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I am being reviewed (maybe)

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
Good point and that occurred to me...any of us are likely reviewed at times - different cause I did know about it and they tried to send me the assignment for review !

I could have accepted, reviewed my own report ( if mine was it) wrote OMG this is the best appraisal I have ever read ! It is so amazing I feel unqualified to review it...lol...then they see my name as same.
Those are called post reviews. Value is rarely the issue it's normally about quality or not meeting investor guidelines. I would not worry unless it becomes a push back and even then your probably fine. What appraisers do not understand is value is not the big issue today its the lender making it fit into the UAD box.
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
its the lender making it fit into the UAD box.
So, explain how you fit the round peg into the square hole.
Or is it a square peg and round hole?
No matter, power tools are your friend. :D
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
I don't think that most appraisers realize how many times their reports get sent out for review. A buddy of mine was recently asked to do a review of one of my reports. It was offered as a desktop review, most likely for compliance on the lender's part and he was offered $200. He e-mailed me joking about it and said he wouldn't do it for $400. It was a 53-page report for new construction on 10 acres.
 

KeyWhiz

Member
Joined
Dec 9, 2007
Professional Status
Certified Residential Appraiser
State
Nevada
Aren’t a certain number of reports pulled for review just randomly? I don’t do many reviews but I’ve certainly come across a few where I was hard pressed to find anything wrong with it other than maybe what were most likely typos.

I was asked to do a review on my own report just recently. Someone didn’t bother to check apparently. I declined it.

I also get asked to issue a “rebuttal” to a review once every couple of years. Those are never fun, but I’ve always felt confident defending my work. I’ve never heard back on an appraisal after I’ve submitted a rebuttal so I have no idea what happens to them after that.
 
D

Deleted member 128537

Guest
I get asked to do reviews on appraiser friends from time to time. I turn them down simply because I won’t review a friend. I’m sure they get the same calls. The only time I have done a review on a friend is when I was told to me this is just a random quality check SOP. I told them right up front the OA was my friend. I even called up my friend and told him and he didn’t care. And the lender didn’t care as long as I could be objective. And since it wasn’t a report I had to be afraid of I looked at the report. Found nothing really wrong. But 9 out 10 times when I get asked to do a review it is when something is really askew. But there are times when I know I get reviewed if I do really complex properties. It is a way to get a second opinion. I remember one time I got reviewed and the lender said it was the first time he’d have seen a review come back totally clean. The reason for the review then was not because there was anything wrong on the report. They just wanted 2 eyes to look at the property and the value. So being reviewed can happen for lots of reasons.

I do remember getting reviewed one time and the RA disagreed with my opinion of value by $5000 on a $170,000 house. The lender contacted me and I told them to go jump in a lake. I would NEVER disagree with an OA over that kind of amount; especially in my area. Heck we think if 2 appraisers go out and are within 10% that’s good in my area. But that’s probably because I did some reviews on this appraiser and frankly his work stunk. He was not a friend of mine, and he made the most dumb adjustments ever; like $500 per year difference in effective age on a $300,000 house. What the heck? His entire report was full of adjustments that either didn’t need to be made or had no reason as to their extent.
 
Last edited by a moderator:

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
I was asked to do a review on my own report just recently. Someone didn’t bother to check apparently. I declined it.
Maybe accept and send them a note re: the Ethics rule and your prior service. What will they do? :leeann2:
Cancel I suppose. :leeann:

I have not done a rebuttal in hmm, a few years I guess.
ROV that I shoot down does not count.
Rebutals are a pita. If I do one I am KILLING it. Extra coffin nails.
 

KeyWhiz

Member
Joined
Dec 9, 2007
Professional Status
Certified Residential Appraiser
State
Nevada
Maybe accept and send them a note re: the Ethics rule and your prior service. What will they do? :leeann2:
Cancel I suppose. :leeann:

I have not done a rebuttal in hmm, a few years I guess.
ROV that I shoot down does not count.
Rebutals are a pita. If I do one I am KILLING it. Extra coffin nails.
IIRC I said something like “I’d be happy to do it, but I just did this property a few weeks ago. Their report is probably mine?”. It was in a rural area where I might be the only guy even willing to go out there in the first place. I’m probably the only name that pops up on their list lol.
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
It was in a rural area where I might be the only guy even willing to go out there in the first place. I’m probably the only name that pops up on their list lol.
So, the competition is brutal, you say? :leeann2:
 

KeyWhiz

Member
Joined
Dec 9, 2007
Professional Status
Certified Residential Appraiser
State
Nevada
So, the competition is brutal, you say? :leeann2:
Let’s just say I don’t see Bifurcated Appraisals becoming much of an issue in some of these areas anytime soon. :LOL:
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
You probably get reviewed more than you ever realize. So why is it different if you know about it?
call me weird but I think it would be good to always be able to talk to the reviewer before the review is completed.
 
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