Appraisal Musings

[Tim Hicks (Texas)]

"You have a rush order? I thought all appraisal orders were rushes? I will just put your rush order ahead of all these other rush orders, because you deserve it and because I don't even know you."


Lack of preparation and planning on the loan officer's part does not constitute a rush on the appraiser's part. (Don't repeat that line, it only makes them mad!)

Hi, I am zzz at zzz mortgage five states away and I need a rush appraisal. I was told you were the appraiser to call. "Fine, I have never heard of zzz mortgage and I will complete a rush appraisal for you as soon as I receive a check from you paid in advance." We don't operate that way? "Neither do I! What, no good-bye?"


"We have a pay at the door appraisal for you. We were told that if you could not get the value we need, you would stop and refund half of the appraisal fee." You weren't told that by me.


"The borrower will pay you $150 at the door. If you can get the value we need we will collect the rest at closing"

That is just this week folks.

Any more?

 

[John SRA]

My personal favorite is,

"I really don't need an appraisal, I just want to know what my property is worth."


JC

 

[Pamela Crowley (Florida)]

Dang, Tim! I'm so blackballed by so many that I rarely get those calls anymore. Makes me feel left out.

 

[Wally Jones]

This morning's first phone call:

"Our underwriter says she has never seen such a terrible appraisal. Can you just fax us the changes we need since we're going to closing at 3:00 today. You can send the revised report later. Thanks a bunch!"

---->About to join Pam's "Blackballed Brigade".

8)

 

[Pamela Crowley (Florida)]

Wally and Tim,

I'm actually starting to enjoy it. The 2 I went through this past week makes me really appreciate my loyal clients that appreciate my work. (Even though #1 client appears to be doing most of their loans on AVMs and sending me only the oddballs - it's making my 'average' fee over $400) Some litigation work is coming in now and then. I'm no longer overwhelmed with too much work, my fees are high enough to take up that slack and I'm starting to give myself up to some pleasure time. Now if I could just get all that dam* accounting and filing done. I really hate doing that so it does pile up.

I'm doing this MY WAY. With attitude! 8)

 

[Chris Harrison]

Pamela, I like your additude!! Makes being an appraiser worth while.

I now turn more work away than I complete and I'm still making a living. Never wanted to do 10 appraisals a week any way. The legal work is more fun and the pay is better. REO's are less pressure and reviews are more of a challenge.
I still get a few requests from the odd ball broker or old client that needs that special rush! When I give them my rush fee (two or three times the normal fee), they generally tell me they'll get back to me.
This is one of my most recent junk calls.

Request from a mortgage broker .....”We need to close this loan today and the appraisal we have is by a non approved appraiser and we just need a supervisors signature. I’ll bring the originals to your office and give you $50 cash just for signing it. You are located here in Salt Lake right?”

No I’m in Orem and I’ll need to do a new appraisal if my signature is going on the appraisal.

“No you don’t understand! I have an appraisal and all I want is your signature! Can you meet me half way at the point of the mountain and we can do it right there. I’ll give ya $100 cash.”

Where did you get my number and who the hell is this?

“I’m ‘Joe the small time broker’ that was faxed a copy of the Banks approved appraisers list and I’ve been trying all day just to get a simple signature! Seems all the appraisers on the list have the same arrogant A**h*** attitude!”
Click!

The problem is that I'll bet he finds someone that will do it!

Chris

 

[Blue1]

Did an apparisal and the GLA was less than "advertised" in the MLS. Went back with the Realtor and measured again, sure enough, not "as advertised." (Realtor never measured it before listing it) BUT........comps were still good and appraisal came in slightly below purchase price. Buyer backed out loan fell through.

NOW the same buyer is buying another house and I'm doing the appraisal for that one......They want me to "cut" my fee? NOPE!

 

[larryhaskell]

C'mon Blue, you already know the borrowers, shouldn't it take you less time.

 

[Bemis Pownall]

I have made so many friends this week due to all the rushes they need oh boy..

Can you believe Bigbrother voted off a Real Estate Appraiser this week??

Got carpet today Im soo happy!
but now the doors dont fit....

 

[J in Florida]

"I need you to call this lady and see if you can get $122000 for her house. If you can, then you can do the appraisal. I'll be frank, I've got another appraiser who promised me $120000"

"Can you drive by my friends house and tell her what she can get for her house? She doesn't need an appraisal, she just wnats to know what she can get for it"

"I've got a PROBLEM with your appraisal. You need to take that part off about the exterior being unfinished. Our investor won't do the deal with that on there. Can I pick it up this afternoon?"

"Why do you need to get inside the house? We're wanting to do this as a lot loan!"

"All the appraisers I know say its ok not to pay if I don't get the value I need"

And this is just from this past week.

:evil: :evil: :evil: