Desk Review & 2 new comps...in your dreams.

[Paulette in Texas]

Poor young lady called and asked how much for desk review & 2 new comps for rural area where previous appraiser turned in older sales & greater distances. My response went something like this. "You've got a crap appraisal, which didn't pass your underwriters review up there, so now you want us, down here, to basically review the other appraiser's work in order to determine what new comps should be included and Oh, yeah, basically sign on to his evaluation or opinion." Now what part of this don't you get? you want 2 jobs for the price of the "blue-light special." Are we just being obstinate in that we will NOT do desk reviews with 2 or any other number of new comps? We will do FIELD reviews and will charge accordingly. I told the young lady that next time use a better appraiser. They got what somebody obviously paid for. If the other appraiser didn't sell it with enough explanations for the older sales followed by greater distances to the appropriate comps within 12 months, then shame on them. KNOW your appraiser kind of says it all.

As an update: We had home fire 7/15/02 which destroyed our 4 year old rv, threatened our new offices/quarters and a chunk off the side of our house...but the firemen were great. They put it out, saved the house and even entered with 3 Rottweilers, Shih tzus inside to make sure that they were okay. And life just keeps getting better & better. We're now remodeling and have ripped out our entire kitchen, breakfast, dining wing. Rotts, rule and go w..shih tzus holding on. Paulette in Tx

 

[Pamela Crowley (Florida)]

Paulette,

So sorry to hear about your fire. Great that all are OK. What a way to get a new kitchen! I was wondering where you've been.

Re reviews, they take a lot more than a regular appraisal so charge accordingly. I turn down some because they won't pay enough. Some, if they will tell me the name of the appraiser, I would do really cheap though - so I could have the ammunition to turn in to the state. Those are the ones that are ruining the reputations of all appraisers.

 

[xmrdfghap]

Paulette, good to hear you are maintaining standards and educating desk jockeys. Sorry to hear about your losses, but as it is things it can be replaced.....thankfully all the family came through unscathed.....and having a new kitchen can be a lot of fun :lol:

 

[Restrain]

Paulette - never mind about the kitchen - WHAT ABOUT THE RV? You've got to keep your priorities straight. Seriously, glad it wasn't worse. At least you'll have a remodeled home with new kitchen for the holidays.

As to the desk review, we provide them and add additional comps but do not state whether they are any better because we haven't seen the property. In most cases, there weren't any better comps and say so, generally because the additional comps were further away than the original comps. It's just a check most times. However, I have one client that we do these for that when it becomes obvious that there's something wrong, we call them and it becomes a field review. Its all a matter of the clients' needs.

 

[BarbaraNJ]

Paulette:

Happy to hear that you and the "puppies" are fine; sorry to hear about the fire........as if the loan officers didn't give you Enough Stress!!!

About the so-called desk review. Your instincts are Right On !! The lender has an unacceptable appraisal, and cannot pass on the loan based on the garbage report on the property. Now they want You to (1) correct someone elses' mistakes (2) take full responsibility for someone elses' work (3) do as much--or more-- work as the original appraiser for less than a full fee.

And if I had to guess, they want it "yesterday", too.

There is only one disturbing thought. Sooner or later, they will find some appraiser who will agree to do it.

Good to have you back posting....

 

[wyecoyote]

Good to hear the dogs are fine. To bad about the fire.

Reviews,

I agree with pretty much everyone else. We charge just as much for a review as we do for a URAR. To much work on most files. Desk reviews we charge about 2/3rds of the field review fee.

Ryan

 

[Paulette in Texas]

Thanks to everyone for asking. Rv was a total meltdown loss. It only took Farmers 6 weeks to figure that out and settle. As to the house, it was primarily smoke damage. And just the mess from it. Minimal exterior damage. We're still waiting on farmers to settle it up. Our attics took so much smoke and then some water so all insulation had to be removed and....on it goes. Insurance in Tx right now is really a mess. We are now on a black list for insurance because of this & previous Allison storm plus hail storm... Have a great one. P.S. Kitchen was planned and it's from our pocket. Good neighbors were just a tad too quick to call fire department. But I took them wine and flowers for saving the rotts. Paulette in Tx

 

[Mike Garrett RAA]

When life hands you lemons....make lemonade. Lets see, new RV, new kitchen...can't be all that bad! I am sure it's a hassle but sure could have been worse. Nice to see you back on the forum.

 

[Blue1]

Paulette:

Glad you and your loved ones came out unscathed. Hopefully, you'll end up better that before the fire. Missed you here and the forum.....welcome back! :lol:

 

[jtrotta]

Paulette
to bad about the burnings of old; so lets git to the meat of the quiz-

sounds like the young lady should have gotten; "hold on a minute, your saying older comps & distance beyond acceptance" - no review necessary, you need a NEW appraisal, that'll be $xxxxxxxxxxxxx - and will be collected at the time of inspection.

Thanks for calling, we appreciate the bniss :wink:


8)