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Some Days It Just Doesn't Work Out...

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Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
This broker sends me about two a year. The report being discussed via e-mail is his first request for this year and it was a COD at my insistance. ENJOY!

LO's says;
Thank you for getting it to me so quickly. However, I’m wondering is this the right number because the purchase price on the contract states $147,425. Would you please give me clarification on the 137,500. That doesn’t seem accurate.


Andrew Answers;
This is the market value in the neighborhood and the market area of west Gaston county. The subject is listed for $137,425 in MLS by this seller - '**** Homes'.(house is completed all features are considered).
Essentially, this is what the Builder is selling them for to anybvody who walks off the street and wants to buy one.
Sorry if that does not fit with what the buyer thinks she is willing to pay.
Andrew


LO, says
Thank you for responding. Essentially, that still leaves her in a bad situation. From my dealings with other appraisers, it is standard practice to call and inform of the discrepancy in contract prices and appraised values before completing. Since we are unable to use this appraisal, Will you please refund the money?


Andrew answers
No, I will not refund any money, I did my job, and I disagree with you that it is standard practice for appraisers to do work and refund money because your deal wont work. I have never operated in this fashion.
Sorry it wont work for you.
SIncerely
Andrew


LO responds;
Dear Andrew,
Thank you for teaching me what type of business man you are. Now I understand why you were so concerned with payment being sent before you delivered the appraisal. Since you DID NOT call to inform us of the DIFFERENCE in contract price and what you thought it would appraise for, it is my belief you had intentions of screwing her out of the money from the beginning. Thank you again for the education. I know now not to send any more of my business or refer any more business to Andrew Picarsic’s Appraisal service.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Welcome to my world, Andrew!

Gee, I think you'll never qualify for "Appraiser of the year"!

Congratulations!!!!

Think I'll ask Wayne about a specific section to put these examples into for future reference to our legislators.

And the media
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Andrew,

Please place the brokers name and e-mail address here. I would love to send this broker my opinion of the matter. I am sure others would, too. Wouldn't it be nice if we could overflow the brokers e-mail box with our opinions. It is not like you are risking losing business from them now. :twisted:
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
I would love to but E-mails are private thats why I redacted his name. I do admit that I may have had a clue about the value, but, hey who knows until you get out there, especially new construction like this was.

Funny thing here that the e-mails dont revel. The buyer was an investor trying to score a no down payment loan. Reason I suspected something was up was because she lives very near me and it was highly unlikely she would be buying this to live in.

I figure I was on the out anyway, so might as well get my money up front while I could.
 

Ross (CO)

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Way to go, Andrew, you did right ! What a jerk that guy/gal is. They used the same old "the other appriaser would at least call us...." b.s. line to get you to share their guilt. Of course, there is no refund of your fee. (A subtle hint to the others who do not create c.o.d terms...and then wonder why they may not get paid for a report ) The refund is for the BROKER to come up with....if he/she really has a heart, and cares about the borrower and their plight ! One might think that the buyer/borrower simply acquire the difference of $10K from their other assets and bring it to the table with them. Your appraisal does NOT stop these folks from working out their situation. This broker could even create a special personal loan for the individual. Fat chance. Then too, another appraiser may have a differing opinion....you got paid for your opinion.....and they can fund their deal with the simple investment in a second opinion. I think all purchase and re-fi scenarios should get 2 appraisals done, each and every time. Some brokers see nothing but difficulty and obstacles in their way.
 

Indiana Jones

Member
Joined
Oct 16, 2002
Professional Status
Licensed Appraiser
State
Indiana
Andrew- You should see how dumb this LO really is and dare him to report you for your "unfair" and "unprofessional" business practices! :rolleyes:
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Y we applauding Andrew I don't see where he sent that to the Bank Commssioner, Appraisal Board, Appraisal Institute, DA office, AARP, Congress Senate Finance committee or any place, except to us who get this type thing often trouble is always by phone never lucky enough to get it in writing.
 
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