Need Opinion On Appraiser/AMC Guidelines

[Mike Kennedy]

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[Mike Kennedy]

If the appraiser is weak, I agree with you. Otherwise, not so much. That's like a police officer not investigating other prior police work on a guy.

• It's a good double check your data
• It's a good tool to see something that you might have missed
• It's a good tool to arm your appraisal against a value discrepancy from that appraisal. Your report takes the wind out of their sail.
• It's a good tool to see a good comp that you may have missed

Being objective is a personal decision that you make. If you can't do that, you shouldn't be on this forum...you might be influenced!

Case on Point
https://appraisersforum.com/forums/threads/assignment-request-i-typically-get-from-AMCs.219030/

 

[residentialguy]

Case on Point
https://appraisersforum.com/forums/threads/assignment-request-i-typically-get-from-AMCs.219030/

What does a modular home without a permit and the AMC non responding have to do with any of this???

 

[Mark K]

I've never asked about/for a copy of an old appraisal and have never accepted one when offered.

Why would an owner (biased) offer an appraisal unless he liked the number and wanted something similar or better. Does anyone believe that they would offer a previous appraisal if they didn't like the number? Its essentially the same issue as a lender sending an order with a "customer estimated value" or "minimum amount needed".

I think its completely possible to look over a previous report and be unbiased but some appraisers don't understand that its the appearance of impropriety that can get you in trouble as much as the act.

To the OP, if it was the same appraisal company, good chance it was cloned. If it was an AMC, good possibility they sent a copy of the prior appraisal along with the order.

 

[residentialguy]

Why would an owner (biased) offer an appraisal unless he liked the number and wanted something similar or better. Does anyone believe that they would offer a previous appraisal if they didn't like the number? Its essentially the same issue as a lender sending an order with a "customer estimated value" or "minimum amount needed".

This was not about getting an appraisal after the report was done, rather prior to doing it. Here are some of the benefits: https://appraisersforum.com/forums/...appraiser-AMC-guidelines.219026/#post-2813863

I think its completely possible to look over a previous report and be unbiased but some appraisers don't understand that its the appearance of impropriety that can get you in trouble as much as the act.

Not so much. If asked about it, you explain why as posted on the link above, then they say; Oh, ok...that makes sense. Never been "in trouble" for it.

 

[Mark K]

This was not about getting an appraisal after the report was done, rather prior to doing it.

I think that was pretty obvious.

I've been on the witness stand about a dozen times, divorces and r/w work. In nearly every instance an attorney asked if I'd been given or seen a previous appraisal. I'd rather just say NO and not have to try to explain to a jury or judge that I'm immune to external biases.

 

[residentialguy]

I've been on the witness stand about a dozen times, divorces and r/w work. In nearly every instance an attorney asked if I'd been given or seen a previous appraisal. I'd rather just say NO and not have to try to explain to a jury or judge that I'm immune to external biases.

And I'd rather know what's in store for me if I don't hit that mark and the weakness of that appraisal to cover my butt and catch any error that report could show me that might land me in court if I didn't have it. The explaining part is easy.

 

[TRESinc]

If it was an AMC, good possibility they sent a copy of the prior appraisal along with the order.

first i have ever heard of this happening, even on here where everyone hates AMCs

 

[Mark K]

first i have ever heard of this happening, even on here where everyone hates AMCs

Another appraiser that I rent office space to has this happen frequently. I don't work for AMCs so I can't say I have first hand experience but have seen quite a few that were sent to him.

 

[TRESinc]

Another appraiser that I rent office space to has this happen frequently. I don't work for AMCs so I can't say I have first hand experience but have seen quite a few that were sent to him.

i only work with one AMC and they have never done that, but it's only been a couple years with them. i do have a long term direct engagement client who has on rare occassion sent me a previous 1004 when they have asked me to do an 2055 for equity purposes on a younger house where there is no data available on public records (sometimes it takes years before the auditor has updated records available). typically there is some extenuating circumstance why the original appraiser could not complete the new request.