Can I verbally communicate a value the day before the written report is transmitted.

[Dublin ohio]

I've run into this a couple of times, where I have a value, but for one reason or another it will take another day to put together items in the report that are not value sensitive. In the past, I've told the client that I can't give a value until the report is complete. Is this correct? Would the fact that I haven't put together my comparable maps and addenda exhibits or signed the written report yet prohibit me from communicating a value? If I can disclose the value before the written report is complete, am I correct to assume that I would be required to disclose the verbal communication as a previous report when I submit the written report the next day?

On a semi-related note, I've also run into situations where I can tell without a doubt from my comps that the value will not come anywhere close to the purchase price well before completion of the report. Am I allowed to call the client and communicate this fact, without giving a specific value? I'm thinking that the fact that I would say, "you are not going to be anywhere close to the purchase price", makes it an appraisal because the purchase price is a specific number. Is there any way to do this without it being a standards violation?

My question is why would you? What purpose would it serve.

 

[Tom D]

I agree with the group. The lender needs the appraisal to tenatively decline the loan. You will get a rov, so why the hurry to make everyone unhappy. And the pre delivery discussion will do you what good with the now unhappy group.

I have clients gotten before USPAP and hvcc. I could talk to the loan officer all day about anything.

 

[Val]

The second question about the "heads up" call for me applies to very good clients that are ordering appraisals to make purchase decisions. I'd basically be saving them the cost of completing the appraisal in a scenario where I see the comps are nowhere close to the purchase price. Sure, I'd lose some of the fee, but that would likely wash out with future business. I was just wondering if it would be possible to do this and it not be a standards violation since I'd be referencing a value (the purchase price) without having completed the appraisal. I'm thinking no. Just something I've pondered recently, so thought I'd get some confirmation.

 

[J Grant]

The second question about the "heads up" call for me applies to very good clients that are ordering appraisals to make purchase decisions. I'd basically be saving them the cost of completing the appraisal in a scenario where I see the comps are nowhere close to the purchase price. Sure, I'd lose some of the fee, but that would likely wash out with future business. I was just wondering if it would be possible to do this and it not be a standards violation since I'd be referencing a value (the purchase price) without having completed the appraisal. I'm thinking no. Just something I've pondered recently, so thought I'd get some confirmation.

Sorry, but you are the kind of person who ruins the profession for everyone else and makes people distrust appaiers. The main thing we have to sell is our integrity.

Saving them the cost of completing the appraisal? They pay us for our opinion, not to make the deal work.

 

[Dublin ohio]

The second question about the "heads up" call for me applies to very good clients that are ordering appraisals to make purchase decisions. I'd basically be saving them the cost of completing the appraisal in a scenario where I see the comps are nowhere close to the purchase price. Sure, I'd lose some of the fee, but that would likely wash out with future business. I was just wondering if it would be possible to do this and it not be a standards violation since I'd be referencing a value (the purchase price) without having completed the appraisal. I'm thinking no. Just something I've pondered recently, so thought I'd get some confirmation.

Wow. Just wow!!!!!!

 

[Dublin ohio]

The second question about the "heads up" call for me applies to very good clients that are ordering appraisals to make purchase decisions. I'd basically be saving them the cost of completing the appraisal in a scenario where I see the comps are nowhere close to the purchase price. Sure, I'd lose some of the fee, but that would likely wash out with future business. I was just wondering if it would be possible to do this and it not be a standards violation since I'd be referencing a value (the purchase price) without having completed the appraisal. I'm thinking no. Just something I've pondered recently, so thought I'd get some confirmation.

Heck why go through all of that trouble. Just pre comp it before you accept the assignment. SMH

 

[Fernando]

Reminds me of the good ole Mortgage Broker days.

 

[djd09]

I've run into this a couple of times, where I have a value, but for one reason or another it will take another day to put together items in the report that are not value sensitive. In the past, I've told the client that I can't give a value until the report is complete. Is this correct? Would the fact that I haven't put together my comparable maps and addenda exhibits or signed the written report yet prohibit me from communicating a value? If I can disclose the value before the written report is complete, am I correct to assume that I would be required to disclose the verbal communication as a previous report when I submit the written report the next day?

On a semi-related note, I've also run into situations where I can tell without a doubt from my comps that the value will not come anywhere close to the purchase price well before completion of the report. Am I allowed to call the client and communicate this fact, without giving a specific value? I'm thinking that the fact that I would say, "you are not going to be anywhere close to the purchase price", makes it an appraisal because the purchase price is a specific number. Is there any way to do this without it being a standards violation?

do whatever you want...they are just going to waive appraisals in the future so all of hoopla of following so called incorporated standards is just a mirage

 

[Tom D]

Once you have your workfile properly preped you can discuss the value with your non lender clients. If they want a hard copy you got it.

Some of yous are a little too lender oriented. Not every appraisal has to be done full hard copy version, but every value has to be done in full version workfile. Without a wriiten form, i would give a range. No need to prove adjustments.

You are lucky to have expanded your income source. Direct clients can have the value anyway they like served up.

To some of you AMC plantation workers, appraiser life was better before hvcc and USPAP. And payed much better, less aggrevation and minutia.

 

[Fernando]

Once you have your workfile properly preped you can discuss the value with your non lender clients. If they want a hard copy you got it.

You can never discuss the value with nonclients. I always say it's now in hands of client and y'all need to talk with client. It's out of my hands.

Some of yous are a little too lender oriented. Not every appraisal has to be done full hard copy version, but every value has to be done in full version workfile. Without a wriiten form, i would give a range. No need to prove adjustments.

I would say the report belongs to lender and deal with it with lender/client.

You are lucky to have expanded your income source. Direct clients can have the value anyway they like served up.

To some of you AMC plantation workers, appraiser life was better before hvcc and USPAP. And payed much better, less aggrevation and minutia.

You have a problem with my value, nothing I can do.
Talk with the client/lender first and client/lender will contact me. I'm so transparent with the process.