According to AppraisalBuzz blog's interview with Elaine Matternas, who oversees Intercorp’s Real Estate Appraisers Errors & Omissions Program: "If you take a snapshot look at 100 claims filed against appraisers, you would find":
- Almost half of the claims relate to overvaluation of properties.
- About 10% relate to disciplinary actions at the state level.
- Five percent each to the following:
- Fraud.
- Flipping schemes.
- Identity theft, misuse of signature, forgery.
- Mismeasurement, inaccurate acreage, etc.
- Construction or property defects.
- Undervaluation of property.
The rest would include a range of allegations: nondisclosure that a structure was a manufactured house; misinformation on septic issues, or connection to public sewage; appraising the wrong property; zoning issues; use of unsuitable or inappropriate comps; misunderstanding of assignment (appraised one apartment instead of a four-unit building), and so on.
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