Did you know comp checks can be a USPAP violation...
Lenders ask appraisers for comp checks every day. Lenders and borrowers don't want to waste their time and money on loans that won't work doe to the LTV. However, for the appraiser comp checks or providing an "estimate" of a home's value prior to receiving the appraisal order might put the appraiser in violation of USPAP and jeopardize their state license.
Appraisal RE Center prepares all appraisals in compliance with USPAP and CA State Appraisal Licensing laws. This protects you, us, and the property owners. Other appraisers may give lenders comp/value checks and risk placing themselves in direct violation of USPAP. Usually these are inexperienced and unethical appraisers that are willing to do just about anything for a dollar. Many of these appraisers are also black listed from banks and can be discredited by the (OREA). This is the regulatory entity that handles complaints and are doing what they can to crack down on illegal and unethical appraisal practices.
In an effort to assist lenders and borrowers in obtaining an ideal of a homes worth and at the same time stay within USPAP regulations, we at Appraisal RE Center have teamed up with certain web-based databases that offer access to real estate transacted public data. The 3rd party data consist of recent home sales in a given area. This data is not a garauntee of value, a comp/value check or any form of an appraisal. This data also does not account for important factors that may affect a homes value such as foreclosures, distressed sales and the like.
This is merely access to public records to show what other homes recently sold for in an area. Appraisal RE Center holds no responsibility in the self made opinions of persons whom view this data and arise with thier personal opinion of value.
To order a professional appraisal, please click here.
To access recent sales in a given area, please choose one of the Real Estate Databases below...