COMP CHECK SHEET

[bobburnitt]

Almost never have a problem with a purchase. But refinances............well ya know how they are about them.

BB

 

[Blue1]

Richard,

I doesn't seem to matter whether or not you do a comp check or not, someone will always try to "back you into a corner." If it's not the LO, it's a RE agent or even a borrower. However, you're right, why give the more fuel for the fire? (so to speak) I do comp checks rarely. Somtimes to GET OUT of doing an assignment. :twisted:

 

[jtrotta]

Mike G

heres my new ad in Your yellow pages to take away the #1 position your in;

8O "Absent Minded Appraisal Company" :lol:

8)

 

[James Bourgeois]

I received a "comparables request" this week, my first in 2 years. All the lenders I work for know I don't do those and refrain from asking. A loan officer from out of town sent me this one. I responded with a nice little note "If you want to know the value, order an appraisal." Have not yet received an order from him.

Don't expect one, because some ethically challenged rookie appraiser around here who's short of work will surely give the LO what he wants, get the assignment and try to hit the target value, which was probably close to double the actual worth of the property.

This points to a real and growing problem in our profession, the lack of ethics and real professionalism on the part of many new appraisers. In this area, most of the new appraisers are getting their training from number hitters because they are the ones who do high volume. Most honest appraisers are just holding on, or phasing out of mortgage work entirely.

We're going to reach the point where stories like Joe Bob's in Houston will be commonplace instead of an occurrence that, in its rarety, draws interest, even in a forum for appraisers.

 

[Mike Garrett RAA]

"AAA Appraisal Services".....Always Accurate & "As" Requested! Or, "Almost an Appraisal Anyway".