Appraisal didn't "make" the sales price...

[Ken-NC]

Thanks everybody for the comments and suggestions, makes me feel better anyway.

Joe,

One of the very first things I asked the agent involved was, "Well, did you perform a CMA?"

"Yes, I did." was her reply.

"And what comps did you use?"

"Well, I really can't remember, I'd have to go pull the file" was her response.

C'mon... two houses within spitting distance, and she can't recall?

Ken

 

[Ken-NC]

Thanks everybody for the comments and suggestions, makes me feel better anyway.

Joe,

One of the very first things I asked the agent involved was, "Well, did you perform a CMA?"

"Yes, I did." was her reply.

"And what comps did you use?"

"Well, I really can't remember, I'd have to go pull the file" was her response.

C'mon... two houses within spitting distance, and she can't recall?

Ken

 

[Ross (CO)]

Ken, ..... Not sure what design style of home your subject and the others are, but I might wonder how much difference in total living area there is between your measured total and the amount represented in the MLS listing. Is the MLS area total (per level) same as what the county says ? ! Did the agent copy the county living area total and place that directly into the listing ? You have the agent suggesting that you did not measure.....you might consider stopping by the agent's office and asking him or her to show you their measurement details, sketch and calculations for knowing how much area to put in that field of their listing. Either you will be guffawed and no sketch or calculations will be offered, or their MLS listing and the county data are indentical. They may even have the county's sketch photocopied and in their file, and then see if the amounts per level are "tweaked" by 5 or 7 or 13 sq.ft.....just to be a little different. If you were to meet the agent car-to-car....I'll bet they have no tools for measurement in their vehicle, and it's not at their office....because they "left it at home". Left what ? What brand is it ? What color is it ? If you do enter that line of questioning you will be labeled as rude, and other hassles may follow you. Best wishes and like another has said here, put on some more skin thickener lotion.

 

[Ken-NC]

Indeed. The subject and the two comps in the subdivision were all ranch homes. Very simple - the subject had a breakfast nook at the rear. The agent claims 1500 sf and I show 1460. I'll check tomorrow and see what the tax records show.

 

[Bemis Pownall]

STICK TO YOUR GUNS.
LET SOMEONE ELSE HIT THEIR NUMBER.
This to shall pass.

Just another day

 

[Leon Stewart]

Larry,

Yes, I agree. I've done plenty that didn't arrive at the sales price, but this time the agents involved just keep calling and calling! "Did he take the incredible views into consideration?"... "Didn't he notice the thousands spent on landscaping?"... to the incredible, "Did he really measure the house?"! That's a first for me. I'm just beyond aggravated with these people.

Ken

Ken:

Those comments by the Agent are just superficial comments. Depending on your market, many Agents will direct the Loan Officer not to allow you or your Appraisal Firm to Appraise any of his deals in the future, or he wont give them to the Loan Officer. In many markets an Agent can black-ball an Appraiser completely out of business, and most Agents are continually shopping for Lenders that use appraisers that will hit their number. That's how this system works, contrary to what you read from many on this Forum.

Leon

 

[Pamela Crowley (Florida)]

Ken,

I stongly suggest you read the Realtors Codes of Ethics and Standards of Parctice and quote (or even better, send them) to this Realtor and her Broker. I would also consider filing a complaint at your local Board. Read the thread about the Realtor that was sued in Alaska.

It really disgusts me when a Realtor acts like a carnival worker/flim-flam person.

 

[Verne Hebert]

Pamela-

I have filed complaints on more than one occasion to the state. The State regulators are getting buffet passes and rodeo tickets form NAR. I have seen numberous truly aggregious acts and no positive outcome of remedy.

Leon is calling it however. My firms does very little mortgage work. Completely blackballed for good, clean, thorough appraisal work and have been for a long time.

 

[Pamela Crowley (Florida)]

Leon is calling it however. My firms does very little mortgage work. Completely blackballed for good, clean, thorough appraisal work and have been for a long time.

Me too.

 

[Mike Garrett RAA]

As Popeye would say, "I yam what I yam". In this case the property "is what it is". As long as your appraisal will stand up to peer review, let the intended user fight it out with the REALTOR®...not you!