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  #1  
Old 07-25-2005, 09:03 AM
Ray Miller's Avatar
Ray Miller Ray Miller is offline
 
Join Date: Feb 2002
Location: Southwest Wisconsin
State: Wisconsin
Professional Status: Licensed Appraiser
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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.
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Old 07-25-2005, 11:05 AM
Wendy Wendy is offline
 
Join Date: Feb 2004
Location: Volusia/Flagler
State: Florida
Professional Status: Certified Residential Appraiser
Posts: 4,133
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I'm getting it here also.

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

I think I will knock off early today.
  #3  
Old 07-25-2005, 11:15 AM
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Otis Key Otis Key is offline
 
Join Date: May 2004
Location: Mile High
State: New Mexico
Professional Status: Certified Residential Appraiser
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Quote:
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.
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?

Quote:
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.
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  
Old 07-25-2005, 02:49 PM
Verne Hebert Verne Hebert is offline
 
Join Date: Feb 2002
Location: Flathead County, Montana
State: Montana
Professional Status: Certified General Appraiser
Posts: 1,598
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Hey Ray! Put some lipstick on that pig.
  #5  
Old 07-25-2005, 03:50 PM
Walter Kirk Walter Kirk is offline
 
Join Date: Jun 2003
Location: Audubon, N.J.
State: New Jersey
Professional Status: Licensed Appraiser
Posts: 4,386
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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  
Old 07-25-2005, 03:59 PM
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Bill_FL Bill_FL is offline
 
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Location: Cliqueville
State: Florida
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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.
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  #7  
Old 07-25-2005, 04:01 PM
Verne Hebert Verne Hebert is offline
 
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Location: Flathead County, Montana
State: Montana
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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  
Old 07-25-2005, 04:34 PM
David Wimpelberg's Avatar
David Wimpelberg David Wimpelberg is offline
 
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Location: Hamptons, NY
State: New York
Professional Status: Certified General Appraiser
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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  
Old 07-25-2005, 04:54 PM
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CANative CANative is online now
 
Join Date: Jun 2003
Location: Hopland, CA
State: California
Professional Status: Certified Residential Appraiser
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Quote:
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.
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.
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  #10  
Old 07-26-2005, 02:28 PM
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Mister Ed Mister Ed is offline
 
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Location: Middle Georgia
State: Georgia
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Quote:
Originally posted by Greg Boyd@Jul 25 2005, 04:54 PM


Provide them with the contact information for anyone that cares to hear their complaints.
1-800-eat- (oops... I forgot that we need to keep this family friendly)
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