Real Estates
Perella & AssociatesAbout
Important information
- Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct: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.
Business Details
- Local BBB:
- BBB of Minnesota and North Dakota
- BBB File Opened:
- 7/30/2007
- Business Started:
- 7/1/1991
- Business Started Locally:
- 7/1/1991
- Type of Entity:
- Corporation
- Business Management:
- Greg Perrella, Owner
Additional Contact Information
- Principal Contacts
- Greg Perrella, Owner
- Customer Contacts
- Greg Perrella, Owner
- Fax numbers
- Primary Fax: (218) 262-5584
- Additional Email Addresses
- Primary: Email this Business
- Complaint: Email this Business
- Inquiry: Email this Business
Additional Information
- Referral Assistance
- Minnesota Department of Commerce
85 7th Pl E Ste 500
Saint Paul MN 55101
Phone Number: (651) 539-1500
http://www.commerce.state.mn.us
[email protected] - North Dakota Real Estate Commission
200 E Main Ave Ste 204
Bismarck ND 58501
Phone Number: (701) 328-9749
http://www.realestatend.org/ - Business Categories
- Real Estates
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