just do whatever they want

[starmansf]

Stip from broker: provide new sale and pending sale within 3 mos. on a 6 week old report.

"No. And send me the condition from the lender."

"It was sent. The processor sent (what she wants) to you."

"I don't want to know what your processor wants. I want to know what the lender wants."

"The lender works through us. You're supposed to just do whatever they want."

"Really? How do I know what they want if I never heard from them?"

1 week later:

"What's the problem? Why won't you give us what we want?"

"Why won't you give me what I want?"

Here we go:

"Appraiser to comment on foreclosures in the subject's market area and the resulting effect on market values. Provide detailed documentation to support all comments."

 

[Elliott]

Michael,
Its standard operating procedure to get the stips about newer, closer,
its not personal, or it could just be "Provident" and in that case, you show
them the 'cross' and tell them there is no way in hell that you can meet
Provident's standards (on a personal one-on-one conversation you can
say, "Man, Provident just jacks you MBs on those teaser rates, only the
real suckers try to go for the brass ring."

We are in for a wierd mortgage market, hang on, hold tight, don't lose your
grip.

 

[starmansf]

Yes, the provident people. I didn't take it personally. Brokers /LO's say things that don't make for good appraisal practice. Do not do what these people tell you to do!

 

[aussie ken]

Stip from broker: provide new sale and pending sale within 3 mos. on a 6 week old report.

"No. And send me the condition from the lender."

"It was sent. The processor sent (what she wants) to you."

"I don't want to know what your processor wants. I want to know what the lender wants."

"The lender works through us. You're supposed to just do whatever they want."

"Really? How do I know what they want if I never heard from them?"

1 week later:

"What's the problem? Why won't you give us what we want?"

"Why won't you give me what I want?"

Here we go:

"Appraiser to comment on foreclosures in the subject's market area and the resulting effect on market values. Provide detailed documentation to support all comments."

Yes of course we can help you.......please confirm it in writing and we will then act on it staright away........

 

[Webbed Feet]

I'll keep posting. Maybe people in this industry will start listening.

Engagement contract...... ENGAGEMENT contract....... engagement CONTRACT.... Contract of engagement ..... Prepare a detailed CONTRACT and insist it be signed.... a contract... Yes, one that spells out the limits of cooperation regarding stips and the time period after delivery of an appraisal report that stips will be considered without charging for them.... Who the stips have to come from... the number of stips.... unreasonable stips....

Contracts.... we need well written better contracts!

Did I say contracts?

Webbed.

 

[starmansf]

Webbed Feet,

Thank you; but isn't an appraisal order form a contract for services?"

 

[starmansf]

"........................................."

 

[appraisalondemand]

Webbed,
I would love to see a contract that you send. Also, please tell me the order in which you accept an assignment, set a fee and have the client sign the contract. Is this faxed to them?
I would imagine, from your posts, that you have this down fairly well. I have fumbled with this proceedure a few times and have gave up on the engagement letter unless it is for non lender work, then it seems to be that it is easier.

Thanks

 

[jay trotta]

Con tracts,

they are written to be broken and ifn ya wants ta Enforce It, me hopes ya gots DEEP Pockets. $250 / $450 / $850 - take the Top Earner there.....$850, you will probably wind up with about 3-4 hrs of a decent attorney's time, and then start diggin. Ifn ya figure your net profit at; $200 on that deal it's a looser right from stage one.

Good luck on the "Con Tract" Issue, the only reason the Lenders do it.....they have Deep Pockets and everybody else's Money. Not one dime of their profit is ever used.

In case ya'll haven't faced up to it, we lost the battle along time ago (bought 10 years back) and they could care less.

 

[Mztk1]

They are not saying to include with the report, just to provide them. Look. I am assuming since you are in San Fran that you have a good MLS system. Take the "Results" page from the MLS and print it into a PDF, then include a letter head with the PDF saying these are the most recent sales and pending sales in the area.

If they look over the list and ask you to grid one or two, then react accordingly. But the list should be good enough.