- Joined
- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Illinois
Just started doing some work for Chesapeake again and remembered why I dropped them. Their addendum requests are just plain stupid. Not only that, but their addendum requests come across the fax with the title "THIS IS A REJECTION NOTIFICATION" and a notice of how they just may decide not to pay for that appraisal. Never mind that it took them almost a week to decide whether I should continue on a property with a bad basement. Apparently my time isn't worth as much as theirs.
Got one last week that wanted to know how I made my market change adjustment to an older comp. I said I looked at market data. They wanted to know the source and I pointed them to the "Source" line at the top of the grid. They then wanted to know specifically how I calculated it-- I told them I looked at sales data and saw how much appreciation there was in the subject's neighborhood. They finally accepted that.
Did another one today and and included the exact same language for an older comp. Got another REJECTION NOTIFICATION asking how I did the adjustment. I scratched my head because I answered it in the same way I did last week. They then wanted to know what % adjustment I used. I said, "Just use your calculator and calculate how much $3,000 is as compared to $138,000" She wanted me to calculate it. I said, "No, I'm not doing any sort of exercise in futility. I make absolute numeric adjustments, not percentage adjustments. You calculate it yourself." Absolute nonesense. I had to remind them that they are ordering a summary report, not self contained report.
Did one last week where the subject's roof was entirely shot and covered with rubber roofing for a quick fix. They just draped a huge piece of rubber roofing over the existing roof and it just hung over the edges of the house by about one foot. Other than that, the rest of the house was in average condition. I rated the house as "Average" in the grid and made a separate line item adjustment at the bottom of the grid for the roof situation. They then wanted the roof stuff taken off the grid and put into an addendum. No, I said- I am adjusting for it and that's the appropriate place. After the reviewer checked with an adult, she then told me to make the roof adjustment under the Condition field. I asked how she would like me to label the condition of the house because it still is average, and it would be misleading to change the overall rating just for that one component. And they did order the appraisal on the 1004 and Fannie's guidelines call for Good, Ave, Fair, or Poor on that line. She didn't have an answer and put someone else on the line. The second reviewer thought that her requests were stupid and allowed my original appraisal to stand as-is.
All of us Illinois appraisers are required to report the name of the individual person who actually ordered the appraisal. They wanted that taken off. No, I said- I'm not going to throw my license out the window just for Chesapeck.
I haven't received any addendum requests from clients in maybe a year or so. Chesapeck has sent me a half a dozen in the last week and they're making it nearly impossible to get the appraisals done in time because I can never put theirs to bed. They are almost always style issues rather than USPAP requirements or FNMA guidelines. I think they have a bunch of high school kids reviewing these things......sigh...
Got one last week that wanted to know how I made my market change adjustment to an older comp. I said I looked at market data. They wanted to know the source and I pointed them to the "Source" line at the top of the grid. They then wanted to know specifically how I calculated it-- I told them I looked at sales data and saw how much appreciation there was in the subject's neighborhood. They finally accepted that.
Did another one today and and included the exact same language for an older comp. Got another REJECTION NOTIFICATION asking how I did the adjustment. I scratched my head because I answered it in the same way I did last week. They then wanted to know what % adjustment I used. I said, "Just use your calculator and calculate how much $3,000 is as compared to $138,000" She wanted me to calculate it. I said, "No, I'm not doing any sort of exercise in futility. I make absolute numeric adjustments, not percentage adjustments. You calculate it yourself." Absolute nonesense. I had to remind them that they are ordering a summary report, not self contained report.
Did one last week where the subject's roof was entirely shot and covered with rubber roofing for a quick fix. They just draped a huge piece of rubber roofing over the existing roof and it just hung over the edges of the house by about one foot. Other than that, the rest of the house was in average condition. I rated the house as "Average" in the grid and made a separate line item adjustment at the bottom of the grid for the roof situation. They then wanted the roof stuff taken off the grid and put into an addendum. No, I said- I am adjusting for it and that's the appropriate place. After the reviewer checked with an adult, she then told me to make the roof adjustment under the Condition field. I asked how she would like me to label the condition of the house because it still is average, and it would be misleading to change the overall rating just for that one component. And they did order the appraisal on the 1004 and Fannie's guidelines call for Good, Ave, Fair, or Poor on that line. She didn't have an answer and put someone else on the line. The second reviewer thought that her requests were stupid and allowed my original appraisal to stand as-is.
All of us Illinois appraisers are required to report the name of the individual person who actually ordered the appraisal. They wanted that taken off. No, I said- I'm not going to throw my license out the window just for Chesapeck.
I haven't received any addendum requests from clients in maybe a year or so. Chesapeck has sent me a half a dozen in the last week and they're making it nearly impossible to get the appraisals done in time because I can never put theirs to bed. They are almost always style issues rather than USPAP requirements or FNMA guidelines. I think they have a bunch of high school kids reviewing these things......sigh...