How would you answer this?

[Reelestate]

Lender forwarded this email to me from an agent at a new beach front condo about to be completed:

It appears we will be ready to close existing sales at zzz in September and the Developer wants me to find a couple lenders whose appraiser positively agrees ahead of time with the price. zzz is located at the popular west end of the beach.

The prices are as follows:
2 Bedroom interior units $X
2 Bedroom end units $X
The three bedroom units are $X
The Four bedroom units are $X

If you are interested in being a Lender of choice, I will need for your appraiser to actually look at the project and do an appraisal that will show the Developer whether or not he can close the units already sold at the above mentioned prices.

 

[Lee Lansford]

My response?

I would make certain that the request received wide exposure.

 

[woodyva]

If you dont turn that SOB in you are nuts. Go to NAR, the state appraisal board, FHA, FNMA, the local news media. Burn their @$$ to the ground.

 

[Bama Bayou]

Run Forrest, Run!!!!!!

 

[JENIFFERW]

I absolutely can't believe that these people are still trying to do this stuff. I mostly see it with builders now too. I have been fortunate enough to be able to go and do the jobs, and just bring them in for what they are really worth. It sounds like they are still trying to bribe you to lie though. Do they really just not care that our country is in deep trouble, not to mention the FBI, OTS, etc., etc., etc. are investigating everyone and arresting them? You actually have something in writing, which is rare. You SHOULD turn them in. Forget about working for them, or making any dirty money from them. Read Bearslide's thread "My profound thanks" under improving the profession. I think someone's quote comes to mind that says something like... evil prevails when good men do nothing... It is not something that you should just consider somebody else's problem. You know about it, you have proof, and you are supposed to be ethical. This is destroying people's lives, and our country. Do the difficult but right thing. I know how hard this can be, but you really need to do it. We wouldn't have to face these things if we all would stand up to this. You always want to be able to look yourself in the mirror. This is a test of whether or not you are truly ethical?

 

[George Hatch]

The appraisers are the ones who go to jail in these schemes.

 

[Mike Kennedy]

do an appraisal that will show the Developer whether or not he can close the units already sold at the above mentioned prices.


Sure......no problem .....after all He has Contracts......!!!:new_smile-l::new_2gunsfiring_v1:

 

[Diego Lopez]

Looks to me like you have 4 appraisal assignments; Tell them to know wether or not the price are reasonable you have to do an appraisal on each unit first. Collect COD and do it as you would do any other appraisal, if it comes in at the price they want fine, if not, its fine also.

 

[Karl]

IF you don't forward that E Mail to various individuals that I have mentioned in various threads in past 10+ years, do NOT complain about how bad the Appraisal profession is.

Of course you could take the other advise do the Appraisals & THINK no one is doing anything about it.

 

[woodyva]

Karl:

Good point, but you forgot to mention that one may want to get their affairs in order. Never know when that knock on the door has a warrant on the other side, LOL.