Reconsideration of Value - Comp photos

[sputnam]

Put something like this in all of your reports:
FEE FOR RECONSIDERATION OF VALUE/REVIEW OF ADDITIONAL COMPARABLE SALES
If the appraiser has erred and the submitted additional sales are are found by the appraiser to be superior to the sales used in this report and their use results in a material change to the appraisal report, no additional fee will be charged. If the appraiser finds that these sales are not as comparable as the sales used in the original appraisal report and the appraiser finds them inappropriate, the client shall pay a fee of $100 for each sale that was submitted to review, plus a minimal $75 inspection trip fee, which may be greater depending on mileage and drive time incurred.

I agree with that policy. If you messed up... for whatever reason... own it and fix it quickly. If it's simply a matter of reviewing the additional information... no charge. If the Client tells you to add an additional sale... $$. If the Client tells you to remove or change a sale without a very good reason... just say No.

 

[J Grant]

Put something like this in all of your reports:
FEE FOR RECONSIDERATION OF VALUE/REVIEW OF ADDITIONAL COMPARABLE SALES
If the appraiser has erred and the submitted additional sales are are found by the appraiser to be superior to the sales used in this report and their use results in a material change to the appraisal report, no additional fee will be charged. If the appraiser finds that these sales are not as comparable as the sales used in the original appraisal report and the appraiser finds them inappropriate, the client shall pay a fee of $100 for each sale that was submitted to review, plus a minimal $75 inspection trip fee, which may be greater depending on mileage and drive time incurred.

That won't work, because any party could argue that the appraiser decided NOT to add any new comps or change the report because the appraiser stood to gain an extra fee by doing so.

That said, I wish this were a paid service - but it would need to be at the front end, where an appraiser simply charges more for each report, knowing an ROV might come at some point.

 

[residentialguy]

That won't work, because any party could argue that the appraiser decided NOT to add any new comps or change the report because the appraiser stood to gain an extra fee by doing so.

That said, I wish this were a paid service - but it would need to be at the front end, where an appraiser simply charges more for each report, knowing an ROV might come at some point.

If they could say what they want. But they aren't going to prove it. I always use that, and it always worked. I can count on one hand that I got a ROV... and had fingers left.

 

[Zoe]

If they could say what they want. But they aren't going to prove it. I always use that, and it always worked. I can count on one hand that I got a ROV... and had fingers left.

I can see that because you probably already analyzed everything presented in the ROV.

 

[Zoe]

I have only had a few ROVs. They don't take long. Just a new revised report and explanation is all the client wants. It is usually heavily biased client that is pressuring the client and it give them an out for why it is what it is.

Buyer, realtor, seller, etc calls lender and complains like crazy. Lender calls appraiser and says I need to request ROV. Appraiser says okay.

I won't let my client send me a bunch of crap on an ROV. I set the rules with my client on an ROV. I am responsible for SOW.

USPAP makes it very clear who is responsible for SOW.

 

[Surf Cat]

USPAP makes it very clear who is responsible for SOW.

Many appraisers don't care what USPAP says.....why should AMCs?

 

[Zoe]

Many appraisers don't care what USPAP says.....why should AMCs?

I am not sure that is true.

Your jumping ship on me. Separation of fees as written in original bill would have changed the whole landscape and market in the appraisal profession.

I think most appraisers care about USPAP. So we disagree on that point.

 

[Zoe]

Many appraisers don't care what USPAP says.....why should AMCs?

One more point. I won't badger you. Study market structure and see how commingling of fees changed the market structure of appraisal profession.

I like you.

 

[Zoe]

I can tell you why commingling of fees exists. Lobbyist got to congress and got the bill changed at last minute.

Do you agree or disagree?

 

[Zoe]

Why was the bill changed? Why is always the hardest answer.

Who, what, when where, and why? Why is always the hardest answer.