Ghost Rider
Senior Member
- Joined
- Apr 27, 2003
- Professional Status
- Banking/Mortgage Industry
- State
- Connecticut
Got an order to do an appraisal in a condo complex I know pretty well, done a bunch of work in the complex, so I figured "cool, a pretty easy one"
I call the HO, who asks me if I know the complex. I say I've done a couple units in the complex (trying to be conservative - thank god I did) and he says
"well, I know I could put it on the market right now and get $45,000 for it, but a bunch of idiots who lived here have been selling their units for $30,000 - is that gonna cause a problem doing the appraisal"
Now, I know the sound of a homeowner who has probably seen an appraisal come in low, and the bells in my head were going off big time, so I answer to him that I really can't comment how the sale in the complex compare to his, and as I haven't seen his property, or done any of the research, making any kind of an opinion of value would be very premature, to which I get back
"well, I don't wanna have a f*cking appraisal done if you aren't gonna appraise my unit for at elast $40,000, cause thats what it's worth"
I bit my tongue, and didn't ask him why it went down $5K in value in less than a minute, and just repeated that I really couldn't determine value until going through the appraisal practice, to which I get a response I really can't post here without Wayne getting mad at me, let it just be said that there were a LOT of four letter words, and I don't think I heard more than 2 or three words which were not very insulting to appraisers, the people who have been selling in his complex, and about my mother. I listened to the tirade for about 90 seconds, and he paused, and I asked "so would you like to schedule and appointment"..........The dial tone in my ear was pretty rapid........
BTW, I would be shocked if he could get more than around $33K for the unit - highest sale I have seen in the complex was $30K, and that one was TOTALLY redone.......oh well
I call the HO, who asks me if I know the complex. I say I've done a couple units in the complex (trying to be conservative - thank god I did) and he says
"well, I know I could put it on the market right now and get $45,000 for it, but a bunch of idiots who lived here have been selling their units for $30,000 - is that gonna cause a problem doing the appraisal"
Now, I know the sound of a homeowner who has probably seen an appraisal come in low, and the bells in my head were going off big time, so I answer to him that I really can't comment how the sale in the complex compare to his, and as I haven't seen his property, or done any of the research, making any kind of an opinion of value would be very premature, to which I get back
"well, I don't wanna have a f*cking appraisal done if you aren't gonna appraise my unit for at elast $40,000, cause thats what it's worth"
I bit my tongue, and didn't ask him why it went down $5K in value in less than a minute, and just repeated that I really couldn't determine value until going through the appraisal practice, to which I get a response I really can't post here without Wayne getting mad at me, let it just be said that there were a LOT of four letter words, and I don't think I heard more than 2 or three words which were not very insulting to appraisers, the people who have been selling in his complex, and about my mother. I listened to the tirade for about 90 seconds, and he paused, and I asked "so would you like to schedule and appointment"..........The dial tone in my ear was pretty rapid........
BTW, I would be shocked if he could get more than around $33K for the unit - highest sale I have seen in the complex was $30K, and that one was TOTALLY redone.......oh well