New home under construction, changes, please raise the value

[Caterina Platt]

Hey Bob,

Well, again, I think I'd turn thier own crap right back at them. 'Merely a letter', eh? Fine, so goes it. The next time a depositor has lost several statements and requires copies from microfiche, are you gonna give them out for free? Afterall, they're merely copies? Hey, your time isn't worth anything if mine isn't. Wanna help me balance my checkbook for free???

Signed,

Sarcasm 'R' Us Appraisal Services 8)

 

[Pamela Crowley (Florida)]

Sarcasm 'R' Us Appraisal Services

:lol: Very Good Caterina!

 

[J. Parker Graham]

Watch out Now !

To change the value on new construction without reason and by request can be a big problem. Appraisal Updates are not part of the original fee, and should not be considered as free. To re-value new construction with an updated appraisal should be performed with a complete new re-inspection and re-measurement of the subject. If the new changes have little to do with the justification of new value - watch out !

The lender is using you to create a new loan to value ratio for the buyer. If the buyer can not qualify for the loan, the new and improved loan to value ratio can get him re-qualified providing you give them what they want. It might be a little tough to write a viable report in a stable to declining market. There are lenders that will do or say anything to close on a loan. When the deal goes South you will be part of the reason why.

Former Clients - that is what the delete key is for.

I had a lender that I turned down 6 weeks ago for an appraisal, due to past specific performance and value steering. The same lender got excited when 4 weeks after the appraisal due date they had no report A rejection fax had been sent to the lender the same day of the request. But yet they still demanded thier report. Sub prime Lenders will do or say anything to continue to get their 185% of value loans closed. When these loans go South there will be common appraiser names on them. Just wait untill the Predator Lender Scam is exposed in your area.

Happy Trails, and Stay Out of Trouble.

 

[bobburnitt]

Well Parker,

We know all of that, problem is, the people who don't play by the rules are getting all of the business.

Too many appraisers down here. They won't use you if you don't 'play ball'. No enforcement.

BB in Texas