"screen and reject the appraiser selected"

Discussion in 'General Real Estate and Real Estate Finance' started by Riick, May 6, 2009.

Thread Status:
Not open for further replies.
  1. Riick

    Riick Elite Member

    11
    Aug 14, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Delaware
    Well, here's a MB who suggests that the Homeowner should cross-examine the AMC appraiser and reject those he doesn't like.

    http://www.davidmdamare.com/newsletter/?p=144

    .BTW... if you do a Control -A (Or Edit, Select All) the page is easy to read.

    .
     
    Last edited: May 6, 2009
  2. dobie

    dobie Senior Member

    0
    Oct 26, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New Jersey
    This guy needs a tutorial on web design. Black font on dark blue background. I got a headache after one paragraph. Otherwise his recommendations are idiotic.
     
  3. Randolph Kinney

    Randolph Kinney Elite Member

    7
    Apr 7, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    What a great idea! It may be called due diligence on the homeowner's part.
     
  4. NORTON

    NORTON Senior Member

    0
    Oct 10, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    and then we will ask for the credit report...and loan documents...and we can call it due dilligene!
     
  5. Ken B

    Ken B Elite Member

    2
    Feb 18, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    From a consumer perspective, I didn't see the problem with the suggestion.

    From an appraiser's perspective, it sounds like a pain.

    Relo companies give transferees the same kind of advice. I have gotten referrals from other transferees as a result of my interviews with the original transferee.
     
  6. Mr Rex

    Mr Rex Elite Member

    13
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    If the Homeowner has a hand in selecting the appraiser, the lender by law can not use that appraisal, no?:new_smile-l:
     
  7. moh malekpour

    moh malekpour Elite Member

    0
    May 25, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    There is much different between the one who wants to sell a home and the one who wants to borrow money against the home.
    The one who wants to sell the home wants to know what is the market value of the home. The one who wants to borrow money aginst the home wants to know what is the maximum money can be borrowed regardless of market value
     
  8. Ken B

    Ken B Elite Member

    2
    Feb 18, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    If some pony-tailed appraiser in cargo shorts and an untucked long-sleeve shirt with the sleeves rolled up knocks on my door, I'm not letting him in. Especially if there is a dog in his car.
     
  9. Ken B

    Ken B Elite Member

    2
    Feb 18, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    And yet I saw no reference to value or loan amount questions in the webpage that is the subject of this discussion.

    And I must assume that you don't do much relo work, because I haven't talked with a single transferee that didn't want an appraisal on the high end. They want the highest possible offer from the relo company. They generally could care less about what the relo company can sell it for. And the relo company is not concerned with market value. They want to know what it will sell for.
     
    Last edited: May 6, 2009
  10. moh malekpour

    moh malekpour Elite Member

    0
    May 25, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Your assumption is right that I have not done many REL. I did few of them a long time ago when they called me. but I did not want to pay for membership and never joned them. I don't know if it is worth of money to pay them and take a chance to get some business from them or not.
    But you say that transferee wants the highest possible offer. Isn’t it the desire of all home sellers and isn’t it what all listing agents promise sellers to get them the highest price?
    Then, you say that they care less about what the Relo Company can sell it for and then you say that the relo company is not concerned with market value, they want to know how much it will sell for?
    Lets take the last sentence that they want to know how much it will sell for? Do they want to know how much it will sell for upon the condition that seller and buyer are willing to sell or buy or the condition that they are coerced, intimidated or forced to sell or buy? Are relo seller and buyer informed and knowledgeable of what they are doing or not? Are they supposed to negotiate back and forth or not? is the property suppose to have certain day of market exposure or not? is the payment for the transaction going to be in cash or cash equivalent or not?
    If the conditions for how much it will sell for and the conditions that are in the definition of market value are the same, then how much it will sell for = how much is the market value under those conditions. In the scope of work, those conditions in definition of market value can be defined. For example, the marketing time can be defined as 120-150 days instead of 30-90 days. The higher the marketing time, the longer the exposure to the market, the longer exposure brings more buyers to the property and more buyers create more competition and more competition causes higher value. But it has to be defined in scope of work in the framework of market value definition.
    I am trying to find out what is the different between what the property is going to sell for under certain conditions with what is the market value under the same conditions. If the conditions for what the property is going to sell for are different with the conditions of what is in the definition of market value, please explain them.
     
Thread Status:
Not open for further replies.

Share This Page