Don't pi$$off the reviewer

[Chris Harrison]

Go ahead, make my day! I do reviews for a national reviewing company.

Late last night I received a fax from the owner of the company requesting a rush response to a rebuttal on a review I did last week. Seem the lender already funded the loan. He included a faxed copy of the rebuttal. Typically, this company will PDF a copy that works well on my double monitors. I had to wait til this morning for the PDF copy. The rebuttal was a supplemental addendum written in 4pt italic type.

My curiosity got the best of me last night so I pulled out my mighty magnifying glass. That was my first mistake! Yes, I cut the value from $770,000 down to $740,000, identified numerous errors and omissions and provided three new more appropriate comparables. Well, now don’t you know, the appraiser accuses me of malfeasance and incompetence in the first sentence. All because I did not identify by citation the appropriate Standard Rule for each and every USPAP violation.

Couldn’t shut the brain down last night as I contemplated my strategy for the complete and utter annihilation of this idiot’s response. All 4 legal size pages of her touting her superior competence after "almost a decade" of appraisal experience.:new_smile-l:

Sometimes it’s ok not having anything else to work on. So far I’ve cited 26 clear and concise USPAP citations and 8 Utah Supplemental Standards Administrative Rule violations. :new_2gunsfiring_v1:

Yes this will be hand delivered to the State.

 

[Hank Henry]

3.9% difference is not that great especially since (I assume) you did not view the interior... Heck the ERC/relocation appraisers only have to stay within 5% of each other.

 

[The Warrior Monk]

3.9% difference is not that great especially since (I assume) you did not view the interior... Heck the ERC/relocation appraisers only have to stay within 5% of each other.

The difference is not important...but the analysis is.

That 3.9% difference might be important if the subject has been on the market for a year and is now selling for above the list price. Then it turns out the reason why is that the contract is packed with concessions. No analysis of the listing was made, and the contract was not reviewed.

Happens all the time.

 

[Otis Key]

Go ahead, make my day! I do reviews for a national reviewing company.

Late last night I received a fax from the owner of the company requesting a rush response to a rebuttal on a review I did last week. Seem the lender already funded the loan. He included a faxed copy of the rebuttal. Typically, this company will PDF a copy that works well on my double monitors. I had to wait til this morning for the PDF copy. The rebuttal was a supplemental addendum written in 4pt italic type.

My curiosity got the best of me last night so I pulled out my mighty magnifying glass. That was my first mistake! Yes, I cut the value from $770,000 down to $740,000, identified numerous errors and omissions and provided three new more appropriate comparables. Well, now don’t you know, the appraiser accuses me of malfeasance and incompetence in the first sentence. All because I did not identify by citation the appropriate Standard Rule for each and every USPAP violation.

Couldn’t shut the brain down last night as I contemplated my strategy for the complete and utter annihilation of this idiot’s response. All 4 legal size pages of her touting her superior competence after "almost a decade" of appraisal experience.:new_smile-l:

Sometimes it’s ok not having anything else to work on. So far I’ve cited 26 clear and concise USPAP citations and 8 Utah Supplemental Standards Administrative Rule violations. :new_2gunsfiring_v1:

Yes this will be hand delivered to the State.

Why does that NOT surprise me?!!! LOL. Got to love those days when some DA who thinks they know it all, and especially more than the experienced appraiser, throws down the glove and draws a line "daring" you! Yee HAH! Next!

 

[Chris Harrison]

Damn David,

You must have reviewed this same appraisal

Give me another round:new_all_coholic:

Otis as you may recall I have a template

 

[George Hatch]

Why do so many people think a review has to name off chapter and verse of the USPAP violations?

 

[Mr Rex]

4 pt type and 4 legal pages, me thinks you have someones attention.:new_2gunsfiring_v1:

 

[Chris Harrison]

George,

Because most have never opened the book and don't have a clue where to find the violations.:new_smile-l:

:new_all_coholic:

Once had a response that there was no such page in USPAP as STD 1-5

:new_all_coholic:

 

[George Hatch]

1-1b; Not commit a substantial error of omission or comission that significantly affects an appraisal;

2-1a: Clearly and accurately set forth the appraisal in a manner that will not be misleading.

That pretty much covers most of the big problems. There's others like sales history or reconciliation or HBU, but if they're a problem it's usually in furtherance of the 2 above. These others are almost too small to keep - just throw them back.

BTW, I hope you're not really planning on playing their game. That's just going to end up looking like a catfight. You said your piece, unless there's something new in the rebuttal I think its better to just reiterate your original points and let the client make their choices accordingly. I highly doubt they're going to be impressed by the format of the rebuttal.

 

[Chris Harrison]

There ya go again George complicating the issue by adding letters to the page numbers

My response is going to be simply reiterating with with page and line numbers :new_2gunsfiring_v1:

Oh and pointing out the admission of readdressing/transferring/cloning the report from one client (the owner) to different lenders several times, which according to her was the excuse for mistakes/errors.