Do you really, really believe that a MAI or SRA designation would be the best qualified to appraise a property?
I would suggest you go to the Appraisal Institute website. Therer you can search for appraisers in your area. Generally speaking those with an MAI or SRA designation would be qualified to appraise your property. Just be clear about your requirements and also be aware that court appearences and depositions will cost more money. You can hire your own appraiser for any purpose. Lenders cannot use appraisals performed by an owner selected appraiser. There are some appraisers that like legal and divorce work. Personally I have an aversion to lawyers. Good luck. |
Mr. Lobo,
Do you really, really believe that a MAI or SRA designation would be the best qualified to appraise a property? (I do notice that you qualified your statement and stated..." generally speaking".
Let me relate a story on a MAI appraiser in a divorce case. Respondant's attorney on his first trial case orders an appraisal from an appraisal shop. Owner of appraisal shop has MAI designation! Assignment is a complex property and has new trainee of 1-2 months do the appraisal. MAI appraiser signs off as supervisor but checks box "did not inspect".
Respondant's attorney (client for the MAI appraiser) supoenas trainee for court testimony. MAI appraiser allows her to appear in court rather than himself. Defendant's attorney request trainee be dismissed as witness since she is not an appraiser. Judge grants request and trainee does not get to tesify.
Case is continued to a second day which was scheduled a month later. This time MAI appraiser appears as witness after being supoena by Respondant's attorney. Is cross exam by Defendant's attorney who states , .." I see you checked the box...did not inspect, is this correct. MAI's answer (Yes) Your honor, I request that this individual is not qualified to be a witness, please excuse him as witness."
Judge dismissed him and after his exit, the judge and both attorneys broke out in laugher with the judge making the comment, how can you do an appraisal without inpection! I was personally somewhat embarrassed for the appraisal industry, but the fact that I advised the defendant's attorney to have both the trainee and the MAI appraiser dismissed made my day.
I perform ligation work and do not have any designations. My advice is consult a good attorney and not one that is still wet behind the ears and is barely out of diapers knows the good appraisers to recommend. Having a MAI designation does not necessarily make a good appraiser. David Sawyer.
http://appraisersforum.com/showthread.php?p=1905368#post1905368
Bankruptsy Court Rules:
Rule 6005. Appraisers and Auctioneers
The order of the court approving the employment of an appraiser or auctioneer shall fix the amount or rate of compensation. No officer or employee of the Judicial Branch of the United States or the United States Department of Justice shall be eligible to act as appraiser or auctioneer. No residence or licensing requirement shall disqualify an appraiser or auctioneer from employment.
