Hal Dunn & Associates Realty & Appraisal

Response to Complaint # [redacted] In response to your complaint, I did not receive your first email or I would have addressed this issue earlier In the compliant I was misquoted, the comment I made was that when a borrower calls making the accusations made in this case, I know I am doing my job We do not rely on appraisal district values, the owner may want to address the appraisal district value issue I have tried to conduct my business ethically and professionally for 29+ years doing 100- appraisals per month without having being accused of being unethical or unprofessional The fee being questioned was misquoted and overstated considerably from our invoice Appraisers are chosen on a random basis to complete the appraisal with no bias There is an intermediary, which acts as the middle man to control interaction with other parties to the appraisal to include Appraiser, Lender, Borrower, and Realtor As you know we have many eyes looking over our shoulders throughout the course of these appraisal assignments, and consistency from one assignment to the next, over years of experience, is the number one most important factor in keeping our job and remaining in good standing with the clients we routinely work for and withBeing an impartial and thorough appraiser, as well as utilizing a historically consistent methodology of development of these appraisal assignments is why I have been able to be involved in this business for years In this case the Borrower did not approve of the amount of the appraisal, and reached out to the appraiser circumventing the appraisal process mandated by Federal and State Rules and Regulations The Client/Lender had accepted the report as it was written Our mission and goal is to take subjective factors out of the equation and use rock solid actual and current sales data in development of the opinions of market value for our clientsMany times there is not enough current market data to illustrate the market value of “uniqueness and location.” We try to provide a range of current market values with which a reasonable opinion of market value can be supported for the subject property It is my opinion that I have performed this assignment while adhering to the consistently utilized methods and valuation principles in the development of appraisal assignments within the [redacted] and greater [redacted] County marketplaces Appraisals are designed to compare the subject property to like comparable’s within a certain time frame (months or less), location, size, and amenities The comparable’s used in the report represent the most like properties to the subject within these parameters in this appraiser’s opinion Items the borrower used in the grievance with the Revdex.com are not used as value added items in an appraisal report, primarily because the comparable’s have equal updates and/or amenities He also retained the local realtor he used to purchase the subject home to obtain some comparable’s he felt would raise the value of the report All of the comparable’s given were outside an acceptable time frame and in a neighborhood not similar to the subject neighborhood Two had swimming pools with one having a lake view and all having superior lot values This action again circumvents the appraisal process of neutral parties working with no bias I did not discuss anything further than comparable’s with the borrower which was not required and advised him that I would be glad to review any true comparable’s Again I was misquoted about “fluff”, that is not in my vocabulary I did advise him that it appeared that the comparable’s were “cherry picked” by his realtor and could not be considered good comparable’s due to age of sale, difference in “location” and amenitiesThe discussion with the borrower regarding price per square foot was based on the premise that we do not appraise based on a price per foot basis, and also that the price per square foot is inversely proportionate as the homes get larger In the future I will adhere to the fact that there will be “no” contact other than through the intermediary It is my professional opinion that I have performed this assignment while adhering to the consistently utilized methods and valuation principles in the development of appraisal assignments within the Troy and greater [redacted] County marketplace in particular, and every effort was made to ensure no applicable sale data was overlooked I apologize to Mr [redacted] for the inconvenience of this misunderstanding I did handle this through the proper channels and advised the intermediary of our review after consideration of comparable’s submitted Respectively submitted, [redacted] ***

Response to Complaint #[redacted]
In response to your complaint, I did not receive your first
email or I would have addressed this issue earlier.  In the compliant I was misquoted, the comment
I made was that when a borrower calls making the accusations made in this...

case,
I know I am doing my job.  We do not rely
on appraisal district values, the owner may want to address the appraisal
district value issue.  I have tried to
conduct my business ethically and professionally for 29+ years doing 100-125
appraisals per month without having being accused of being unethical or
unprofessional.    The fee being
questioned was misquoted and overstated considerably from our invoice. 
Appraisers are chosen on a random basis to complete the
appraisal with no bias.  There is an
intermediary, which acts as the middle man to control interaction with other
parties to the appraisal to include Appraiser, Lender, Borrower, and Realtor.  As you know we have many eyes looking over
our shoulders throughout the course of these appraisal assignments, and
consistency from one assignment to the next, over years of experience, is the
number one most important factor in keeping our job and remaining in good
standing with the clients we routinely work for and with. Being an impartial
and thorough appraiser, as well as utilizing a historically consistent
methodology of development of these appraisal assignments is why I have been
able to be involved in this business for 30 years.  In this case the Borrower did not approve of
the amount of the appraisal, and reached out to the appraiser circumventing the
appraisal process mandated by Federal and State Rules and Regulations.  The Client/Lender had accepted the report as
it was written. 
Our mission and goal is to take subjective factors out of
the equation and use rock solid actual and current sales data in development of
the opinions of market value for our clients. Many times there is not enough
current market data to illustrate the market value of “uniqueness and
location.” We try to provide a range of current market values with which a
reasonable opinion of market value can be supported for the subject property.
It is my opinion that I have performed this assignment while adhering to the
consistently utilized methods and valuation principles in the development of
appraisal assignments within the [redacted] and greater [redacted] County marketplaces.
Appraisals are designed to compare the subject property to
like comparable’s within a certain time frame (6 months or less), location,
size, and amenities.  The comparable’s
used in the report represent the most like properties to the subject within
these parameters in this appraiser’s opinion. 
Items the borrower used in the grievance with the Revdex.com are not used as
value added items in an appraisal report, primarily because the comparable’s have
equal updates and/or amenities.  He also
retained the local realtor he used to purchase the subject home to obtain some
comparable’s he felt would raise the value of the report.  All of the comparable’s given were outside an
acceptable time frame and in a neighborhood not similar to the subject
neighborhood.  Two had swimming pools
with one having a lake view and all having superior lot values.  This action again circumvents the appraisal
process of neutral parties working with no bias.
I did not discuss anything further than comparable’s with
the borrower which was not required and advised him that I would be glad to
review any true comparable’s.  Again I
was misquoted about “fluff”, that is not in my vocabulary.  I did advise him that it appeared that the
comparable’s were “cherry picked” by his realtor and could not be considered
good comparable’s due to age of sale, difference in “location” and amenities. The
discussion with the borrower regarding price per square foot was based on the
premise that we do not appraise based on a price per foot basis, and also that
the price per square foot is inversely proportionate as the homes get
larger.   In the future I will adhere to the fact that
there will be “no” contact other than through the intermediary.  
It is my professional opinion that I have performed this
assignment while adhering to the consistently utilized methods and valuation
principles in the development of appraisal assignments within the Troy and
greater [redacted] County marketplace in particular, and every effort was made
to ensure no applicable sale data was overlooked.  I apologize to Mr. [redacted] for the
inconvenience of this misunderstanding.  
I did handle this through the proper channels and advised the
intermediary of our review after consideration of comparable’s submitted.
 
Respectively submitted,
[redacted]