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Monday Morning End Of Month

Discussion in 'General Appraisal Discussion' started by Ray Miller, Jul 25, 2005.

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  1. Ray Miller

    Ray Miller Elite Member

    0
    Feb 20, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Wisconsin
    It is going to be one of those weeks the way things are starting out today.

    First Request

    Request from lender ------ Add these two comparables in so you value will come up in the report. First sale sent 1000 GLA larger then subject , second sale sent an additional legal lot with lake frontage that was sold with the subject giving it double the frontage.

    Second Request

    Upgrade/repair list --------------- It is your job as the appraiser to know what repairs and up grades were made to the subject after they bought it. It is not our job to get the list for you. If you don't complete the appraisal to our standards, you will need to refund the money to the borrower for the appraisal. If not we will report you to the state for fraud. Taking someones money and not giving them a product they can use.

    Yep, going to be of those weeks.
     
  2. Wendy

    Wendy Senior Member

    0
    Feb 23, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I'm getting it here also.

    Somehow it's my fault that their fax is not working. :shrug:

    I think I will knock off early today.
     
  3. Otis Key

    Otis Key Elite Member

    0
    May 15, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    New Mexico
    Geez Ray - Why did they even waste the time, money and effort to get you to do the first appraisal when they already know what they want in the appraisal and which sales to use? :shrug: :shrug:

    Bring it on! First: You got paid to perform an analysis and report. Second: The lender (?) is the client and the only client. Third: The borrower is not the client. Fourth: They (the lender) used the appraisal and therefore the "product" was used!

    Here we go again. STIPS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  4. Verne Hebert

    Verne Hebert Senior Member

    0
    Feb 25, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Montana
    Hey Ray! Put some lipstick on that pig.
     
  5. Walter Kirk

    Walter Kirk Senior Member

    9
    Jun 24, 2003
    Professional Status:
    Licensed Appraiser
    State:
    New Jersey
    My answer would go something like this;

    Dear Lender,

    Please let me know to whom you plan to report me to and when you plan to do so. This will allow me to make my reports about your conduct to the same people.

    You are employing lender pressure and directing me to break the law and appraisal regulations by submitting a misleading report. As to any repairs or upgrades, it is the client's duty to provide the appraiser with all supplimental information that the client wants considered in the report.

    My estimate of value based on my observations and my professional opinion has been submitted, unfortunately the property is not worth the amount that you want it to be worth. In light of this I would suggest to you that it would not be prudent to make the loan in question.
     
  6. Bill_FL

    Bill_FL Senior Member

    0
    Aug 23, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    Repairs and upgrades:


    Please understand that all repairs and upgrades to the home were considered in the appraisal. The appraiser walked around and through the home during the onsight visit. All of the repairs and upgrades were noted, however the appraiser did not know that they were repairs or upgrades. The appraisal, and the estimate of value therein contained, considered the current condition of the subejct property. Since the appraiser does not know what condition it was in prior to the repairs and upgrades, there is no way for them to be specifically mentioned.
     
  7. Verne Hebert

    Verne Hebert Senior Member

    0
    Feb 25, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Montana
    Hey Ray!

    Change the rural to suburban.

    Give them three identical sales (exterior can differ in color).

    Make sure your nets and grosses are zero. All sales in the past 10 days.

    Hey! and lower your fees.
     
  8. David Wimpelberg

    David Wimpelberg Moderator Staff Member Moderator

    29
    Mar 30, 2005
    Professional Status:
    Certified General Appraiser
    State:
    New York
    Hi Ray,

    If it were me, I'd let them report me. It might be a little bit of headache, but if the lender wants to assert that they are performing illegal activity before a regulatory board (i.e., shoot themselves in the foot), I'd let them do so.
     
  9. CANative

    CANative Elite Member

    64
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    You've just GOT to get some better clients.

    It's NOT your job to supply them with detailed lists of repairs and upgrades to make them feel cozy about the difference in value then and the value now. That was then, this is now.

    Provide them with the contact information for anyone that cares to hear their complaints. :angry:
     
  10. Mister Ed

    Mister Ed Senior Member

    0
    Jan 24, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Georgia
    1-800-eat- (oops... I forgot that we need to keep this family friendly)
     
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