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New Underwriter Stupidity

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Tom Woolford

Thread Starter
Elite Member
Gold Supporting Member
Joined
Nov 20, 2005
Professional Status
Certified Residential Appraiser
State
Florida
" Please comment on Listings selling for more than closed sales"

ITS A LISTING, YOU DOOR KNOB. It has not sold yet !

m2: m2: m2:
 

int1st

Freshman Member
Joined
Aug 6, 2007
Professional Status
Licensed Appraiser
State
California
And why they don't require them licensed I'll never know. Perfect example.
 

444nutman

Senior Member
Joined
Jun 20, 2007
Professional Status
Certified Residential Appraiser
State
Florida
The last 3 homes I have done on acreage I have gotten the old we need all comps within a mile. That is tough to do when nothing has sold within a mile. It is all in my report if you just bothered looking past the grid and value.
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
I suspect that appraiser who tells the UW that he cannot appraise just 5 acres of a 25 acre parcel sounds just about as dumb as the UW's do to us sometimes.

In most of these cases, they are just simply following orders from on high to make sure the appraisals conform with the way the lender wants them.

:blush: Just grin and bear it. :blush:
 

int1st

Freshman Member
Joined
Aug 6, 2007
Professional Status
Licensed Appraiser
State
California
The problem is that we get this kind of stuff all the time. And you are so right, if they would have read the comments instead of just looking at the grid they would have seen the explanation.

I had one of those just yesterday. I think we should tar and feather them with honey, throw them into the forest and tell them to grin and bear it. :icon_mrgreen:
 

JRS at OBX

Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
I usually don't do much work for mortgage brokers. I did a job for one last week. The MB called yesterday with an UW stip that I needed clearer pictures.

My pictures were fine. Turns out the MB faxed a copy of the appraisal to the UW. :shrug:
 

TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Here's one I got today:

APPRAISER TO COMMENT ON SUBJECT POSSIBLE EXTERNAL INFLUENCE-BEING A SMALL BUILDING INBETWEEN TWO LARGE BUILDINGS. WHAT IS THE AFFECT ON MARKETABILITY OF THE SUBJECT?

Stupid, and can't spell. A 2 story house in between two slightly larger 2 story houses, this is a first for me. Shoulda cropped the photo tighter.


TC
 

Webbed Feet

Elite Member
Joined
Feb 11, 2005
Professional Status
Certified Residential Appraiser
State
Canada
" Please comment on Listings selling for more than closed sales"

ITS A LISTING, YOU DOOR KNOB. It has not sold yet !

m2: m2: m2:

"Dear Underwriting,

The listing real estate broker(s) and the current owner(s) of the active listings I provided decided on those asking prices. Here is the phone numbers of those listing brokers. I recommend you call them and ask them why those prices are being asked.

Sincerely,

Your appraiser,"

Webbed.
 

Smokehouse

Junior Member
Joined
May 7, 2003
Professional Status
Certified Residential Appraiser
State
Florida
there is nothing "new" about underwriter stupidity :)
 

ddcarrier

Sophomore Member
Joined
May 19, 2005
Professional Status
Certified Residential Appraiser
State
Florida
The sad part is, the UW is probably making more money than we are!
 
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