Opinion, Please - Request For Value Reduction

[J Grant]

Why did you offer to make a 5k change ? The client can nail you on a USPAP violation for doing so and a client can turn on an appraiser at any moment, even if the appraiser was trying to "help " the client.

A market value opinion is not supposed to be made in order to favor a predetermined amount, nor an outcome resulting in a subsequent event, such as granting of a mortgage loan, It's there in the certification page of URAR 1004 form.).

 

[J Grant]

>3% price difference. Drop it $5k. They are not asking anything unethical. Fits within YOUR range. Close the deal, get paid, move on to the next one.

Feel good that you came in that close without seeing the contract.

Now if they wanted it raised 5k, that would be a different story.....

Its' the same story, we don't let clients dictate values to us up or down.

 

[J Grant]

It sounds like a pocket deal sold to an inverstor under market value, a deal btw banks might look at later and not in a good way. So yeah accommodate them and lower the value (sacrasmn )so an investor can buy under market and watch them flip the house n a month for high $ and see if the bank might notice that happened (the opposite of flipping is known as "flopping", buying under market and cheating the bank of moneys by collusion to help borrower under pay for a property

 

[Meandering]

USPAP Conduct:


An appraiser: • must not perform an assignment with bias;

must not advocate the cause or interest of any party or issue;

• must not accept an assignment that includes the reporting of predetermined opinions and

conclusions;

Sorry, it's a bank decision.

 

[glenn walker]

I would do it

 

[residentialguy]

When they sent you this stip, did you see steam coming off of it?

 

[Mr Rex]

Why not offer to do a new appraisal since there is new information available?

 

[Jim Onderisin]

Gotta agree with J Grant. You were on the right track in the first place. Let the client deal with THEIR problems. We deal with ours.

 

[Mike Garrett RAA]

Don't do it!

 

[J Grant]

Agree with Mike above..

Yeah keep number hitting you people who do so and appraising to SC price when no other indicator besides contract supports doing so and watch all the hard work to restore confidence in appraisal over past 5 years be wiped out. If clients and Fannie and regulators come to believe they can not have confidence in appraisers even after all the legislation and firewalls etc, this time there will be no second chance and we will be marginalized even further. .