- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
You guys know the scenario. The first appraiser will not release the appraisal report to the new mortgage company or they are not on the approved appraiser's list or for some unknown reason the loan went south at the other mortgage company. The new loan officer sees the loan application, the estimated value of the other appraisal and all they need is a new appraisal with at least that much value. I never seem to be able to produce that value. Then, you have to spend additional time explaining to your good client why you are not as good as that other appraiser. Then, they will not give you the other appraiser's report, but they will tell you the comps they used. I always love that part. You explain that the other appraiser used sales outside the addition when there were sales in the addition they could have used like you, or that the three sales are all over 500 SF bigger, why didn't he/she use the sales that are the same size like you did. There is never a reliable solution and the other appraiser has used their sub par work to drive a wedge between you and your client. No matter how honest you are, how straightforward you are, or how blunt you are, you lose. You have to spend the next month mending your fences with your client until the next second appraisal assignment is ordered and the cycle starts over.