New oxymoron ...Its just a drive-by, w/interior inspection

[Dave Smith]

The Real-a-tor must have used the "PFA" approach to value.

"Plucked From Air" :!: :!:

 

[Charlotte Dixon]

No the Realtor did a WAG......Wild A--ed Guess!
:roll:

 

[Cliff Salisbury]

Richard, you are right and I was wrong. I have never done this before. It was a bad day and I just got off the phone with one of my best clients explaining to them why I did not think a house they wanted to refi would appraise for what the owners purchased it for three years ago. The lender faxed me a copy of the original appraisal. The subject was a 1000 square foot ranch about 52 years old that sold for $155000 with 10% down. The appraiser and helper used a 1700 square foot ranch, with no adjustment, did not metion the swimming pool, and a new home that was 1000 square feet that sold for $159000. He aso did not mention that this new home was on a 40 x 80 lot in a PUD that had a clubhouse, pool and tennis courts and made only a $2500 dollar adjustments for condition.
I figured that the home was probably worth no more than $135000. I wonder where the 10% down payment came from?
It is people like this that are just killing our business and has really hurt mine. But you are right. I did not have to lower myself to their standards.
Thanks for pointing that out.

 

[Verne Hebert]

Don't forget the client is the institution not the clerk......And these days, every month it is another clerk....don't recognize any names anymore generally.

These fees are market driven. WE decide on the fees, and we decide if the product they are requesting is appropriate for the assignment.

Educate, do a good job----and collect your fee.

 

[Dave Smith]

Charlotte:

Known in these parts as the "SWAG" method.

"Swinging Wild A..ed Guess"