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We will pay a premimum but.......

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Frederick R. Ruffell

Thread Starter
Senior Member
Joined
Jan 21, 2002
Professional Status
Certified General Appraiser
State
California
The past two months have been VERY busy as I am sure you all know. Well this afternoon 4:30 pm the shar-pei and I were roused from our friday afternoon drool session (i.e. Nap) by a phone call from someone looking for an appraiser. I mumbled something about being interested. He said his company had three appraisals here in San Diego and they were willing to pay a premimum. Now, I am fully awake but the shar-pei is back to snoring and drooling. He continues "we will pay a premimum but we need all three reports by monday morning"... I was stunned and all I could say was "good luck". I suppose I should have waited to see how much of a premimum they were willing to pay but I already have 3 driveby's put aside for this weekend and a 1025 waiting to be written up. Any one else getting similar requests? Oh and by the way I don't get up untill 9 am, (if I got up any earlier to do inspections I would just be stuck in traffic) and often complete reports at 2 am, so I often take afternoon naps even though I am that busy.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
I've had a couple of calls like that this past years. Make sure you get your money up front. Hope you accept charge cards.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Haven't got any super rush request like that lately, but have had my share in the past. Got to agree with Pam, if they are not your regular client, cover yourself to get your $$. Pay Pal, or other similar online payment services, will allow you to take payment by credit card. Lately I have been wayyyyy past busy, but.....say double the fee on all three, I too would skip my afternoon nap. 8)
 
B

Bemis Pownall

Guest
seems they are all a rush, "opps slipped through the cracks"
gots to have monday am or else.

why? rates are headed down not up, no missed locks, doesnt compute

lenders slamming HOs i suppose
make them look good at our expense

can you believe Tonya got voted out?
 

Ross (CO)

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
We will pay a premium......is one thing, and a nice jesture. Far more impacting and showing a matched commitment would be...."We will deliver a premium...." ! Upon doing that the rapid turn-around of needed report becomes viable. Being asked to start an appraisal ...today...and we already have an appointment set up for you at noon when the h/o meets you there. Followed by..... asking if you could get it written up and then e-mailed out to them by end of that afternoon....is perhaps a temptation to perform that many receive and accept. Are there any among us who have done just that...and are still waiting to get paid ? You know, the house was trashed, it was extremely challenged with regard to marketability, you came in with a number several 10's of $ Thousand too low to rescue this person from the situation they created. The loan never closed and funds were never disbursed and that includes you. I might be inclined to "promise" this.....I'll (re)set the appointment for tomorrow at noon and I'll start my data researching right away. You go ahead and send my fee of $zzz now, via overnight carrier and for a morning delivery here. I can start writing up numerous parts of the report this evening. When your cashier's check arrives tomorrow I'll go out and see the house as scheduled, return to office and get that report completed and e-mail it to you by the end of tomorrow afternoon. Their desire to have your speedy turn-time will be met by their commitment to "deliver" the premium, not just say that they will "pay" a premium.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
Being cynical is part of our job description, right???

The Friday afternoon (late) call from an unknown entity with a Monday deadline for three appraisal assignments should spell just one thing:

"Danger, Will Robinson, Danger!!!" ("Lost in Space" reference)


Well, maybe two things:

"Run, Forrest, Run!!!" ("Forrest Gump" reference)


It's almost guaranteed that there are problems with one or all of the properties. Problems that may not be apparent to an appraiser who is being rushed, but are possbily known by everyone else in town except the appraiser. Problems that the appraiser may not be able to resolve during a weekend.

It's also almost guaranteed that the appraiser won't get paid at all if one of the three loans doesn't close; and almost certain that if they do get paid that it won't be on a timely basis or come without several phone calls for collection.

It is almost guaranteed that if the appraiser does succeed in completing the assignments and getting paid that there won't be any further appraiser/broker relationship beyond the one panic situation. And that the added stress from killing themselves to deliver will help shorten the appraiser's lifespan. And threaten their marriage. And **** their dog off (especially if it's a Shar Pei).

It doesn't sound like you were desperate enough to take this on. Good on 'ya. Maybe they won't be able to find anyone to take it on under their terms and maybe they'll learn their lesson and plan a little better in the future.


George Hatch
 

jtrotta

Senior Member
Joined
Jan 16, 2002
As much of a RUSH everyone thinks it is; they still won't git it closed for 3-5 weeks; why :?: nature of the beast, how many other RUSH orders are out & about thruout the country :?:

It's a ploy to catch you offguard and have you create mistakes; plus they anoy the hell out of you with 2-3 calls a day. Double/Triple Fee - ain't worth it.


8)
 

TEL2002

Elite Member
Joined
Jan 16, 2002
Professional Status
Retired Appraiser
State
Louisiana
This is Sunday am. Last Thur we got a job in the late afternoon. it is a purchase. No one answers the phone on Thur. Fri the phone is answered and the lady says never heard of my point of contact. Get a new phone number from client. It is his work number & he doesn't work On Fri. Finally reach him - he's on vacation in SC. Gives me buyers phone # and buyer is already living in house. I drove by the place Fri night & tried to reach buyer...no answer. I was hoping I could at least do the inspection Fri night. Buyer calls me this am at 8:00. Please come out today...This is sunday. I say no can do...I will be typing reports all day. I will squeak him in Tuesday and I do mean squeak. He says come out today and he will give me $300 cash for the extra trouble...loan is supposed to close Wed. and they have been trying to get an appraiser out for 2 1/2 weeks. Sure wish I wasn't so darn busy...that 300 sure sounded good...but there is no way I have enough time. Oh well.
 

terr

Freshman Member
Joined
Jan 29, 2002
Professional Status
Certified Residential Appraiser
State
Wisconsin
Nearly every order I get now for the last few years is a rush job. When I started appraising I had only 1 or 2 rush jobs a year.

I know for a fact it takes at least a month to close on a purchase and 45 days to close on a refi. Yet clients want appraisals completed within 24-48 hours all the time.

I think this must be a ploy to make sure the loan originator gets his commission asap so he can go fishing over the weekend while we are working 24/7 with no life to get the appraisal done for them.

Just a suspicion. What do you think?

Terr
 
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