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AMC's And Revisions

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AppraizinAZ

Junior Member
Joined
Dec 31, 2006
Professional Status
Certified Residential Appraiser
State
Arizona
I think all work with AMC's is done for me. I have spent too much time answering their ridiculous revisions. This mornings were just a great way to start the day:

1) FHA appraisal asked for a photo of the raw (unpainted) wood that needed to be painted. (I guess the ones in the appraisal weren't enough even though there were 3...one from the street, one from a middle distance, one close up and all with arrows to be obvious

2) 6 "other" sales I needed to consider because it was $50K under contract price. Not 1 sale within 2 miles to support but I guess the model match sales and active listings of identical homes/upgrades/views within the subdivision were unacceptable?

3) Please add FHA case # to the appraisers license...uh....NO

4) Please comment on why the cost approach was not completed. (if you take a little look-see it WAS completed in full and a cost addendum was attached)

5) Please include a photo of the garage door. What, what? See front of subject photo? Was there something special about this door?

All different properties...but ahhhh same AMC!!!!! Yes, they are fired, and I am TIRED. Staying away from this company.

I wish the AMC's would understand that it takes time to pull these up and look at them to just say WTF? You have to take the time to log into their sites, and leave messages, etc as to why you can't do whatever crazy employee wants..then I get a message to add an addendum to state why I can't do whatever they want....this all takes TIME that I need to be on the road to an inspection or writing a report.

Its getting worse...
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
Sorry for your bad day - I never look at stips early in the morning or late at night- Usually once I take a deep breath and calm down I can deal with them in 5-10 minutes. The real issue is you came in 50K low and the buyers -sellers-realtors-lender are trying to find any deficiencies in your report which can justify getting a second appraisal done ( yes it can be done even on FHA ) if the Underwriter believes your report is not of good quality or your value is not adequately supported.
( high or low )
 
Last edited:

AppraizinAZ

Junior Member
Joined
Dec 31, 2006
Professional Status
Certified Residential Appraiser
State
Arizona
Nope, all pages had the case # and the final value opinion was well supported on the other. I knew at the beginning it was a problem, probably shouldn't have accepted the order.
 

ucbruin

Elite Member
Joined
Mar 11, 2014
Professional Status
Certified Residential Appraiser
State
Massachusetts
I think all work with AMC's is done for me. I have spent too much time answering their ridiculous revisions. This mornings were just a great way to start the day:

1) FHA appraisal asked for a photo of the raw (unpainted) wood that needed to be painted. (I guess the ones in the appraisal weren't enough even though there were 3...one from the street, one from a middle distance, one close up and all with arrows to be obvious

2) 6 "other" sales I needed to consider because it was $50K under contract price. Not 1 sale within 2 miles to support but I guess the model match sales and active listings of identical homes/upgrades/views within the subdivision were unacceptable?

3) Please add FHA case # to the appraisers license...uh....NO

4) Please comment on why the cost approach was not completed. (if you take a little look-see it WAS completed in full and a cost addendum was attached)

5) Please include a photo of the garage door. What, what? See front of subject photo? Was there something special about this door?

All different properties...but ahhhh same AMC!!!!! Yes, they are fired, and I am TIRED. Staying away from this company.

I wish the AMC's would understand that it takes time to pull these up and look at them to just say WTF? You have to take the time to log into their sites, and leave messages, etc as to why you can't do whatever crazy employee wants..then I get a message to add an addendum to state why I can't do whatever they want....this all takes TIME that I need to be on the road to an inspection or writing a report.

Its getting worse...

"...then I get a message to add an addendum to state why I can't do whatever they want..."

Because I make my living working with AMCs, I try to be more patient than other members....
I can't afford not to be....

But I will agree with you that being asked to add an addendum simply to state and explain why the requester and the request is wrong does drive me crazy!!!!

I do push back....
But I just can't afford to push back too hard....
 

azbassman21

Junior Member
Joined
Apr 1, 2011
Professional Status
Certified Residential Appraiser
State
Arizona
$12/hr reviewers with no appraisal or real estate experience, which then gets handed off to a $14/hr underwriter who is trying to justify their job by poking holes in your report. I hate the process, and it is severely flawed, but that;s what comes with working with AMCs.
 

bnmappraisal

Elite Member
Gold Supporting Member
Joined
Nov 9, 2011
Professional Status
Certified Residential Appraiser
State
Florida
I wish the AMC's would understand that it takes time to pull these up and look at them to just say WTF?
(I've worked on the AMC side - 10+ yrs ago - so I'm talking from personal experience as well as experience from people I still know on that side)
AppraizinAZ, I understand your frustration! (y)

The problem is, it takes literally minutes for them to look at a report, even though it takes us HOURS to type it

Many of them don't understand what it takes to make a "simple" correction (I didn't at the time!) - i.e. open the report, unsign it, add comments to addendum/add amended contract to the report? (or whatever other exhibit we want/need to add) ... and then god forbid if we have to add a comp that we didn't originally have - and so that we're not the average Skippy, we actually drive the new "comp" and actually take the pic then add to report! - again, takes time. But to "Jimmy the Reviewer!" it should all take minutes!

Even some direct clients I work with have asked me why it "takes so long" for a "simple" revision. BUT! Once I've explained it to them, they've never asked/questioned it again. AMC's? still don't seem to understand ... mostly because you're hardly EVER talking to the same person due to turn over on their side
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Wife is not adverse to picking up the phone, calling the AMC and talking with the reviewer's supervisor. Stips have declined sharply.
 
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