What is Appraisal Fraud?

Appraisal Fraud involves the appraiser of a house or commercial real estate, the broker, loan officer and sometimes the lender. This is when the numbers are fixed so the real estate looks as if it is worth more than it truly is. This is usually done so the broker or loan officer can close on a larger loan and make a bigger commission. Other reasons this is done is to get a lower price on a foreclosed home or to get a lender to decrease the amount owed in a loan modification.

Any way you look at it this practice is wrong and illegal. Most appraisers, lenders, brokers, and loan officers are honest people.

For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
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Will Nesbitt

View posts by Will Nesbitt
Will is the principal broker of Nesbitt Realty and Condo Alexandria. He is licensed in anywhere in the Commonwealth of Virginia, but focuses on those communities found in and around Alexandria, Arlington, Mount Vernon and Springfield/Franconia. Will has been involved in real estate management, sales and investment for more than twenty years. He is a veteran of the U.S. Army. While in the army, he studied Russian at Monterey's Defense Language Institute. He is also a "veteran of the dotcom wars" and built most of the sites associated with NesbittRealty.com Will currently resides in Belle Haven Estates just outside Old Town, overlooking New Alexandria. He is a former president of the Mount Vernon Youth Athletic Association and founded the Alexandria Fun with Friends Group. Will is the author of BattlestorM, a tabletop fantasy game, which was published by Ral Partha Publishing in the late '90's, and Arthur's Realm, a boardgame available at the Gamecrafter.