraisal reports would cost $ 3,000 and take over a week just to complete one appraisal and remember the appraiser is working for the lender. It is not the responsibility of the appraiser to educate the buyer.