SFR, ADU, JR ADU

[ZZGAMAZZ]

Not sure if you're being facetious here....

However, if this was a Triplex this assignment would have been done long ago...... this has been going on for months now.... this is like ZZ's third thread on this property.

Can you imagine how many California appraiser's desks this assignment has landed on? They've all looked at the assignment, looked up the subject property and its zoning classification, took into consideration the multiple ADUs, looked up Fannie Mae's guidelines on ADUs, and lastly scoured for comps on the MLS...... even with the increased fee, they all threw it back!  LOL

That's possible although when the borrower contacted me because I appraised another property that she owns several months ago. She described this property and provided me with contact info the lender, who i contacted, and who I offended when I asked whether she was aware that GSE assignments can not pertain to this type of 3-unit improvements. She responded indignently that "this is a non-QM" refinance; and of course she was aware of the distinction. because it's her job to know. So..I presume that's she's aware of the lending regs. But yea it's definitely a PIA, but also a damn good learning experience -- not just that but the potential for two similar SFR's within a couple miles that would rely upon virtually identical market analysis, comps, etc., at double fee, during a period in time when work is fleeting sure seemed to be a blessing. But yea, I'm sure that your perspective is the prudent way to go.... so thanks.

 

[Surf Cat]

when the borrower contacted me because I appraised another property that she owns several months ago. She described this property and provided me with contact info the lender, who i contacted, and who I offended when I asked whether she was aware that GSE assignments can not pertain to this type of 3-unit improvements.

Whoa, whoa, whoa....Dude....If a borrower has concerns about the appraisal, they must go through their lender or loan officer, not the appraiser. From what you wrote above, it sounds like you had an in-depth conversation with her.....

More red flags.... you contacted and offended the lender and told them the borrower gave you their contact info. Do you think there's a possibility that they would scrutinize your reports more because you offended them and had an in depth conversation with the borrower?

In regards to the carrot on the stick for future work....

"A promise is a promise only when it’s kept. Otherwise, it’s a lie."

 

[ZZGAMAZZ]

Whoa, whoa, whoa....Dude....If a borrower has concerns about the appraisal, they must go through their lender or loan officer, not the appraiser. From what you wrote above, it sounds like you had an in-depth conversation with her.....

More red flags.... you contacted and offended the lender and told them the borrower gave you their contact info. Do you think there's a possibility that they would scrutinize your reports more because you offended them and had an in depth conversation with the borrower?

In regards to the carrot on the stick for future work....

"A promise is a promise only when it’s kept. Otherwise, it’s a lie."

Yes I agree wholeheartedly, except the notion that any lender gives a F about anything except the value needed to make a deal work.. to wit as the loan officer upon being un-offended tasked me with the chore to find an AMC with witch I am approved, and which would promise to allocate the assignment to me personlly if the lender places the order with that AMC.