Wednesday, August 4, 2010

Appraisers Even Get Blamed for Problems with BPOs

It's unfortunately gotten so bad with people trying to blame their problems on appraisers that appraisers now even get the blame when the problem relates to a BPO done by a real estate agent.

Some evidence of this fact comes from a local headline and article yesterday in a Hudson Valley, New York news source.  The headline reads "Appraiser pockets $8k diamond from Yorktown home, police say."  The article then goes on to explain that Ms. Melanie Alvarez, "[a] real estate agent from Pleasantville is due in Town Court tonight to answer charges that she stole a $8,500 diamond ring from a Juniper Drive home while conducting an appraisal, police said today." Another article from a different paper similarly reads: "Melanie A. Alvarez, 54, is charged with grand larceny; she is alleged to have stolen a diamond ring and other jewelry while conducting a real estate appraisal."  (I added the emphasis in each quote.) 

There are so many things wrong here.

[A complete and updated version of this article is available to LIA insureds and READI members at readimember.org.  READI is the Real Estate Advisors Defense Institute, created by LIA to protect appraisers, advocate on their behalf and provide straightforward information about the legal issues that affect them.  You can read more about READI at readimember.org.]