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Karl

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Many family members own this home together. Our firm gets a call from the Texas part of Family to do an Appraisal. Lady wanted us to know it wasn't for a Mortgage or not even considering selling it just to PLEASE give an honest opinion of todays market value. Gonna let the parents live there till unable to live on there own & that one part of family would buy out other part. Texas planning on buying out local. Assured her that this firm PRIDES itself in doing HONEST work. Called to make appointment to see home was instructed to contact the local family spokesperson. WOW some ladies get talking they can put a Trucker to shame. Called back to the NICE lady in Texas. Started to explain; She couldn't apologize enough Said YES I knew they had an Appraisal done less than 6 months ago & READY FOR THIS? she said !! I called that appraiser & asked him do U really believe this home would sell for the value His response was OH I thought it was for a Mortgage & (This is where some may find unbelivable) My wife & *&^% are good friends so I thought I'd help her out. Answer to your question to sell that home today I don't think you'd get anywhere near that price. Any wonder Y APPRAISER's R getting a bad reputation?? Y are ladies like this Texas one wanting to be ASSURED that she'll get a fair & honest appraisal? This Texas lady said I could keep the check for my troubles & phone calls. I mailed the check back to her prior to posting this.
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Just the kind of appraiser that should change to flipping burgers instead. :evil:
 
A

Anonymous

Guest
Which only goes to show too many appraisers are not only willing to be lapdogs to the mortgage brokers, but they don't even have to be coerced into it. They are eagar to please, eagar to over-appraise. And I guarantee that an appraiser who ASSUMES an appraisal is for mortgage lending, will ASSUME a great deal more. I doubt these appraisers so much as verified accurately one single sale. They ASSUME that because the sales price "looked" reasonable for the comps, these were all arm's length transactions. But they have overappraised so long, they don't know what it really is worth or what "arm's length" meant if it bit them in the butt.
 

jtrotta

Senior Member
Joined
Jan 16, 2002
Karl, understand your response, but as you left it, the nice lady in Texas still has no idea of what the property is worth :?:

I think it was just of you to return the money, but she still has not accomplished her goal. Now, whats going to happen when she needs to know in the future; will she "Trust" the next appraiser :?: and how will she make that determination :?:

Don't you feel there is a need to resolve the "dishonesty" issue :?:

Just A Thought 8)
 
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