If not comp checks.then what?

[TXCBoy36]

I find it interesting to read everyones views and positions on anything that pertains Comp checks. The one thing that I do know, which no one on here can get around. Appraisers that maintain a business Appraising Residential properties are doing these comp checks or at least most of them are by what I have witnessed and hopefully doing them in a manner where there has not been much recourse for doing them.

I do agree that if you give a value range for a particular address then that is definately an appraisal per USPAP regulations. So, if you want to maintain business and be competitive then you need to offer a good service to your customers.

I totally disagree with the ones on here who do not ever do them no matter what....keep up the good work....allows other appraisers to get their business.

For those out there that do these, be sure and make sure you are following the regs.

JC

 

[Nathan Slaman]

Denis thank you for your response. I will check the information you have given but please explain how this lender sent out a realtor to do a cma on my house. Can it be done by an appraiser if not acting as one? And dont worry about me being flamed I am a big boy but thank you for responding kindly.

 

[Mike Kennedy]

I find it interesting to read everyones views and positions on anything that pertains Comp checks. The one thing that I do know, which no one on here can get around. Appraisers that maintain a business Appraising Residential properties are doing these comp checks or at least most of them are by what I have witnessed and hopefully doing them in a manner where there has not been much recourse for doing them.

I do agree that if you give a value range for a particular address then that is definately an appraisal per USPAP regulations. So, if you want to maintain business and be competitive then you need to offer a good service to your customers.

I totally disagree with the ones on here who do not ever do them no matter what....keep up the good work....allows other appraisers to get their business.

For those out there that do these, be sure and make sure you are following the regs.

JC

Kindly provide the OP and the other Members an example (redacted) of a recent "good service" you performed.

Thanks in advance.

 

[Elliott]

I'll say this slowly. MBs want a guarantee of the value
that the HO needs plus the MBs outrageous fees, so
the HO will get the interest rate he quote based on
a 70% LTV. Come up with the magical value and your
in like Flynn.

AF doesn't like us spouting out values because they
don't think its professional. The AMA doesn't like
doctors doing a diagnosis at a coctail party because
it raises the other doctors insurance rates. No one
really cares about appraisers, but you need them
around when you have to have someone to blame.

 

[Bama Bayou]

I recently had a loan officer ask me why I wasn't listed in the Yellow Pages. I told him that it had become too time consuming fielding calls about comp checks.

It is a service that I don't provide because I'm just not smart enough to appraise properties that I have not inspected, it's bad business (Gee, I'd much rather do a free comp check/appraisal for you than finish the legitimate appraisals requests I have in process from a REAL BANK), and as a practical matter I know it is a just a way to shop for a number hitter.

He just laughed. They do not ask for comps checks-it is against the policy of their bank.

 

[Michael Tipton]

I was just sitting here looking through my email and noticed a familiar AppraiserUSA.com Customer Contact Form message. Of course ist not an order but a "value check" from an out of town LO. Now I dont do these but am wondering, what if you forward the LO with an assessment record...let the draw their own conclusions? Is that breaking or bending the rules? I mean Im sure they will probably find someone that will do the value check, but at least this way youre not giving them the complete "cold shoulder".
Probably only takes 2 minutes to pull one up anyway and its not like Im overburdened with work.

My market had declined to the point that I cannot guarantee a dwelling will appraise at the assessed value. I will not play the LOs game, if they want an appraisal they'll have to pay for it.

 

[TXCBoy36]

Kindly provide the OP and the other Members an example (redacted) of a recent "good service" you performed.

Thanks in advance.

One thing I have learned on here.....do not present to much, unless you are prepared for the onslaught of attacks that follow.

The good service that I have provided is a well thought through appraisal....I do not think it is within USPAP regs to post an appraisal on here.

I am just exercising my right to have an opinion, and that is all it is....an opinion. Its okay if someone does not agree with that opinion. I do my best to follow the regs to the letter to the best of my ability and based on that alone is why I am still in business....I do not personally do these comp checks, as stated. I just find it interesting how ppl respond to the subject of comp checks.

JC:new_smile-l:

 

[Mike Kennedy]

....I do not personally do these comp checks, as stated. JC:new_smile-l:

Why not? :new_smile-l: After all, it's "good service".

 

[TXCBoy36]

Why not? :new_smile-l: After all, it's "good service".

I never said that doing a comp check was a good service....I said that to be competitive you need to offer a good service....that is common sense...i thought.

Doing a quote "Comp Check" could be construed as an appraisal.....if you give a value range for a particular address, then you are giving an estimate of value. So, I do not do Comp Checks.

If you think doing Comp checks is good service, then watch the mail.....you will probably get a letter from an investigator for the Board of Appraisers...doesn't sound like fun.

JC

 

[Mike Kennedy]

Suggest your comments are "barking up the wrong tree". Might also suggest checking my related posts on this subject. :icon_idea: