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New "market analysis check"

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netappr

Thread Starter
Sophomore Member
Joined
May 6, 2008
Professional Status
Certified Residential Appraiser
State
Texas
Anyone want to work for free, just received this one from an AMC,
l:rof::rof::rof:

"Please perform a price check and market analysis for the neighborhood of the property listed above.

Please note that this engagement is a consulting assignment pertaining to actual sales prices and market activity that has occurred in the competitive neighborhood. Its purpose is to help establish reasonable expectation of general market conditions in the relevant neighborhood. This assignment is not an appraisal, nor a guarantee that any specific residence in the neighborhood would have a similar value. In order to perform an appraisal, an appraiser must measure and inspect a specific property to ascertain all the specific characteristics that determine the marketability of a specific property. No guarantee of any specific opinion of value for any specific property is expressed or implied by the conclusions of this market analysis.
Thanks.":new_2gunsfiring_v1:
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
Anyone want to work for free, just received this one from an AMC,


"Please perform a price check and market analysis for the neighborhood of the property listed above.

Please note that this engagement is a consulting assignment pertaining to actual sales prices and market activity that has occurred in the competitive neighborhood. Its purpose is to help establish reasonable expectation of general market conditions in the relevant neighborhood. This assignment is not an appraisal, :rof::rof:i guess they've interpreted the latest Q&A for themselvesnor a guarantee that any specific residence in the neighborhood would have a similar value. In order to perform an appraisal, an appraiser must measure and inspect a specific property guess they never ordered a 2055?to ascertain all the specific characteristics that determine the marketability of a specific property. No guarantee of any specific opinion of value for any specific property is expressed or implied by the conclusions of this market analysis.
Thanks.":new_2gunsfiring_v1:

That is their feel good words so we don't think they are asking for comp checks or free appraisals. I wonder who are working these "assignments"?
 

speck

Freshman Member
Joined
Apr 2, 2008
Professional Status
Licensed Appraiser
State
Oklahoma
MOMENTUM? I got the same request this morning.
 

netappr

Thread Starter
Sophomore Member
Joined
May 6, 2008
Professional Status
Certified Residential Appraiser
State
Texas
Yes, momentum
 

George Hatch

Elite Member
Gold Supporting Member
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Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
As I've been saying all along, you could "ban" a dozen different terms for comp checks and these guys would still be able to come up with a dozen more ways of asking for the same thing. Each would have some variation of the rationale for it not being an appraisal despite requesting your comparison of sales or rental data with their subject property.

It's kinda like saying "It looks like a duck, it walks like a duck, it quacks like a duck, but it's not a duck because we're calling it an apple."

May I also assume these guys are asking you to do it for free?
 

netappr

Thread Starter
Sophomore Member
Joined
May 6, 2008
Professional Status
Certified Residential Appraiser
State
Texas
Yep, no indication of any fee was specified or no formal request
 

EDWARD BERRY

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I Do These Consultion All The Time For $450.

Sign It As Lic Realtor Ed-
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
"Please perform a price check and market analysis for the neighborhood of the property listed above.

No problemo ........it's just a "data dump". oh wait.........it's only "raw sales" .......... no wait it's a consulting assignment........


"hey Joe why dont we just go online or call local real estate agents instead?:.

"nah get it from some appraiser they'll do anything to get an appraisal order these days, besides they got insurance if what they give us is wrong we're off the hook" .

" hey joe I got that appraisal data back - seems there were only 6 non-foreclosure sales within a mile of that property from $100 to $150. in the last 6 months - Ok GREAT!...... we only need $125-135. I'm gonna go order that "real " appraisal now - the appraiser already did the market research garbage - so im gonna knock off $100. from the usual fee - don't worry - this guy WILL do it - He's My Man !~~~~~~~"
 
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Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Tell them they have to at least kiss you first. Your choice of location.
 

Stone

Elite Member
Joined
Feb 1, 2002
Professional Status
Certified General Appraiser
State
Wisconsin
But, but, but I thought if someone just defined and outlawed a Comp Check all this would go away? How could they possibly come up with another term for the same thing.

After Comp Check, we'll have to have a definition for "market analysis check".

I'm sure that after the powers that be define about 2,000 terms, appraisers won't have to worry about simply not accepting this type of stuff. It will all go away then. :new_smile-l:
 
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