• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Afternoon phone call, how would you deal with it?

Status
Not open for further replies.

Ray Miller

Thread Starter
Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Got to love this. Just get a call from a lender. It was a property that I did several weeks ago on the Rock River. The area is zone commercial, SF residential, Multi-family residential they are inter mix along the river with each other.. I state the neighborhood is the east side of the river to the state hiway from the town of Janesville to the town of Beloit. The zoning across the hiway is the same type of mixed zoning.

I note that the property next door is commercial and that it being commercial in this area of mix zoning shows no external obsolescence to the properties in the area. The subject property is currently being used as a marina and retail sales for boats and related retail, it has its own private river access and dock.

Now this lender wants me to give more detail of the commercial properties in the area and more detail about the commercial property to the south of the subject, the marina. She also wants me to be sure and note that the marina has this private dock and it is used by people in the area. She wants me to give more detail as to why the area is mix zoning as well.

Now comes the kicker, I says you are not the original lender that ordered the appraisal is that correct? She answers yes. I said told her I could not just alter the original appraisal report and give her a copy at her request. That I am bound by USPAP and can not disclosed the original appraisal to her. She goes on to say that they have taken care of that with the owner; he had no problem with changing the name of the lender in the original report so that they could use it. What???? You just said you change the name of the original lender in one of my reports? She then said not yet, so will you just add our name in the report you are sending us??? I told her I would need a new order, she would need to pay a small penitence for the new report. Then she went on to tell me how other appraisers are willing to work for them and help them out when needed.

How would you deal with this?????

I feel if they want additional information and research they should be willing to pay for it or order a new appraisal with a new scope of work. Or do I bend over in the name of client service and hope later on I get a kiss?

Just how many times do you think appraisal reports are altered by lenders not wanting to spend the bucks for a new appraisal.

It doesn’t take much to print out the pdf file, then white out the lenders name and put a new lenders name in and recopy the appraisal to look like the original PFD file now does it???
 

Doug Meyer

Senior Member
Joined
Sep 13, 2003
Professional Status
Certified Residential Appraiser
State
Indiana
Ray, you know what to do. New assignment for the additional work and a newer fee.
 
Last edited:

stefan olafson

Senior Member
Joined
Apr 2, 2003
Professional Status
Certified General Appraiser
State
North Dakota
New Assignment, New Inspection, New Fee, it's that simple. Get the names of those other oh so helpful appraisers and have a little sit down with them Ray....
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
New assignment, new report, 10% discount off your full fee, or let them get thier pet to do it at his full fee.

Screw 'em. If you don't do it, they will have to pay somebody else.
 

Patrick W

Sophomore Member
Joined
Nov 23, 2002
Professional Status
Certified Residential Appraiser
State
Michigan
Nothing has changed has it? It's the same old BS as usual.
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
m2:

Either move or retire.

m2:

Wisconsin seems to be hopeless.

m2:
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Ray, you trying to single handedly keep Pam in bidniz today??
 

c w d

Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
Ray, tell them you'll be happy to help them. But, there will be additional fees involved. In order to assist them you'll need a new assignment request. The fee is $x dollars. In order to analyze and report what she requested you require $x additional dollars. When she gives you the "well other appraisers...." let her know you could go ice fishing or something for free. But, since this is a business transaction you require compensation for your services. All politely of course.

I know what she said about changing the client name on the report. That does not implicate her in anything. It could be a statement meaning to get you to do a lender change, as matter of factly. I don't know. I wasn't there. But, I'm trying not to think the worst and trying to think how you can make some money out of this.

If she still won't play ball wrap up the call by letting her know that in order to change the lender name that you require $x, because you are required by USPAP to create a new workfile, etc, etc, etc, that until then you are unable to help them.

In a month or so, give the home owner a call. Let them know you're calling for quality assurance of your appraisal. Ask them some generic questions like "Were you satisfied?", "Did the appraisal accurately reflect the dwelling?". Nothing about value or anything protected under confidentiality. Feel them out as to whether or not the loan went through with the company that expected you to work for free. Ask whether or not they were able to use your appraisal or whether a new appraisal was ordered. If they used yours, go to the courthouse and get a copy of the mortgage agreement that should be recorded. Then nail her *** to the wall for fraud.
 

Ed Falkowski MAI SRA

Senior Member
Joined
Jun 25, 2007
Professional Status
Certified General Appraiser
State
Pennsylvania
Ray - my brother and his wife live in Madison and are both grad students at UW. They just bought a house there a little over a year ago. It's a shame that they didn't ask me if I knew an appraiser in Wisc... it sounds like you're a good one with good morals/values... a rare find indeed. :clapping:

Good luck dealing with "We-need-a-skippy Mortgage Co". I usually charge about 50% of my fee to do the brand new report. I always get a check from the HO - I might be lenient occasionally for new orders... but for re-orders, it's always payment from the HO (since they obviously aren't afraid to move companies and I would be stuck with an open invoice if I billed the MB and the HO moved companies again). I mean, unless there is either a.) something wrong with the house when you go back out there that might have an impact on value or b.) there is noticiable market activity since the last inspection (which, depending on the time frame, may or may not be the case), then the report should look just about the same (save for the lender info, etc). There has only been one time in my entire professional appraisal career where option "A" has happened and several times where option "B" has happened (usually because of the time frame between the original and new inspection - and then it's a brand new 100% fee for me).

...or, there's option "C. Just tell 'em to go and F-off. :peace:
 

Ray Miller

Thread Starter
Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Ray - my brother and his wife live in Madison and are both grad students at UW. They just bought a house there a little over a year ago. It's a shame that they didn't ask me if I knew an appraiser in Wisc... it sounds like you're a good one with good morals/values... a rare find indeed. :clapping:

Good luck dealing with "We-need-a-skippy Mortgage Co". I usually charge about 50% of my fee to do the brand new report. I always get a check from the HO - I might be lenient occasionally for new orders... but for re-orders, it's always payment from the HO (since they obviously aren't afraid to move companies and I would be stuck with an open invoice if I billed the MB and the HO moved companies again). I mean, unless there is either a.) something wrong with the house when you go back out there that might have an impact on value or b.) there is noticiable market activity since the last inspection (which, depending on the time frame, may or may not be the case), then the report should look just about the same (save for the lender info, etc). There has only been one time in my entire professional appraisal career where option "A" has happened and several times where option "B" has happened (usually because of the time frame between the original and new inspection - and then it's a brand new 100% fee for me).

...or, there's option "C. Just tell 'em to go and F-off. :peace:

Thank you for the kind words. Mr. Stone would be your choice if you refer any business to our area. I stay out of the larger cities. Just work on my smaller towns, rural towns, rural areas. I would not know how to do a cake walk where everything is together an on line. My have to reduce my fees to the current 1 beaver pelt like most are getting.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks