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Know it all Home owners!

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Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
I just came as close as I ever have to chewing out a home owner. I got the appraisal sent off and of course I am way wrong. "None of the other appraisers were ever this low!" she barked.

After some verbal jousting and her constant interruptions and refusal to listen to anything I finally asked the women if she had her appraisers license.

"NO but I have my Realtors License and I KNOW what houses are worth". I asked her to furnish me some sales and I would reconsider. "That would be doing your job for you. I can't do that!" Just on and on. I finally told her I was not going to argue with her and if she would provide me the three previous appraisals I would gladly review them and see what the did wrong.

I was just about hang up on her and she hung up me. $10 bucks say I end up filing suit against her to collect my fee. Now that I think about it I kind of hope so. Then I have the satisfaction of collecting interest and and the filling fees. :) I bet she will take it before the judge and argue that I didn't hit the number. Guess I better make me a copy of the Ethics Rules to take to court with me. :twisted:

OH, I think I will type up a letter with the invoice offering to review the previous appraisals for her and see what her other appraiser(s) did wrong. Think that would tick her off? :evil: And of course remind her that if she will provide me with some sales I will analyze them for her and tell her why they are not comparable too. This could be fun if she wants to fight me in court. :twisted:
 

Mike Simpson

Senior Member
Joined
Jan 30, 2002
Read my letter to the Editor (earlier post-Deal Killer Home Inspectors Unite II). Agents thinking they know more than the appraiser is a monstrous problem. I'm an agent myself, and I hear all the talk;

I recently told a classroom of agents that the only time an appraiser asks for "comps" is when the appraiser wants to show them just how out of their minds they are. They looked at me dumbfounded--I continued--and if another agent tells me they're not going to do my job for me (refering to the request for comps) I swear by Odens beard my head will explode. You see I told them--you couldn't do my job if I did it for you!

Sometimes I just love to stir the nest.

-Mike
 

Verne Hebert

Senior Member
Joined
Feb 25, 2002
Professional Status
Certified General Appraiser
State
Montana
I haven't had a real screamer for some time now. There have been a number of great moments. I think the last one was a "Realtor"/owner though.

Don't even get into it. Tell her to call the lender---and use the lender as a buffer.

I used to give the number of the local priest....but I quit doing that....unless they are really persistant.
 

Tim The Enchanter

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
I agree with Verne. Let the lender be the buffer to the extent you can. Probably the least trouble. Then if she ever comes up with "comps", you can just explain to the lender why they are no good.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Jeff:

This is the only situation in which USPAP fulfills a 100% concrete USEFUL purpose to the typical residential appraiser: you can always pull the mantle over your head and poke out a finger in the direction of the tome: and say "never more canst I discuss this with you, I must talk only with the lender"... 8) So sayeth the appraiser's bible page and paragraph!
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
I have climbed down off the ceiling now. Just before I came back over here to read my email and the board I told my wife I was NEVER going to argue with an owner again. I was going to tell them
"The lender is my client. I can not talk to you"

I am tired of this ****. Its my new Mantra. Going to print it out and put on my monitor.

"The lender is my client. I can not talk to you"
"The lender is my client. I can not talk to you"
"The lender is my client. I can not talk to you"
 

Claudia Cullen

Sophomore Member
Joined
Dec 18, 2002
Professional Status
Licensed Appraiser
State
Massachusetts
Jeff, you have my sympathy and I agree with your mantra. I will probably need it within a week myself. I just did an appraisal (refi) and the homeowner's mother is an agent, who was happy to provide "comps" for me. I'll be nice and say her thoughtfulness was kind, but I do wish she had given me 2 bedroom, 1000 SF ranch SALES instead of active listings and UAG's of 3 bedroom properties with larger SF!

Any chance of getting r.e. agents, L.O.'s and underwriters to take some appraisal courses and then work in the field?
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
I have to send my home owner an invoice. I decided to write her a letter while I was at it. See what you think of this.
~~~~~~~~~~~~~~~~~~~~~~~~`

Dear Mrs. Homeowner,

In my previous letter I failed to enclose the invoice with the letter and a current Invoice is enclosed.

Per our phone conversation about the appraised value of your home, even though you are not my client I am willing to reconsider my analysis if you can provide me any sales that are comparable to your home and have sold with in the past 18 months. It is possible that you know of a sale that I did not find in my data sources. If you are aware of any sales and can provide me with verifiable sales data I will be happy to analyze them. If they are comparable to your home I will revise my appraisal and see if these sales effect the estimated Market Value either positively or negatively.

Also, you stated that you had 3 previous appraisals performed on your home and that they all had higher values. If you will provide me with copies of these I will be glad to perform a proper review on them. This is the only way to determine if they were performed properly or were in error. Otherwise I cannot comment on another appraiser work.

To properly review an appraisal you must have a copy so you can see their methodology and the data. An appraisal cannot be judged by the “Bottom Line” as you claim. The appraised value is the results of in-depth analysis and may be based on hypothetical conditions. Without all the information available to say an appraisal is wrong it just personal opinion.

I look forward to receiving copies of the previous appraisals.
~~~~~~~~~~~~~~~~~~~~~~~~~~~

BTW when I asked her if she had seen a copy of my appraisal she said no. Then I asked her how could she judge my analysis without seeing what I did. She answered "I have the bottom line." :lol:
 

Lee SW IL

Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
I just got into it with a home owner by just trying set the damm appointment.

He says he did not want an appraisal on his home because his taxes will go up based on my appraisal.

I tried to explain that is not the case, but, he knows better. :roll:
Last time he refied his taxes doubled. (NOT)

After I told him he lives two blocks away from me, I advised him the tax increase was due to the tax rate increase and due to a reassement done within the township at that time.

After explaining all this he still doesn't believe me, but thats his problem.
 
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