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Comp checks and pencil searches - again

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Pamela Crowley (Florida)

Thread Starter
Elite Member
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Anyone else getting these requests again? I hadn't had much of these in a long time and now I've been getting about 2 calls a day for them. Had one that simply hung up on me today when I tried to explain that it's not legal for me to do this without a USPAP compliant file for that appraisal job. Of course, all of them are from some off-the-wall, never heard of them before companies. My regulars know better.
 

Frederick R. Ruffell

Senior Member
Joined
Jan 21, 2002
Professional Status
Certified General Appraiser
State
California
Yeah,
There are those that are asking for "comp checks" and the response to the illegal statement is something like "well none of our other appraisers have said anything about it being illegal" and my response to that is " well it may be you want to use one of them on this assignment."
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Maybe it is because they are having a hard time getting their numbers lately, or their pet appraiser is no longer available. :wink:
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
:lol:
Got a call from a lender (for whom I will do no work - a leetle slimy) asking if I'd sucessfully refi'd my house... Answer was yes but whatcha got.

They must be getting hungry or scared if they are pulling 6 month old files and reworking them :?
 

Bill_FL

Senior Member
Joined
Aug 23, 2002
Professional Status
Certified General Appraiser
State
Florida
I always wondered why I get those calls. Never heard of the company. They all say they have lots of work in the area. I always asked first, "Then why arent you calling who ever you have been sending all that work to?"
 
Joined
Jan 16, 2002
Yea, same here and ditto all postings so far. It's amazing that it's ALWAYS
(100 % of the time) some fly by nighter who nobody has ever heard of.
While on last call, I happened to be on computer, and feed-in address of
property they were calling about - presto - it was some hubble on the other side of the tracks worth about $100,000 less than they were looking
for !
 

Christopher Lauver

Freshman Member
Joined
May 6, 2002
Professional Status
Certified Residential Appraiser
State
New Jersey
I have recently had a number of requests for "comp checks". I've never had this type of request. I must say it sounds like they are fishing for a value. Can anyone direct me to some verse that states anything regarding this practice, so I can explain the legal ramifications of this practice to the lender?.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
P.S. Not only is "giving a pencil range" considered to be an appraisal, it is not a wise business practice.

I just tell them that I can't since ANY range IS considered to be an appraisal. And I am in the service bizniz of selling data. If you want to buy my data, send a request.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Contrary to popular belief....It is not illegal! It is; however, not very smart, poor business practice, a good way to get your ahhhhhhhh thingy in a ringer, and a BIG WASTE OF TIME!

TIP OF THE DAY

Merry Christmas!
 
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