Turnaround Time?

[Doug Walters]

Why is it that every rush assignment that is needed in 48 hours or less, to make settlement, comes up a month later with an underwriter questioning a particular adjustment or comparable. Or the title search shows "drive" not road, avenue, court or circle, and they want the appraiser to change the report to reflect what the title work picked up that is contrary to appraiser researched information. I am not talking about post closing. It's still in processing :evil: when they place these requests.

Larry, I agree with you about running your business and not letting your business run you 8)
Doug Walters

 

[Larry Lyke]

With your regular Clients, you can get away with a lot in terms of turnaround time ONCE they get to know they can trust you about delivery.

I pride myself on NEVER missing a turnaround time quoted. And I promise every appraisal in writing via a separate fax for every order whether next door or in California and New Jersey.

If I run into trouble, I call the Client IMMEDIATELY and let them know what's going on and reschedule, WHICH means you are not missing your turnaround promise.

ANYTHNG can go wrong or require amending the delivery promise.

I know what the Client hates most -- because I hear about it from my Clients about the other Appraisers they use: 'The Appraiser lets the promise date go by without calling.' To me, that is unforgivable and DOES NOT happen by accident.

If possible, I would fire the Appraiser on the FIRST occasion without the possiblity of appeal.

 

[Doug in NC]

I am amazed and saddened by the fact that the appraisers in the poll are turning appraisals around (on average) in 2 days! Is that 2 days from the time they receive it, or two days after the inspection? I can understand sometimes churning out a quick appraisal when the lender is in a pinch, but consistently turning appraisals around in 2 days cannot be good for quality.

Anyone who is doing this is going to make mistakes, and what do you think the appraisal board will tell you when they catch you in a blunder? You will tell them "But, the lender needed the appraisal in 48 hours, that's why I messed up". YOU are going to be the one responsible, not the lender when you screw up.

Yes, it is no wonder we are losing business. Lenders have no respect for appraisers because they will do whatever they are told to do. Need all of your appraisals in 48 hours, OK. Need a certain value, OK consider it done.

I got 5 appraisals from one lender last week, he won't be getting values on those appraisals today. I couldn't even get all of the appointments scheduled yet.

 

[Doug in NC]

Oops, I didn't read the poll question slowly enough. I missed the part about "following the inspection". My mistake.

48 hours is typical for my turnaround, provided it is a "typical" home. One AMC gave me a 48 hour turnaround (verbal) requirement on a 2 bedroom, 150 year old, home on above-average acreage, in a rural area. When they called at the anticipated time, I told them they would have to wait another day. No problem, but next time I will charge a higher price for something like this. Try an AVM on this one! 8)