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Refi Dillema

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Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
O.K. I'm gonna refi the 'ol rancho. Is it ethical to refi through one of my clients? (Just in case anyone had a question......NO!....Of course I'm not doing my own appraisal! GEEEEZ :D ) Anyway, what do you guys do? I haven't ever refi'd while holding an appraisal license....Had one client tell me that IF I were to refi with them, they'd 'give me a 'deal' on the points......Too good to be true? :unsure: Thanks....
 

larryhaskell

Senior Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Nevada
Bruce:

I hope its not a problem because I'm refing with a good client right now. He also happens to be a good friend. I don't view it as a problem though because I've killed (RE agent logic) deals for him in the past and I'm sure it will happen in the future.
 

Darrell Hignite

Sophomore Member
Joined
Jul 16, 2003
Professional Status
Certified Residential Appraiser
State
North Carolina
Why would it be a problem to Refi with anyone. I would think you would rather use one of your good clients instead of someone you don't know. Just make sure that you don't pick up the check at lunch if you take them out after the loan application. Let them.

It's not unethical to use someone that uses you. Of course you won't do the appraisal, but make sure that you don't put any pressure on the appraiser when he gets to your home. But do have cookies baking in the oven and plenty of coffee brewing. Happy Appraising.
 

Liz South

Junior Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Virginia
No delima here. I Just did the same thing. Only question is how much detail about your personal life do you want your client to know.

I have spoiled this client with exceedingly superior service. (if I must say so myself)

The appraiser they got to come here took over 3 weeks after he saw the house to complete the 2055 report. (What a crock).

Liz S.
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
Why would it be unethical? You will pay closing costs like any body else right? You will have your house appraised by the second best appraiser in the county right? You will be in essence, purchasing something and in reality, have no part in the determination of the loan or the transaction right?

What could you possibly do in refinancing your home that would make it "unethical"?
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
OK, OK, ! Guess I should have known better......Anyway, thanks for the replies..... :redface:
 
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