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we need x amount

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sam strahan

Junior Member
Joined
Jan 17, 2003
Professional Status
Licensed Appraiser
State
Texas
i had a lender tell me that if i could get a value on an appraisal high enough he would have 3 more for me to do. i declined naturally. he asked why. i said i would appraise the property, but he may or may not be happy with the outcome. i later learned that the first borrower was related to the other 3 and they didnt have the money to pay for an appraisal. they decided borrower number 1 would get a home equity loan and give them some money so they could afford an appraisal and also get a home equity loans. geesh why me. glad to be here.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Maybe the pond scum is getting mixed and sturred due to the slow down of refi's.
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
I still get those calls weekly. I guess I haven't spread my bad attitude far enough!
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
sam,

That lender sounds like a "bottom feeder" steer clear of them OR, make sure the check is already cashed before you do the assignment. Good Luck and Welcome!
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Yup I fire them too and then follow up with a FAX or letter with the Ethics section of USPAP. Not that is matters to them.

"It is unethical for an appraiser to accept compensation for performing an assignment when it is contingent upon:

1. the reporting of a predetermined result (e.g., opinion of value), or
2. a direction in assignment results that favors the cause of the client, or
3. the amount of a value opinion, or
4. the attainment of a stipulated result, or
5. the occurrence of a subsequent event directly related to the appraiser 's opinions and specific to the assignment's purpose."
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Just yesterday......"can you pull some comps to see if it will come in at $XXXXXX before I order the appraisal?". My answer...."No". They said...."why not, all the other appraisers do". My response "Guess you and them haven't read USPAP". They said "What is USPAP?". I said, "the rules that say we can't do that". They said "Goodbye".
 
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