Tater Salad
Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Missouri
I would say that the good guys win, but I just broke even...
A couple of months ago, I appraised a home for a purchase that was a rehab in one of those areas known for shoddy flips.
The main level looked fine, but the basement was wet. Took photos, required an inspection by a licensed professional, the usual. All seems fine.
The loan officer calls, and states that the R/E agent (who also owns the property) says that all the copper pipes in the house were stolen and not present at the time of my inspection, leading to the water. They wanted to know how I could have possibly missed something like that. 8O
After a mad dash back to the office to look at all my interior photos (I had one of the open joists in the basement) there were copper pipes everywhere. The agent was just trying to tarnish my sterling reputation. :x I knew I couldn't have missed something that obvious, but I was scared for a minute! I sent them the picture, stood by my guns, and didn't hear back.
It turns out they got a different appraisal from someone who was willing to look the other way and closed as is. Now the punch line: the water was from a sewer problem that the owner knew about and didn't disclose (I guess my nose wasn't working that morning or they cleaned it up before I got there and just couldn't get it to dry in time). The buyer has a relative that is a circuit court judge in the city and an aunt who works for the IRS. She is suing the R/E agent, home inspector and appraiser #2. You hate to feel good about someone else's misfortune, but when they create it themselves, I think it is ok, don't you? :twisted:
And I still get business from this company as they always were a good client, they just stumbled. Sometimes, life is good.
A couple of months ago, I appraised a home for a purchase that was a rehab in one of those areas known for shoddy flips.
The main level looked fine, but the basement was wet. Took photos, required an inspection by a licensed professional, the usual. All seems fine.
The loan officer calls, and states that the R/E agent (who also owns the property) says that all the copper pipes in the house were stolen and not present at the time of my inspection, leading to the water. They wanted to know how I could have possibly missed something like that. 8O
After a mad dash back to the office to look at all my interior photos (I had one of the open joists in the basement) there were copper pipes everywhere. The agent was just trying to tarnish my sterling reputation. :x I knew I couldn't have missed something that obvious, but I was scared for a minute! I sent them the picture, stood by my guns, and didn't hear back.
It turns out they got a different appraisal from someone who was willing to look the other way and closed as is. Now the punch line: the water was from a sewer problem that the owner knew about and didn't disclose (I guess my nose wasn't working that morning or they cleaned it up before I got there and just couldn't get it to dry in time). The buyer has a relative that is a circuit court judge in the city and an aunt who works for the IRS. She is suing the R/E agent, home inspector and appraiser #2. You hate to feel good about someone else's misfortune, but when they create it themselves, I think it is ok, don't you? :twisted:
And I still get business from this company as they always were a good client, they just stumbled. Sometimes, life is good.
Ok was reading one of leeann's posts and just had her on my mind she is such a great gal