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LSI & desktop appraisal- PLEASE READ and respond !! :r

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Mary Caffey

Sophomore Member
Joined
Feb 22, 2002
Got this email messge today- we dont have an MLS in our tri county area and are not willing to do all the necessary searching for $50.00= so I responed in like.

How do ALL OF YOU feel?? :roll:

Mary in Texas
===============================================

Dear Texas Appraisers

As many of you are now aware, LSI stopped doing appraisal work in volume for
the Hallandale and St. Petersburg Loan Centers of Bank of America in the
state of Texas. Some of you have seen a precipitous drop in appraisal
volume from LSI due to this. The reason for this, is the client started to
use what they are calling the desktop appraisal.

Attached to this e-mail is a copy of the desktop appraisal form (Microsoft
Word Document) the bank is using for their loans in Texas. At the present
time, Bank of America is supporting the use of this form.

The reason for this e-mail is to present the form to you, and inquire about
your willingness to provide this appraisal product to LSI. At this time,
this form is not available on any software packages (but it will be at the
end of October for both ACI and Lighthouse). The fee that LSI will pay for
this appraisal is $50. We would require a 24 hour turnaround time for
this product.

This product is completed by an appraiser, who pulls subject information and
comparable properties while in the office, completes the form, and
determines an estimated value to the property, without making a physical
inspection or trip to the property. Thus it is called a desktop appraisal.

Please respond to me to this e-mail, either yes or no, regarding your
willingness to complete this appraisal product for LSI according to the
price and turnaround time listed above. Responding to this e-mail is
sufficient.

Thank you very much for your time


Damon Zeigler
Vice President, Supplier Management
Lender's Service Inc.
700 Cherrington Parkway
Moon Township, PA 15108
(p) 412 299 4315
(f) 412 299 4345
[email protected]
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
I don't know why any self respecting appraiser would ever do those.

Personally, I'd quit appraising rather than put my name on something like that. The only thing they want is the liability to be on the appraiser!!!! :twisted: :twisted: :twisted:
 
Joined
Jan 16, 2002
Tell them to take a hike. I fired LSI nearly 20 years ago and have never
missed them. They were a pain back then, and from reading your post it seems some things never change.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Oh, they finally got to you too. I posted about that exact same e-mail a few months ago. Becareful on the west coast, the virus is coming your way :!:
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Pressure is on they have gone up on there price. 2 years ago it was 35.00
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
I never appraise my desk! :lol: Right now, there's more work than there are appraisers in my area. AMC's are being charged the full rate and paying AND waiting. Of course it won't continue but it feels Soooooo Goooood now! :lol:
 

Doug in NC

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
I think these desktop appraisals are called ASAVMs (appraiser suckered automated valuation models). I believe only lazy, greedy, or foolish appraisers ... oops, almost forgot desperate... will do these "appraisals".

I know of one appraiser who does them, she doesn't think there is anything wrong with doing them. I told her I don't because I don't wish to accelerate the demise of the fee appraiser. They will most certainly eliminate a lot of real appraiser jobs. She does them because they are quick and easy, but if she has to upgrade them to something involving an inspection she doesn't want to waste her valuable time (she's a commercial appraiser). :evil:

Doug
 

Julio E. Sune Jr. (FL)

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Course of Action #1:---Just say NO!!

Course of action #2:---(More complex)

1. Tell the solicitor you are on "home incarceration" and ask if they could bring you some beer.

2. Ask them to fax the information to you, and make up a number.

3. Tell the solicitor, "Okay, I'll listen to you. But I should probably tell you, I'm not wearing any clothes." [with a deep slow-voice]

4. Insist that the caller is really your friend Leon, playing a joke. "Come on, Leon, cut it out! Seriously, Leon, how's your momma?"

5. Tell them you are hard of hearing and that they need to speak up... louder... louder!

6. Tell them to talk very slowly, because you want to write every word down.

:wink: :wink: :wink:
 
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