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Shreiking Chase Manager

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Joined
Jan 16, 2002
Appraisal comes in $38,000 below contract and of course
the buyer is one of their "best customers" (like I should
give a toot). Instead of thanking me for saving their customer money, I get an avalanche of e-mails citing
every sale in the entire ZIP code for past couple of years. Both buyer and bank manager want to know why I did'nt use them as comps (52 sales of all sorts of properties ranging from land sales to houses 2x larger in GLA). Subject is a FSBO and offer was above asking price (don't ya love these people).

I advise them that the best comps in their list were already used in my report. This is followed by another list of sales, which again I respond to by addressing why they were not used as comps. By now I'm getting extremely annoyed and running thin on patience.

On their third attempt to get me to cave in I simply stopped responding and ignored them - nothing more could possibly be said other than "sure no problem, I'll make your deal."

Within 24 hours there is a shrieky female voice screaming at me "I'm the manager and not accustomed to being ignored"....hmmm, well ya better get used to it because
there is nothing more to discuss, good-bye, click, dial-tone........guess I should kiss that account bye-bye.

Maybe a certified letter with copies of all the e-mails should be sent to nearest federal bank examiner and CEO of Chase. hmmm.......
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Maybe a certified letter with copies of all the e-mails should be sent to nearest federal bank examiner and CEO of Chase. hmmm.......

Bout now, that sounds like a fine idea!
 

Travis McGee

Senior Member
Joined
Sep 18, 2004
Joe- This type of scenairo is incubated by appaisers who routinely talk to the realtor/buyers, or whoever feels like haranguing them, about value post appraisal-unforunately their good intenions of educating people becomes exploited. What has happened now is that the profession has created a climate for this kind of abuse and pressure. Only way out is for one appraiser at a time to stand up to it.

Reality check-no one is talking to the appraiser about the market, etc, they are PRESSURING the appraiser. That is the one and only reason for these phone calls after the appraisal is done.

Your experience is why I have a problem with it as a business practice.

Anyway, I've been in your position many times. Wish we could sue for mental anguish!
 

Travis McGee

Senior Member
Joined
Sep 18, 2004
Joe-it's me again ( I have to get off this forum and back to work!) One has to wonder when the parties are so super agressive if something else is going on-like the purchase price being padded and then cash back to everyone?

By the way, I have no problem appraising homes for over contract price when value is there. How come no one calls then with other comps?
 

Larry Lyke

Senior Member
Joined
Feb 2, 2002
Jo Anne ~

That's a pretty serious charge in your post, "I later looked on public records and saw her name as part owner on a number of homes..."

If the Realtor was selling property in which she was a principal and didn't disclose it in the sales contract so that you the appraiser were made aware of it, it goes to say the purchasing parties probably didn't know about it either. She could very well lose her license if reported to the authorities.

A transaction held out to be arm's length but isn't always garners trouble for those who don't disclose.

Also, maybe the parties to the transaction would like to get a little of their money back and offer their attorney a payday.

Something to think about.
 
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