More On Free Comp Checks

[JSmith43]

The NC answer sounded familiar. I hereby readdress my q & a comments to the ASB.

No laughing here about the compliant vs non-compliant comp check descriptors. If using those labels lower the count of appraisers posting foot in mouth comments about the situation, it would certainly elevate the level of debate.

 

[Mike Kennedy]

P.S.

A very long time ago I suggested to this forum that we define a new vernacular that labels a "comp check" comment to be a "Comp Check C," for compliant and a "Comp Check N" for non-compliant, just so we all could finally understand what everyone was posting about. ... I was laughed at, which is ok. ... Yet here we have more appraisers posting they thought comp checks are illegal and that they are not. I think for an entire country of supposedly trained real estate appraisers this never-ending confusion and debate about a label ("Comp Check") is just stupid.

I'll post again and happily be laughed at again. Why don't we all stop with the idiotic slang? ... It is so bad even the ASB has now gotten sucked into it! ... It is all really simple folks!!! We are talking about real estate appraisals that are compliant with USPAP versus real estate appraisals that are not compliant with Standards. Why don't we all just type a little more and stop with the meaningless slang? ... Everyone will look much more professional and at least know what the other appraiser is posting about.

Sheesh!

I vote for the term "AGAR" (ankle grabber appraisal report)

generic affectionate name "Aggie"

although a h34r:SHUSH is also appropriate.

then again.........a "WINK" :icon_wink:works well too.

ok ok ... final opinion: a BJD (But its' Just Data):blink:

 

[JSmith43]

No way, Mike. We're marking you down as undecided.:icon_mrgreen:


Besides, AGAR is already taken. That is what a URAR is when someone goes with the built-in contingent limiting conditions without Clarifications.

 

[MarcMangan]

I got a call from a loan officer yesterday wanting to know a ballpark range before he ordered the appraisal. I told him I couldn't do that and it was unethical.

He said well what about a paid comp check. I replied if you define the parameters I'll send you all the sales within your parameters for the city.

He says well I am not the professional how do I know what is what. I said how do I know anything about the property before I look at it.

He asked my fees and wanted to know if he ordered a conventional but then had to upgrade to FHA later what I'd charge. Told him he needed to order the FHA first and provide a case number. He got aggitated.

He questioned my ethics. He said how can you ethically do an appraisal that we may not end up being able to use because the value isn't there. I am not asking for a predetermined value. It is what it is. I just want to know if I can make the deal work with the value thats there.

We got into a talking over each other match and I ended it with I don't do appraisals for unethical, uneducated, and non professional loan officers that request illegal information and hung up.

He referred to a good appraiser as one that is knowledgable in their market that he can call and the appraiser will give him a number off the top of their head!!!! I responded sir that is not a good appraiser.

Wish I had gotten all his info before we got into it so I could report him.

 

[Offshore]

Is Mentor shouting "fire" in a crowded theater again? I wish I had time to joust today. He's mistaken as usual on this one. :new_smile-l:

 

[MarcMangan]

If I developed a "Sales Data Request" form that a lender could fill out and fax back to me that clearly defined the lenders parameters. It would be in their hand writing and they would sign it.

This form would give them the right questions to ask their borrower. Such as sq.ft. range, within how many miles, within the named subdivision, providing only the street name and no borrower information. And If i had a form like that I could run the search and e-mail them all the sales in a matter of minutes and then possible get more business when someone calls for a comp check and turn it into income instead of enemies.

 

[MarcMangan]

And I'd like those 50 voters that turn those calls into orders to chime in. Cause it never happens. What do you say to them? I guess I am too honest upfront and shoot myself in the foot at even having the chance to get the order once I open my mouth.

 

[JSmith43]

And I'd like those 50 voters that turn those calls into orders to chime in. Cause it never happens. What do you say to them? I guess I am too honest upfront and shoot myself in the foot at even having the chance to get the order once I open my mouth.

Marc, it can be a very tough sell. Appraisers generally don't possess the skill sets and/or motivation to offer appealing and legal alternative products to such callers.

Plus, with 90% of the callers being highly refined scum bags, it isn't a pleasant task to sort out those with an innocent set of motivations. Highly professional loan originators rarely makes such calls. And, if they do, they will already know the rules.

If you find yourself in a shouting match, there is no profit in it. Politely refer the person to free AVM's and wish them well.

First of all, I bet you are not prepared with a restricted use valuation product that is suitable to offer to a LO as an alternative to a URAR, with a price and SOW customized to match that type of assignment. That would be step 1.

As you can see by some of the posts, even if you manage to sift through such inquiries and find a righteous situation to offer such a product, there are vindictive sorts in the appraisal profession that would pounce on you like a jackal for doing so. Think of yourself as belonging to a secret Union and they see the restricted use report as scab work.

Personally, I'd tell them where to stick it, but I am confident I could defend my work, not to mention, dishing out some return fire, if necessary.

The fuzzy "clarifications" by the ASB are a problem. If the ASB wants appraisers not to war amongst themselves, they should serve up a few more words of wisdom on this topic.

 

[Joyce Potts]

http://appraisersforum.com/showthread.php?t=146578&page=6

 

[PropertyEconomics]

If I developed a "Sales Data Request" form that a lender could fill out and fax back to me that clearly defined the lenders parameters. It would be in their hand writing and they would sign it.

This form would give them the right questions to ask their borrower. Such as sq.ft. range, within how many miles, within the named subdivision, providing only the street name and no borrower information. And If i had a form like that I could run the search and e-mail them all the sales in a matter of minutes and then possible get more business when someone calls for a comp check and turn it into income instead of enemies.

Once you limit your search to parameters you have done an appraisal .. sorry thats just the way it is ... now if you wish to document your file for an appraisal and meet all of the USPAP guidelines thats cool if not .. in my opinion you are in violation.