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  Minnesota Dept. of Commerce Consent Order
  

  On March 21, 2024 the business entered into a Consent Order with the Minnesota Department of Commerce. The Consent Order settles allegations that the business owner, Greg Perrella, failed to identify versions of an appraisal report were reevaluations, a violation of Minn. Stat. 82B.195, subd 2 (5)(2022) and USPAP SR 2-1 (b)(2020); failed to include analysis and support of the opinion used in an appraisal report, a violation of Minn. Stat. 82B.20, subd. 2 (6) (2022) and USPAP SR 2-2 (a)(xii) (2020) and failed to consistently apply adjustments to comparable properties in the report, a violation of Minn. Stat. 82B.195, subd. 3 (1)(vi) (2022) and USPAP SR 1-1 (c) (2020). They also failed to clearly and conspicuously state the use of hypothetical conditions and the use of a hypothetical condition on the opinion of value, a violation of Minn. Stat. 82B.080 subd. 2 (6)(2022), USPAP SR 1-1 (g), SR 2-1 (c) and SR 202 (a)(xiii) (2020) and failed to maintain a work file to support the opinions and conclusions stated, a violation of Minn. Stat. 82B.071, subd. 2 (2022) and USPAP Record Keeping Rule (2020).

  
  

  Under terms of the Consent Order, the business owner agreed to to pay a civil penalty of $2,500.00 with a balance of $2,500.00 stayed on the condition of no further violations of any laws, rules or orders  under the authority of Minnesota Department of Commerce. The Consent Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law. For more details go to the below link.

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