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My Report Was Rejected!

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Charlie

Junior Member
Joined
Feb 26, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
I received notice today that I have submitted an unacceptable report. The reviewer wants an additional sale that brackets the subject's age. The subject was built in 1959 and the comps were built in 1960, 1967, 1967, and 1968. Hmm...
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
I received notice today that I have submitted an unacceptable report. The reviewer wants an additional sale that brackets the subject's age. The subject was built in 1959 and the comps were built in 1960, 1967, 1967, and 1968. Hmm...
You already provided 4 comparable sales that are similar in age (and presumably similar in effective age). Tell them that you will not be providing an additional comp without an additional fee unless they can cite a requirement in the assignment conditions that requires the age of the subject property to be bracketed.

If that is the only "issue" the reviewer found with the report and that is why it is being rejected, then the request is not reasonable.
 
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Charlie

Junior Member
Joined
Feb 26, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Can you describe the client-type and who the reviewer is working for?
Big-box lender? AMC?

The request does not sound reasonable to me based on the age-group of the sales you have.

This is a big lender. The reviewer works for the lender. No AMC. 2055 report (default/pre-foreclosure).

I try to have an open mind with revision requests, but these types of silly things slow me down. Whether I decide to reject the revision request, provide the sale, or contact someone higher up in the organization to try to "improve the profession" and show the error of making a revision request like this, it will waste my time and money in the end and potentially lose me business. Nothing new though- these things have been going on forever and I do not let them bother me. These types of revision requests also show why most organizations appraiser rating systems are worthless :)
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
This is a big lender. The reviewer works for the lender. No AMC. 2055 report (default/pre-foreclosure).

I try to have an open mind with revision requests, but these types of silly things slow me down. Whether I decide to reject the revision request, provide the sale, or contact someone higher up in the organization to try to "improve the profession" and show the error of making a revision request like this, it will waste my time and money in the end and potentially lose me business. Nothing new though- these things have been going on forever and I do not let them bother me. These types of revision requests also show why most organizations appraiser rating systems are worthless :)
I am the chief appraiser at a mortgage insurer and if I had a reviewer making such a silly request, I would certainly want to know about it as such a request not only wastes the appraiser's time, but is a waste of my company's time and productivity. I would recommend contacting someone higher up the food chain and having a professional conversation with them. You may actually end up making a valuable contact.
 
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hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
I try to have an open mind with revision requests, but these types of silly things slow me down.

I'd lose my review-clients (and rightly so) if I made requests like this.
Not only does it slow you down (which, unfortunately, might not be on the reviewer's mind) but it slows the process down on the lender/servicer's side (which should be on the reviewer's mind)... and for what?

Good luck in how to best get this off your desk!
 

bnmappraisal

Elite Member
Gold Supporting Member
Joined
Nov 9, 2011
Professional Status
Certified Residential Appraiser
State
Florida
it will waste my time and money in the end and potentially lose me business.
(my bold) I agree it will waste your time, which means $$$, but I'm not sure if would lose you business. If this is a long standing client (which is the take I read in your OP), then you should be able to talk to a higher up without major repercussions (loss of business). The higher up (hopefully someone with more experience and, sadly, Common Sense) should be able to see this dumb "request" and just override it.
It might be worth the phone call, IMO
I hope it works out...
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
I think that's a put up or shut up situation for the reviewer. Make them show you the explicit instructions where you are required to bracket the year built.

I know I would never make such a comment unless I was quoting something out of the Client's appraisal policies. I don't say things in a review that I can't prove.
 

Michigander

Senior Member
Joined
Oct 23, 2003
Professional Status
Certified Residential Appraiser
State
Michigan
I received notice today that I have submitted an unacceptable report. The reviewer wants an additional sale that brackets the subject's age. The subject was built in 1959 and the comps were built in 1960, 1967, 1967, and 1968. Hmm...

I am a reviewer and consider that an asinine request. Same era, move on. Was this all they asked for, or just one of a myriad of things?
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
moronic. Are you sure it was an appraiser reviewer and not some staff person with a checklist - unfortunately they both are called "reviews"
 
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