Ray Miller
Elite Member
- Joined
- Feb 20, 2002
- Professional Status
- Licensed Appraiser
- State
- Wisconsin
A couple of months ago I did an appraisal for a large bank. The appraisal because I covered all bases and my *** caused the bank to reconsided the loan and not do it. A couple of weeks later, I get this call from this same LO that called today wanting to know if I can put the appraisal from the big bank into their name. I says no and gives her the reasons, but I said I would do a new appraisal, an inspections and maybe new sales selected as comps for $250 when I was back into the area which would be a couple of weeks. She said find and sent the order, said a check was coming. Got all done with the appraisal for her and called and said I was sending it in, but had never received the check. She said they didn't need it as one of there regular appraisers from Madison had done it and the loan closed.
Fast forward today:
Our investor has agreed to use the appraisal you originally provided for Big Bank on the above-captioned property. In their review of the appraisal they requested additional information:
1)The appraisal needs to be in our name – xxxxx LLC (see below contact information)
2)They would like to see 2 additional comps dated within 6 months and one must be a log home to further support the value.
We’re thankful that they would use your appraisal! One of our regular appraisers originally agreed to make the trek, but then decided he was too busy so here we are. Also, please forward your invoice and any additional charges for the extra comps and for switching the appraisal over to us, so we can make certain you are paid in a timely fashion. Currently we do not have an invoice with the appraisal that was forwarded to us from Big Bank.
Thanks and please do not hesitate to contact me directly with any questions.
Warmest regards,
xxxxx
They sure don't remember what they tell you from one day to the next. This busy appraiser had two months to drive the 150 miles up to the subject property. I would like to know what really happened.
Its been two months now and no doubt there are additional sales in the resort. So do I charge her for the last appraisal they didn't pay for, then add the cost of this drive time to see if the subject is still standing and for new comparable sales.
All four comps now are log homes that are in the big bank appraisal.
How would you handle it????
Fast forward today:
Our investor has agreed to use the appraisal you originally provided for Big Bank on the above-captioned property. In their review of the appraisal they requested additional information:
1)The appraisal needs to be in our name – xxxxx LLC (see below contact information)
2)They would like to see 2 additional comps dated within 6 months and one must be a log home to further support the value.
We’re thankful that they would use your appraisal! One of our regular appraisers originally agreed to make the trek, but then decided he was too busy so here we are. Also, please forward your invoice and any additional charges for the extra comps and for switching the appraisal over to us, so we can make certain you are paid in a timely fashion. Currently we do not have an invoice with the appraisal that was forwarded to us from Big Bank.
Thanks and please do not hesitate to contact me directly with any questions.
Warmest regards,
xxxxx
They sure don't remember what they tell you from one day to the next. This busy appraiser had two months to drive the 150 miles up to the subject property. I would like to know what really happened.
Its been two months now and no doubt there are additional sales in the resort. So do I charge her for the last appraisal they didn't pay for, then add the cost of this drive time to see if the subject is still standing and for new comparable sales.
All four comps now are log homes that are in the big bank appraisal.
How would you handle it????