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UW Request

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Ron D. in NWA

Thread Starter
Junior Member
Joined
Nov 19, 2005
Professional Status
Certified Residential Appraiser
State
Arkansas
Guess I am just to generous. I have a UW that wants an explaination why I am not using the indicated sales approach value.

"Can you please provide additional comments to support not using the sales comparison approach?"

Gosh, I rounded up $600.00, a whole 0.005% above the indicated value. Just when I think I know what they are wanting sometimes like this come along. m2:
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Round down.
 

Webbed Feet

Elite Member
Joined
Feb 11, 2005
Professional Status
Certified Residential Appraiser
State
Canada
Guess I am just to generous. I have a UW that wants an explaination why I am not using the indicated sales approach value.

"Can you please provide additional comments to support not using the sales comparison approach?"

Gosh, I rounded up $600.00, a whole 0.005% above the indicated value. Just when I think I know what they are wanting sometimes like this come along. m2:

Not that I think this stip and your rounding have anything at all to do with each other unless you left out a specific comment of the stip.... But it still raises a question due to your "indicated value" comment your making here.

If your "indicated value" was $xx5,400, as I would think by your post, then you are saying you rounded up to $xx6,000. Why in the world would you do that? It is NOT standard rounding convention.

Webbed.
 

Scott Kibler

Elite Member
Joined
Oct 7, 2003
Professional Status
Certified Residential Appraiser
State
Illinois
Underwriters like it when the indicated value by sales comparison approach matches the estimate of market value.
 

Marcia Langley

Senior Member
Joined
Aug 26, 2005
Professional Status
Certified Residential Appraiser
State
Missouri
"Can you please provide additional comments to support not using the sales comparison approach?"

Dear UW,

But that is the appraoch I did use. Please clarify your question.
 

Smokey Bear

Elite Member
Joined
Dec 8, 2004
Professional Status
Certified Residential Appraiser
State
California
Turn the page, dummy. Or is that machine that churns and burns your appraisals before it sends it to the lender now only sending page 1 instead of just cutting off the addendum? :rof: :rof: :rof: (Not to mention removing your signature?):rof:
 

Ron D. in NWA

Thread Starter
Junior Member
Joined
Nov 19, 2005
Professional Status
Certified Residential Appraiser
State
Arkansas
Not that I think this stip and your rounding have anything at all to do with each other unless you left out a specific comment of the stip.... But it still raises a question due to your "indicated value" comment your making here.

If your "indicated value" was $xx5,400, as I would think by your post, then you are saying you rounded up to $xx6,000. Why in the world would you do that? It is NOT standard rounding convention.

Webbed.

Webbed,
So are you saying that you always base your value on the indicated value of the sales approach only? Thats whats it spits out so thats what it is?
 

NC Old Guy

Junior Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
North Carolina
But don't forget, perhaps it was $XX4,400 where $XX5,000 would be a perfectly OK type of rounding.
 
Joined
Mar 30, 2004
Professional Status
Certified Residential Appraiser
State
Arkansas
Not that I think this stip and your rounding have anything at all to do with each other unless you left out a specific comment of the stip.... But it still raises a question due to your "indicated value" comment your making here.

If your "indicated value" was $xx5,400, as I would think by your post, then you are saying you rounded up to $xx6,000. Why in the world would you do that? It is NOT standard rounding convention.

Webbed.

If the rounded value is within the range of adjusted values, Whats the deal? It is normal around here. As a fact, we always round to the nearest $1,000, and have never had a problem.
 
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