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Honest Appraisal

Discussion in 'General Appraisal Discussion' started by Carl Pylant, Dec 28, 2004.

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  1. Carl Pylant

    Carl Pylant Junior Member

    1
    Dec 2, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Alabama
    Did 3 appraisals for a gentleman who purchased two distressed properties @ $125K each along with an adjacent lot. Appraised the smaller dwelling for $175K. He has it sold for $200K. He came by the office to discuss the appraisal and I sat down with him and showed him the data I had to work with and explained the process. He agreed that we had nailed the value of the property. He agreed and gladly wrote us a check for the 3 appraisals. Not only did he pay and say thank you, he asked us to do 2 more appraisals for him on some other property. Sometimes it does pay to be an honest appraiser. By the way, he sold the smaller dwelling we appraised for $175k, for $200k, with the buyer paying the difference.
     
  2. Jeff Horton

    Jeff Horton Senior Member

    0
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Alabama
    I just did one for the one of the larger out of state Mtg Co.'s and came in low. Dreaded the phone call and it came. Explained the situation, yada yada yada. Guy said OK, sounds like it is what it is.

    I thought, never hear from him again. Had a call the next day, expected some begging to change it. It was another order and got to more calls after that. They were out of my area but I was floored!
     
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