[Mike Kennedy]

If there are legitimate concerns they should be relayed to the lender.


Correct. They were.

[Non Sequitur]

Originally Posted by Mike Kennedy

http://appraisersforum.com/showthread.php?t=157017 NOTICE THE DATE?

What I did notice is that you have no sense of hyperbole.

[Mike Kennedy]

Not when it comes to anyone's professional reputation - including yours.

[LI-Appr]

Carnivore you are right about NYC I have been appraising it for years and Nassau County and western Suffolk. When it comes to manhattan I stand clear same with Staten Island they are totally different animals. Western Suffolk I am ok with but the East end of Long Island needs an appraiser experienced in the area. I have appraisers I know that are knowledgable in these areas and I tell my clients (Not many now HVCC) that I can arrange the appraisal or give a name. Either way we work on a fee split with 75% going to the guy that does the work. Compenentcy in a market is a big issue. That is why I hate AMC,s who have your work reviewed by people that have never even been in the market area. Shoulod no be legal to do that. But then again I don't think AMC's should be able to collect an appraisal fee or split. There fees should be part of the lenders expense for using their service.

[Non Sequitur]

Originally Posted by Mike Kennedy

Not when it comes to anyone's professional reputation - including yours.

Are you implying I impugned Pams reputation? You have to be kidding.

[Domino]

Originally Posted by timd354

Domino, I was just being a wisecracker.....no offense intended.

thanks timd.. I figured you were just kidding, but after a few cold ones on a Friday night, I was ready to defend RI. .. Have a good weekend..

[smackodu]

Originally Posted by Non Sequitur

But lets take it to another level. If as you say the listing broker has a fiduciary responsibilty which involves the lending side, why not insist when the contract is signed that the buyer use a lender, an inspector, a title company, an insurance company and the lender use an appraiser approved by the seller?

That's a great idea Non Sequitor. I'm going to suggest this at a realtors meeting where I have been asked to speak later this month. In my neck of the woods we have a large real eatate firm that I'll call Large & Fast. They have have a special relationship with a mortgage company that I'll call Prosperous Mortgage. Propsperous Mortgage sends all their loans to a company with a big stagecoach. That company sends their appraisal orders to Reliable AMC. Reliable AMC sends all their work to the cheapest Skippy they can find and I do mean cheapest.

I believe this is something realtors should know before their sellers accept an offer from an agent at Large & Fast. If YOU are the seller of the subject property, is this something you might want to know? If you are the seller of the subject property, might you want to know about the appraisers lawsuits against these companies? If I'm the seller it is something I want to know!

[Otis Key]

[PropertyEconomics]

I have an even better idea .. why dont you guys just keep making up stories to prove your points ... that way no one ever gets any place cause the rules always change becasue the story is a fabrication that only the author knows what they will change next???

[TJSum]

Originally Posted by smackodu

That's a great idea Non Sequitor. I'm going to suggest this at a realtors meeting where I have been asked to speak later this month. In my neck of the woods we have a large real eatate firm that I'll call Large & Fast. They have have a special relationship with a mortgage company that I'll call Prosperous Mortgage. Propsperous Mortgage sends all their loans to a company with a big stagecoach. That company sends their appraisal orders to Reliable AMC. Reliable AMC sends all their work to the cheapest Skippy they can find and I do mean cheapest.

I believe this is something realtors should know before their sellers accept an offer from an agent at Large & Fast. If YOU are the seller of the subject property, is this something you might want to know? If you are the seller of the subject property, might you want to know about the appraisers lawsuits against these companies? If I'm the seller it is something I want to know!

Special Relationship is putting it mildly, doesn't Large & Fast own PM?