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ARE YOU A REAL ESTATE BROKER, PROPERTY OWNER

MORTGAGE PROFESSIONAL OR ATTORNEY?

And Are YOU or your client a victim of a questionable appraised value of a property?

THEN READ THE FOLLOWING IMPORTANT MESSAGE

Dear Potential Client:

If you are a property owner, mortgage professional, real estate broker or attorney representing a client recently turned down for a mortgage loan due to what you perceive to be a faulty or deficient appraisal, then perhaps our appraisal review, audit, appraisal forensics and rebuttal writing service can assist you and your client.

WHAT WE DO FOR YOU:

  • 115 Point appraisal review highlighting any and all deficiencies found in the appraisal report originally submitted and demonstrate how those deficiencies impacted negatively on the value reported in the original appraisal.

  • Examine the General and Specific data used by the original appraiser to determine if the comparable sales used were in fact the best and most recent sales available at the time the appraisal was performed;

  • Address the deficiencies noted in written format through an official appraisal review to the lender on your behalf ;

  • Address the deficiencies noted in written format through an official appraisal review to the appraiser on your behalf;

  • Provide comparable sales that challenge the final estimate of value reported if they exists;

  • Check the data source used to develop the cost and income approaches to value if used;

  • Investigate to determine if the person who signed the appraisal report is the person who inspected the property;

  • Uncover any evidence necessary for “our” preparation of a Letter of Formal Complaint to the Licensing Jurisdictions in the State where the appraiser is licensed ( We serve as your “Appraisal Inspector General”

  • File formal rebuttals and letters of complaint to the regulatory agency having jurisdiction of the lending institution declining the loan due to an incompetent appraisal;

  • As appraisers, we make everyone standup and pay attention to the deficiencies uncovered in an appraisal report.

If we can assist you in correcting the wrong that has been done, then allow us to assist you. For a confidential interview to discuss the merits of your case please call:

718-518-8588

Our fees are as follows:

Complete appraisal review Single Family Residence: $250.00

Complete appraisal review Two, Three and Four Family Residence: $325.00

Complete Condo Review: $250.00

Complete Coop Review: $275.00*

*plus any expense for coop questionnaire

Rebuttal Letters $150.00

Letter to License, Lender, Appraiser $125.00

Complete Summary Appraisal Reports:

1 Family: $375.00+

2 Family: $475.00+

3 Family: $525.00+

4 Family: $600.00+

Over 4 family and mixed use Call

Commercial/Industrial Appraisal/Review Call

Condo Unit: $375.00+

Coop Appraisal (fee plus cost of questionnaire) $375.00+

Call

Richard Greco
Richard Greco Appraisals
Real Property Appraisers, Reviewers, Auditors, Appraisal Forensic Specialists

7
18-518-8588 (office)
718-319-0720 (fax)
914-447-0944 (Cell)

e-mail: Grecoappraisals@aol.com
web: www.richardgrecoappraisals.com

DON’T FORGET TO ASK ABOUT OUR REAL PROPERTY TAX ASSESSMENT
REVIEW SERVICES

and please read the revisions put in place by the

DODD-FRANK PUBLIC LAW 111-203
for the completeb text go to

www.richardgrecoappraisals.com/Dodd-Frank

APPRAISAL INDEPENDENCE REQUIREMENTS

Welcome to RICHARD GRECO APPRAISALS and our appraisal rebuttal valuation page. RICHARD GRECO APPRAISALS is an independent appraisal firm meeting the “Appraisal Independence Requirements” of the Public Law 111-203 established November 1, 2010 (15 U.S.C. 1631, Section 129 G,Truth in Lending Act) replacing the Home Valuation Code of Conduct (HVCC)

Our compliancy center around:

Interior and Exterior cellar to roof appraisal inspections

FHA and VA Appraisers Certified in New York and Connecticut

Second Appraisal requirements of appraisals over 180 days old or as required for current acquisition when price is lower than previous sales price;

Full compliance with Uniform Standards of Professional Practice and Title XI of the Financial

Institutions Recovery, Reform and Enforcement Act of 1989;

Appraisal Independence Compliance with The Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration Board, the Federal Housing Finance Agency
 
AND REALTORS, THIS IS ONE SEGMENT OF THE APPRAISAL INDEPENDENCE REQUIREMENTS THE LENDERS WILL NEVER TELL YOU:
 
Under the Dodd-Frank (Public Law 111-203) and pursuant to TILA, 15 U.S.C. 1631, the consumer applicant is required to be notified at the time of application by the creditor that they can order a separate appraisal at their own expense. Should the applicant choose to have a separate appraisal conducted in compliance with TILA 15 U.S.C 1631 we will be more than pleased to assist the consumer applicant. Please review section (e) below concerning Violations of not allowing an applicant the opportunity to choose to have a separate appraisal.
 
This most certainly is an important professional tool when your client needs to challenge an appraisal ordered by the lender (creditor). 
 
Below for your review are the actual excerpts from Public Law 111-203:
 
 ``(d) Consumer Notification.--At the time of the initial mortgage 
application, the applicant shall be provided with a statement by the 
creditor that any appraisal prepared for the mortgage is for the sole 
use of the creditor, and that the applicant may choose to have a 
separate appraisal conducted at the expense of the applicant.
 
 ``(e) Violations.--In addition to any other liability to any person 
under this title, a creditor found to have willfully failed to obtain an 
appraisal as required in this section shall be liable to the applicant 
or borrower for the sum of $2,000.
 
As such, if your client had a lender order an appraisal, as opposed to HVCC, they can now “LEGALLY” choose to have a separate appraisal.
 
When the time comes for your client to order a separate appraisal, we at RICHARD GRECO APPRAISALS  will be more than pleased to assist your client with the review and or second opinion of value.
 
Thank you,
 
 
Richard Greco
 

NEED AN APPRAISAL?

CALL 718-518-8588

NEED YOUR PROPERTY TAX AND ASSESSMENTREVIEWED

visit www.propertytaxslayer.net

 
 

 

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