C5 at inspection. Lender wants appraisal changed

[CANative]

Challenge them to send their thoughts via email.

 

[Ca Ar Independent]

Challenge them to send their thoughts via email.

I referred them to their own policy:

"It is not acceptable for anyone in any XXXXX Bank business line to contact the appraiser directly to discuss any change in value or to ask for a revision such as changing a fair condition to an average condition. If you get any type of contact like this, refer them professionally back to XXXX. If they persist or want to clarify or further discuss please notify XXXXX. We will address the individual issue as needed."

Want to puke even more since the calls were from higher ups more concerned with closing the loan than proper protocol.

Caller # 2 agreed to have someone from the appraisal department call me.

is there a little smiley that's puking?

The sad part is that by doing what's right, will most likely get me removed from the panel. m2: uke:

 

[CANative]

The verbiage in that warning sounds really familiar.

 

[MRB]

Just got a call from the lender. They are not concerned that the property may have structural problems & may fall down on the heads of the borrower. They are only concerned that the report is not C4. WTF? I want to puke. I don't know why I'm even working on my license renewal.

Its because they sell it to Fannie and let the taxpayers and E&O insurers sort out the aftermath

 

[Riick]

"This time it's different"! NOT !
WOW...... My new lithium-powered combination wristwatch /cellphone /time-machine really does work.

I think this must be

2003

or
2004
​

or
2005
​

or
2006
​

or
2007
​

====================

The one I remember best is:

"Did you HAVE to take a picture of that crack in the foundation?"

.....Sigh....:new_all_coholic:

 

[huntercharlie]

Just got a call from the lender. They are not concerned that the property may have structural problems & may fall down on the heads of the borrower. They are only concerned that the report is not C4. WTF? I want to puke. I don't know why I'm even working on my license renewal.

Can you please advise us as to who this Client is? That way we can all stay far, far away.

 

[Non Sequitur]

The repairs called for would NOT make the home "adequately maintained".

Then what was the point of the "subject to" a long list of repairs?

The report was C5 "subject to" the above issues/health & safety.

Reads like a C6.

The home would not be a C4 once repaired.

Again, what was the point of conditioning your opinion of value "subject to" a list of significant repairs, that when completed, wouldn't improve the condition of the subject?

If the pool is filled and "J S" contractor says "eh, it's ok" (which I cannot verify BTW) the time machine does not go back and make the home a C4 subject to repairs.

It's not about a time machine. When you condition your opinion of value "subject to" the subject being repaired, the condition of the subject in the report should reflect what the condition will be once the repairs are finished. If the repairs do not change the actual condition or value, then what is the point of the repairs?

Thanks all. What I have recently discovered is that although I was trained to think "we are the eyes and ears of the lender" , now it seems that it has become "we will do whatever helps them close the loan". I can't play that one.

Expecting an appraiser to deliver a report that makes sense is not "we will do whatever helps them close the loan."

My days may be numbered as I run out of clients that want things to be above board. I can't turn my head from health & safety issues so that everyone can move on (and someone move IN". Heavy sigh. Ok..back to the CE units.

Again, reads like a C6. Choose those CE units wisely.