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The $75 desk review...are they KIDDING?

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Kathy in FL

Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Florida
Did anybody else get this? From a sometimes, maybe two assignments-a-year customer. "We're going to be sending out lots of desk reviews. We pay $75.00. We want this and this..."

As busy as we ALL are...who is going to do this? Secretaries? That weird uncle that wants to appraise but that you don't want in your office? Cub scouts? Osama in disguise?

How can you do ANY kind of USPAP compliant review for a fee like that, and make any money at all? More importantly, what lender is going to take it seriously? Let's see...we paid this guy $300 to do a full URAR with an interior inspection, he actually (OK, well hopefully) looked at the subject and all of the comps in-real-live-person, and then we got this guy over here, we're going to pay him $75, knowing that he's breaking the rules of his profession...to tell us how the first guy screwed up.

Who ya gonna believe?

Kathy in FL
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I have a desk sitting on my front porch that I would sell for $75. They can view it and review it all they want.

I know an appraiser who takes those kinds of things. Sometimes she goes 60 miles or more to do it. I asked her why she wasted her time on that kind of crap. She said she was afraid they wouldn't send her the "good' work if she turned it down. I told her to at least counter with a higher price. She tried it and got substantially more than they offered (at one time they were paying $60). Now she is actually turning down some of them...maybe she'll learn before she starves herself.

ter
 

G-man

Member
Joined
Feb 4, 2002
Professional Status
Licensed Appraiser
State
Ohio
Hey, deja vue all over again. I recieved a very similar request a week or so ago to desk review an appraisal for the exact same fee. I thought, what the hell, it's a desk review. In my mind that means sitting at my desk, look over the report and note any obvious errors and/or omissions by the original appraiser. Slam dunk, gimme my $75 and have a nice day. Company calls back the next day and says they need three additional comps to support my different opinion of value. Huh 8O , says I? It's a freakin' desk review, how do you suppose I can provide comps for a subject I ain't seen, original comps I ain't seen, and provide new comps I ain't seen that add up to anything like an opinion of value. Problem is, the desk review form has an area for additional comps. So after much back and forth between that company and my boss :agrue: , I give them three comps from my database which I keep. What I love is this still don't amount to jack for an honest opinion of value. I thought, and still believe, a desk review is just to look over and find obvious errors with a report. Am I wrong on this or just not up on the latest appraiser news?
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
As far as I'm concerned, a desk review involves giving an opinion of value. You either agree with what the appraiser came up with or you disagree. Either way, you've giving an opinion of value. And to my way of thinking and understanding, if you've given a value, you had better follow USPAP and consider all approaches to value and be able to document your conclusions.

We had a call for a desk review yesterday. Judy told them that right now, we would be looking at doing it right after the first of the year due to previously scheduled appraisals. They did not even get to insult her with a $75 offer. I suspect if they had, she would not have been is such a good mood when I got home from the slippery-sliding driving all day.
 
B

Bemis Pownall

Guest
FRIEND OF MINE GOT AN OUT OF TOWN CALL...
"COULD YOU HELP US OUT WE WILL BE GETTING A LOT OF FIELD REVIEWS IN YOUR AREA COULD YOU ACCEPT THEM FOR $75.?"


HAHAHAHA

:icecream:
 

Dale Smalley

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Florida
G-man only the good appraisals are a slam dunk with a desk review. But who gets those. Lately I have been getting desk reviews and the AVMs that vendors are using to check value. Mr Carlsen is right you are doing an appraisal as you have to give an opinion of value and certify it. The fact that you don't inspect the property has nothing to do with it. The hard part is when you know the appraisal is BS and now you have to explain why it is and back up your statements. Not only do you have to know how to spot an inflated value but you have to prove it as well without showing that you have some bias to the appraiser.

My fee is $175 but charge whatever you want and as a bonus for this work you get to be called a dealkiller.
 

airphoto

Senior Member
Joined
Jan 15, 2002
Professional Status
Retired Appraiser
State
Pennsylvania
Will NOT state or re-state a value on a desk review .. only that the information, where available, has been verified as correctly reported. They wanna value, order an appraisal ..
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
G-Man:
I agree with the other posters: You did a review AND an appriasal if you stated a value. Best have the documentation to prove how you arrived at that value. Like the results of either a drive by or a desktop:
I din't look at it, took the data from the county (or the reviewed appraisal) and did a limited appraisal, kind of back up documentation.

I have been getting some oddball properties to review, and am actually honestly enjoying the "Here's my fee (nominal for the review- full boat for the driveby appraisal portion :twisted: ) and 4 week turn time quote I give the requestor(s)..."

This results in a gasp and fast hang up on some but on the others...
Some of them are actually taking me up on this as they have shopped the things around and been told NO so many times they actually have the picture in focus!!

Charge what you are worth folks.

This sort of review is educational and interesting! And if I am getting paid appropriately - actually enjoyable winter-time work! (no wet feet, drive and shoot and desk-time!
 

G-man

Member
Joined
Feb 4, 2002
Professional Status
Licensed Appraiser
State
Ohio
A positive update! After telling the reiview company to basically take a hike, they come back and agree to our fees for reviews, appraisals, the whole sha-bang! :multi: Yaay! A little persuasion apparently goes along way. Thanks for some of the information regarding these desk reviews. I will approach them with a lot more thought than previously. Some times I feel like such a :n00b:
 
Joined
Jan 16, 2002
These people are insane, but let it work for you. After refusing such nonsense, I glow with the thought that there is some idiot out there doing these things. After they go broke, there will be less competition.
 
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