Mile High Trout
Elite Member
- Joined
- Feb 13, 2008
- Professional Status
- Certified Residential Appraiser
- State
- Colorado
Just revise the report and leave the dates alone. Tell them the final will be 150 to 250, non negotiable rate.
Make it c4, with subject to and itemized list of corrections, with accompanying statement a 1004d to verify all repairs completed by you personally, will be necessary for your report notations of C4 to be validated. Make special note that although you've rated c4, it is really a c6, until such time as repairs are completed.
Government bureaucracy at it's finest. Well, not it's finest, but they're always working hard to assure the bureaucrats have something to do. Not necessarily something productive or helpful, just that they keep working, regardless of the logic behind the task.
By forcing appraisers into unmanageable scenarios like this with automatic review systems, they assure that you can be plucked from the approval crowd, if they dont' like you. Just write out lots of narrative, and fill in the specific details of the rating and requirements, right there on the bottom of the main form, just below reconciliation. If I ever have to do that c4 repair nonsense, I plaster the requirement statement in at least 4 or 5 places on the main form itself.
Better way to handle it I've learned, is to quiz the borrower or sales agent or whom ever, before you actually roll to inspection. If there is unfinished work, inform the lender and put it on hold until such time as the work is completed. Screw the stats and all of that. If you focus on stats and grading, you'll get twisted up in a hurry with these new bureaucratic systems all around you. They're all ordering appraisals ahead of time these days. Just ask about the rate lock and let them know about how these deadlines play out. Schedule them in.
Make it c4, with subject to and itemized list of corrections, with accompanying statement a 1004d to verify all repairs completed by you personally, will be necessary for your report notations of C4 to be validated. Make special note that although you've rated c4, it is really a c6, until such time as repairs are completed.
Government bureaucracy at it's finest. Well, not it's finest, but they're always working hard to assure the bureaucrats have something to do. Not necessarily something productive or helpful, just that they keep working, regardless of the logic behind the task.
By forcing appraisers into unmanageable scenarios like this with automatic review systems, they assure that you can be plucked from the approval crowd, if they dont' like you. Just write out lots of narrative, and fill in the specific details of the rating and requirements, right there on the bottom of the main form, just below reconciliation. If I ever have to do that c4 repair nonsense, I plaster the requirement statement in at least 4 or 5 places on the main form itself.
Better way to handle it I've learned, is to quiz the borrower or sales agent or whom ever, before you actually roll to inspection. If there is unfinished work, inform the lender and put it on hold until such time as the work is completed. Screw the stats and all of that. If you focus on stats and grading, you'll get twisted up in a hurry with these new bureaucratic systems all around you. They're all ordering appraisals ahead of time these days. Just ask about the rate lock and let them know about how these deadlines play out. Schedule them in.
