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Can new NC lender pressure laws be used against homeowners?

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Doug in NC

Thread Starter
Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
A homeowner has threatened that he won't pay me for an appraisal that I had done, because he didn't get "the figure that he wanted". If the recent lender pressure legislation includes pressuring homeowners, I would like to inform this guy of it.

I realize I can probably use this against the lender, but I would like to try to get some new business from this potential new client. They really are not at fault here. If I do force them to pay, I can be assured they won't be ordering anymore appraisals. :?

Bob Ipock: If you could post a useful link on this, I would appreciate it.
 

David C. Johnson

Senior Member
Joined
Jan 15, 2002
<span style='color:darkblue'>Doug in NC,

You write:

A homeowner has threatened that he won't pay me
for an appraisal that I had done, because he didn't get
"the figure that he wanted."


I am also interested in hearing what Bob may have to suggest, however, I want to point-out something myself that may not have occurred to you yet. There may be more at stake here than you realize.

Clients and/or property owners (and anyone else with a copy of an appraisal report) have Extortion Power over NC Appraisers as granted by the North Carolina Appraisal Board (NCAB).

It is unlikely I will be "spilling the beans" as I doubt your homeowner reads this forum. If they are already aware of their rights, this post should not make a difference anyway.

The homeowner has it within their power to extort you out of the fee and/or "encourage" you to provide a higher value by suggesting to you that they may turn your report over to the NCAB if you require them to pay and/or do not change the value. By now, this is a significant problem in NC, and it has very likely affected some appraised valuations across the state.

Our current appraisal board is both inept and corrupt (e.g., they often do exactly the opposite of their sworn duty). If there is a call to the NCAB about you, the NCAB is likely to get a copy of the report. If an investigator decides you are guilty or wants you to be found guilty, you are guilty.

The competence of your appraising makes no difference. Evidence has been manufactured in the past. Even since being Publicly Busted, they continue to get away with it. They still have the same power as before and even less compunction to perform lawfully or ethically as that which they had to hide is no longer hidden.

www.boardwatch.org/htmfiles/complainttext1.htm

(above URL takes a minute to load)

At any given time, chances are someone can blindly dash across the highway with no problem at all, but there's just no telling when a couple of semi-tractor trailers may be coming through...

A risk exists. Simple as that.

David C. Johnson, Raleigh, NC
www.boardwatch.org</span>
 
Joined
Jan 16, 2002
Professional Status
General Public
State
North Carolina
Doug

If your client was the lender and he asked you to collect from the property owner who now will not pay, you should not feel bad about going to the client and saying "I tried to collect from the property owner, you are still on the hook. "

If the client will not stand behind his "order" when you delivered the requested service, the client is best removed from your "good client list" and put on the "dead beat list".

Regards

Tom Hildebrandt GAA
 

Steven Bonner

Sophomore Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
I will just reinterate what Tom has said. If your client is the lender, he is responsible to pay for the work he requested from you. If the lender is your client and refuses to pay for this you don't need any more business from them. Send them a letter that you intend to list them on the DEADBEAT list and file in small claims court. If the borrower is your client you should have gotten paid up front. The reason is simple, to avoid this result. Send them a letter stating you provided your service as agreed and that you do not sell values and that you intend to file in small claims court and will report them to the credit bureau. In the future always, without failing, collect up front from individuals and new companies that have not established credit with you.
 
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