• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Influence of Value

Status
Not open for further replies.

Daniel Williams

Thread Starter
Senior Member
Joined
Jan 14, 2002
Professional Status
Appraiser Trainee
State
Illinois
Ok...we know nobody wants to regulate LO'S or originators. :cry:
How about we just disclose what they do; I'm for manditory (USPAP) discloseuer of ANY attempt to sway or influence value. Maybe with a couple of "fill in the blanks" on the diclosure forum:

Did the Loan origiantor, client or processor offer his (or the home owners) estimate of Value? ___Yes ___No (If yes what was the "estimate" $__________)

Was there a contingency to stop work if preconcived value could NOT be obtained? ___Yes ___No

*If yes to either question please provide Full Name of requesting party and relationship to client. _________________________________________


just an Idea :idea: I get sooooo tired of LO's TRYING to influence value. My(our) income should NOT suffer because I (We) am(are) honest!

I do not create or destroy Value.....I only report it!
 

jtrotta

Senior Member
Joined
Jan 16, 2002
OK, like the idea - what do we do with the document once it's filled out??

If your thinking of sending it to one of the politically driven; ASB; AQB; OSC; AF; Congress; Senate; HUD/FHA; OBC (my favorite) or the SOB club 8O it will just get round filed :(

If you have a better suggestion 8)
 

Ross (CO)

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I have often felt that a standardized order form could be created by, shall I say, the Appraisal Satndards Board, or another responsible party. It would be a form which provides ALL the pertinent key information we need as to 1) purpose of the appraisal, 2) intended users, 3) full client name and address, etc., 4) full property address and contact persons, etc., 5) Form to be used, 6) # of copies needed or EDI address, 7) method of appraiser payment as in c.o.d., invoice 8) space for the agreed fee, 9) a (resonable) due date , 10) printed and legibly signed name of person ordering appraisal and the date it is sent to appraiser. There would be NO line item pre-printed on the form called "estimate of value", and no lines for text about calling if having problem with the value, or stop appraisal if such-and-such value is not attainable, etc. etc. -----Of course, it would probably take 3 years for such a form to be put through all the phases of drafts, review and acceptance, when any one of us could do it in about 30 minutes. That is why you should have your own order form ready to give out which meets all the good info, and has NO place for "estimate of value " to be written, suggested or offered. Oh well, just dreaming.....because clearly there is no one interested about the practice of coercion of appraisers ----except the appraisers who care about not having it happen to them.
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Hey Daniel,

I like the intent, but would sort of expect the round file too.

Doubt it will ever get through Congress or whoever, but I still like the idea of making it ILLEGAL to try and influence the appraisers estimate. Wasn't that the appraisers petition main point?

OK, realistically I doubt either thing will happen. Maybe the LO should not be the one to order the appraisal? :idea:

All three things? :idea:

"Mother should I trust the government?" (Pink Floyd, The Wall.)

Not for your life. :!:
 

slacker

Junior Member
Joined
Feb 20, 2002
Dan,

Just remember. Nobody likes a tattle tale. And what happens when you do hit the number that was submitted as an estimate? Seems like your just adding fuel to the fire. It’s already enough of a hassle when I can’t hit the number. Now I have to worry about being questioned by some anal retentive reviewer because I hit a provided estimate? No thanks.
 

Daniel Williams

Thread Starter
Senior Member
Joined
Jan 14, 2002
Professional Status
Appraiser Trainee
State
Illinois
Slacker,

Read the sugestion again........never did I mention making it Illeagal to provide an estimate, nor do I think i would make us "Tattle Tails".......It would just be disclosure! Are you Tattling if you report the rotten sub floor in the Bathroom? or the leak in the roof causing the plaster fall off in the Master Bedroom?

I get (as we ALL do) realaistic and un realistic "estimates from Homeowners and LO's (prosccesors) all the time........I always ask the homeowners their "Guestimate" when setting the appointment.......guess what.....75% of the time it IS NOT the number that the LO "Guestimated" on the order.

All I am suggesting is that WE disclose any "preconcived" value guestimate we get....and from whom it came! That way the CLIENT can decide what to do with this information.
 

slacker

Junior Member
Joined
Feb 20, 2002
Dan,

Relax. All I’m saying is that I’m already required to provide way too much information as it is. If you think this will help, great. Just seems like another piece of paper that I need to worry about. Now, if you are suggesting that the addition of this disclosure document can eliminate at least two other pieces of paper, I’m all for it. Too many regulations and standards on the books already. Maybe it’s time clean house. We tend to get caught up in the fine print of USPAP when in reality 99% of LO’s have never seen it or even care what it is.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks