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Reordered appraisal

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Reagan1234

Freshman Member
Joined
Jun 6, 2012
Professional Status
Certified Residential Appraiser
State
Ohio
I just finished an appraisal for an AMC for a lender. Property appraised below the sale. I received an order request for a drive by of the same property same AMC same lender 1 day later. Could this be value shopping? Is this allowed? conventional loan.

Thanks!
 
LMAO.

That MANAGEMENT thing is really working out, aint it?

It could be value shopping or it could be that FHA second appraisal check thing.

Maybe you're the only appraiser that works for them?

Quote twice the fee and tell them that performed services regarding this property within the past 3 years and leave it at that.


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Why don't you (or your supervisor) just call them and ask them what is going on?
 
I did send them an email and told them I just appraised this property and asked if there was something wrong with my appraisal. So far have not heard back from them... I will not be doing this assignment.. lol unless they want to pay me to do the work twice and get the same answer. I'm certified, no supervisor. I was just curious if this was allowed, I thought there was a law against reordering appraisals.
 
You should have Wayne update your status. Sometimes we take the license status into account when trying to answer questions.

I thought there was a law against reordering appraisals.
Click to expand...

With all due respect, this doesn't sound like a question a certified level appraiser would ask.

All you would have to do is disclose the prior service. A drive-by would be really easy since you wouldn't have to stress out about the interior condition. If they come back and say they just want it then do it and charge full fee.
 
Maybe its an order for a different client/intended use?

I think I'd call them and let them know I just did it (as you did) and are they sure they want me to do it again?

When they said yes, I'd do it. My information about the subject will be superior (I presume) to anyone else doing a drive-by.

Disclose the prior service and get paid again. :shrug:
 
You waited all day to post this so you could copy me.
 
I tried to update my status didn't realize I had to contact someone to do that. Thanks for the info. Regarding the law information, does this only apply to FHA appraisals? If this is not a question a certified appraiser would ask, do you know the answer? or could you point me in the right direction? It appears by your answer that it's completely okay for the lender to do this. I don't feel okay with doing the appraisal for a second time so I'm going to let someone else have it. Thanks, sorry for the casualty in my question, I don't like to pretend that I know everything and I'm not afraid to ask questions when I don't. I've done appraisals for awhile, but haven't done a lot of lender work and am still learning. Thanks
 
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