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This company can me.

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Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Got a request to do an appraisal. Did the apprisal. Eight comps in four blocks of the subject. Two comps in the same block. Two comps with in two blocks. :D

The subject appraised last year at $160,000.00 the guy got his loan and spent the money. Coming back this year needed $180,000.00 Well I brought the value in at $142,000,000 with eight comps. :wink:

The money sales person called me up and said they had another appraiser find additional comps that were about a mile out from the subject and for me to redo the report that would bring it in at the $180,000.00 just would need to make age ajustments and a little on the condition and sq. ft. (By the way the new comps were in a new area one and two year old homes and another 500 to 800 sq.ft. more) :roll:



I said no. So they said I would half to refund the owners COD fee, because he would be paying twice for an appraisal, if they had someone else do it. :evil:

Well the owner called me last night and said he wanted his money back, because I did do the appraisal correctly. the money sales person had given him my phone numbers. :twisted:

Money sales people are getting right down there with where I use to work. 8)

I knew after one week of working for this company that it was just a matter of time before I can them or they caned me. Heck I didn't even last two weeks. They call up and cancled all there orders. To bad I have them completed. I sent them the appraisals any way. 8O

What would you have done. Remember I am on a learning curve. :wink:

Do have one good company that has kept me around for six months. The president of the company is even going to the USPAP Class next week on USPAP Updates and Residential Appraisal Trends with me. :)


Ray Miller
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Stand firm, keep the money and make them pay you for what you did!! You did the work, you keep the money.
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
You are doing the right thing. Stay the course.

You were hired to form and give an opinion of value; not facilitate a loan.

Remember that if you take less than the agreed amount for the appraisal, you are in violation of USPAP. Sure, nobody would probably ever know of it except you. However, that is something you want to build your learning curve on.

You are doing all right. Just keep it up.

And welcome to the real world of appraising.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Ray,

Stand very FIRM and demand payment, no refunds, take them to court if they don't pay.

Stand very PROUD for being who you are!

Write this up very professionally and send it to all your local, state and federal legislators, and all media; include the link to the Appraiser's Petition.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Ask the instructor what is legal and what are the consequences of lying like he**. Then report the SOB to the state.
 

Ross (CO)

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Ray, .....Hang in there, you did right. You may have only phone conversations as the direct uncomfortable experience of discussions with this one client but make it a habit to write down thorough notes of everything they say as the conversation goes on, and keep that in the file. Of course, any printed record of their efforts to influence or coerce are just as worthy of filing. Unfortunately too many homeowners view their property has a perpetual cash register and every 6 months or a year they dig into the drawer. Most of this nation has been on a good long run of appreciations in value but now there are plenty of indications that value stability and declines are going to linger for a while. This neighborhood you just worked in sounds like one of those examples. Your report simply ripped the blinders off the h/o and his cohort at the money "store". Some refuse to accept the blatant facts of the market. If the loan officer was truly, I mean truly, desirous of helping the borrower he might reduce HIS fees so the next appraisal was not such a burden to their applicant. Don't count on that happening, for their hearts are colder than the front they put up. You, my friend, have scored a major victory with that cooperative attendance of your client acquaintance at the USPAP class. Richard C. may agree ....that fish is a "keeper".
 

Randy Beigh

Senior Member
Joined
Jan 16, 2002
Ray

Had one of those kinds of homeowners about 6 months ago. They ranted and raved. Then the guy says he will turn me into the state. I gave him the phone number and person to speak to and we hung up. Last time I heard from him. State never called, either. Go figure.
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
The HO won't be paying twice for an appraisal. He paid once for an appraisal, another fee for a da^%$d lie.
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Ray,

Stay strong....Keep the money. You did the job; you are entitled to the fee. Good luck.

Charlotte
 

Stephen J. Vertin MAI

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Illinois
Ray:

Turn the leader in. If it is a bank contact the Feds or the State depending on their charter. If it is a mortgage broker turn it over to the State. Until more of us start doing this and doing it regularly these people will continue with this type behavior. Here is a link that tells you how to do it.

http://www.appraisalinstitute.org/govtaffa...ient_pressr.asp

What blows me away is now they expect the money back when you do not hit the number. This shows me number hitting is epidemic. We will hit your number or double your money back. Incredible, simply incredible.

Steve Vertin
 
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