Can't Make Value, Charge A Trip Fee?

[Bill Wintermyer]

Good point Pam, why not have a realtor or broker do the assignment instead of an appraiser.

 

[Chris Colston]

You could be sitting at lunch or the neighbor holiday party and "friend" asks about a particular house. You write a number on a napkin and slide it to your friend. You had beter get back to your office real quick and create a work file cuz you just did an appraisal!!

FORM does not matter, type of form does not matter. Content, as in VALUE OPINION is what matters.

 

[DB]

I have no idea .... Supposedly it takes the place of the LO going out and looking at the property ... we do the leg work and make $75 .... We do sign them as being USPAP compliant ... but I know people who don't ....and I know people who have their wives sign on them because they are not appraisers ...but like I said .... We don't follow those practices ... We complete them like we are supposed to ... Look back at my original post ... They can be done either way, but an appraiser has to sign them as USPAP compliant ....

 

[DB]

I understand and agree Chris ... That was one of the first things we learned in appraiser school .....

The appeal to the bank ... in my opinion ... is that having a USPAP complaint evaluation in the file, signed by an appraiser, strengthens their paperwork for the loan that they were going to make anyway .... Full appraisal not required, but they want something in the file .... Just speculating on that part ....

 

[Pamela Crowley (Florida)]

I figure that if thay want something like that with an appraisers signature, they should be ordering a 2055 drive-by. No way I'd want to try to make that form USPAP compliant.

 

[Ed]

This exact same thing happend twice this week in our office. A client that uses us very rarely, maybe 3 time a year, faxed an order to us. We accepted the order, then we got a call from the LO a day later asking us if we set up an inspection appointment and to inform us that it will be COD made out to the client. RED FLAG #1! Then the LO asked us to let them know if value would be an issue, if so, notify them and they'll cancel the order or re-asign it to someone else. RED FLAG #2! Then they said they will pay a trip fee if value was an issue.

We proceeded to let them know that they are messing with legal issues and our fees and time are not predicated on the outcome of an Appraisal. We politely asked "Do you want us to do an Appraisal for the predetermined fee we agreed on or not". They said yes, but only if it makes value. WOW! We decline the order and had them re-asign the order.

We are considering taking action, but don't know where to start. I'm sure the Appraisal Board would like to see this, but we'd like to get in the hands of the Banking Industry some how. Any suggestions?

 

[Jungle Boy]

Hi Ed !

Don't have any suggestions for u, but wanted to say Hi.