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Comp Check Request from an appraiser

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Bruce Lennick

Thread Starter
Sophomore Member
Joined
Mar 1, 2006
Professional Status
Certified Residential Appraiser
State
Washington
I received this today and just about fell over: I expect this from a lender but an appraiser????

"Hello. We are **** Appraisals located in Aurora, CO and ran across your website on Alamode. We have a possible conventional order located at:



xxxx S. Mariam Ct.

Spokane, WA 99206

Estimated Value: 225-230K



Can you please comp and let me know what you think?

What is your charge and would you be willing to work on a fee split with us?





Sincerely,



Clark E****

**** Appraisals, Inc.

O) zzz.464.xxxx

F) zzz.464.xxxx

C) zzz.886.xxxx" :Eyecrazy: m2: :beer:

Merry Christmas to All
 
Last edited by a moderator:

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
I think you're supposed to redact names and numbers of the guilty parties, per forum rules.

Otherwise, I think they are idiots.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
My guess is they aren't appraisers, just a cleverly
disguised AMC.
 

Bruce Lennick

Thread Starter
Sophomore Member
Joined
Mar 1, 2006
Professional Status
Certified Residential Appraiser
State
Washington
Names and numbers

Please dis-regard the names and numbers of the original post, my bad!
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
I wonder what their work file for out of state, 48 hour appraisals looks like? Or are they just forwarding the comp check appraisal prepared by the hapless appraisers who respond to them?
 

Ed Falkowski MAI SRA

Senior Member
Joined
Jun 25, 2007
Professional Status
Certified General Appraiser
State
Pennsylvania
I got an identical e-mail today!

"
I have an order for an investment property located:

12 E** Court
N**, DE 19***
Estimated Value: 300K

What is your charge and would you be willing to work on a fee split with us?
Do you pre-comp before scheduling inspection?
What is your turn time?



Rush Appraisals
10730 East B******* Road
Suite ***
Aurora CO 8****
*******@go4rush.com

Here was my response:

"
*******,

I can take care of this order and here are my answers to your questions:

1.) My fee is $5** for an investment property (URAR with rent roll and operating income statement). Whatever you decide to charge the borrower is up to you but that is the fee that I charge for my services. I also, under no circumstances,
release the appraisal until a check is received by my office.

2.) Pre-comps provide a direction of value and are a violation of USPAP, therefore, my answer is no.

3.) My turn time is typically 48 hours after the inspection.

Please let me know. Thanks!
 

Ed Falkowski MAI SRA

Senior Member
Joined
Jun 25, 2007
Professional Status
Certified General Appraiser
State
Pennsylvania
Oh, then funny thing was the the property was the only one in the development to sell in the past 6 months and the people bought it in July for $224... nothing like 30% appreciation in 5 months, I always say! :icon_mrgreen:
 
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