Live and Learn Complaints, Errors, Actions Blue Grass Missteps Larry Disney, Executive Director, Kentucky Real Estate Appraisers Board says that approximately 95 percent of all Kentucky complaints are real property appraisal assignments of one-four unit properties. He says the reasons for complaints vary but the most frequent violations are one of the following. * Not...…
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Cautionary Tale! Keeping Track of Work Files Recently, an appraiser was the subject of disciplinary action by his State Board. The violation cited was “failing to produce records for an assignment under review.” If you maintain work files for five years, as per USPAP, and figure you can stop reading because it could never happen...…
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Identity Theft – Appraiser Style The best advice comes from an FBI agent, though unfortunately for one appraiser, it came a little too late. That advice is: Be very careful who you work with and never give anyone authority to use your electronic signature. Here’s why. Billy G., we will call him while the investigation...…
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Editor’s Note: Regulator and appraiser Larry Disney shows how USPAP is more flexible than many presume, when it comes to reassigning appraisal reports. Dos and Don’ts: Readdressing, Reassigning and Transferring Reports By Larry Disney Real property appraiser licensees often ask, “Can I readdress, reassign or transfer a real property appraisal report?” The answer is “no,”...…
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Editor’s Note: Many appraisers and inspectors see red when their insurance company settles a claim they feel is frivolous. Here’s the story of one inspector who had his day in court – and won. Having Your Day in Court: And Winning! By Todd F. Stevens A few months ago I defended a home inspector in...…
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Appraisers and Mold – Responsibility, Competency and Liability By Doug Smith, IFAS The mold issue is a developing story and one that is gaining momentum everyday. When it comes to mold, there are three important areas appraisers need to consider. First, due to the dangerous nature of some molds, appraisers must take their responsibilities seriously...…
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FHA Liability: A Case Study Editor’s Note: When the FHA increased responsibilities for appraisers a few years ago – making their duties more like a home inspector’s, many predicted increased liability exposure for appraisers and a flood of lawsuits. This is one appraiser’s story. As it takes a few years for problems to surface and...…
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Consent Orders: Signing Away Your Rights? By Diana Jacob, MSA These days, appraisers facing a disciplinary complaint from their state board are often presented with several options to clear the case. Be careful how you choose – the consequences can be long term and unpleasant. Once a complaint is filed, state appraisal boards typically review...…
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The walnut paneled courtroom is nearly empty. The case being heard this morning does not warrant the interest of local court observers. This is a condemnation case about a utility easement running across the land of a property owner (plaintiff). Leaning back in their leather chairs sits a panel of three judges, grim faced, disinterested,…
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Understanding Arbitration Douglas A. Glass, Esq. & Kris P. Thompson, Esq. It’s mid-afternoon on a typical Thursday. There is a knock at your office door. You are not expecting anyone so you are slightly surprised as you walk to the door and open it. A young man stands in front of you, somewhat out of...…
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