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What a joke! Why do appraiser's do this?

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BlueDog007

Thread Starter
Member
Joined
Jan 25, 2002
Professional Status
Certified Residential Appraiser
State
South Carolina
Ok. I am out in the field riding around today, not too busy, not dead. Just taking my time and enjoying the mild weather and sunshine heading to do a new construction appraisal. Then, I receive this email on my Blackberry......

Hi,

Could you please help me with this property:

zzz Cantley Road
Harleyville, SC 29448
Built in '99, 3BR, 2Baths, Manufactured home on 33 acres of property.
Value needed: $290k

Thanks,
zzz Appraisals

First of all, we don't do value checks, look ups, etc...2nd......I have no idea whom this person is, and I'm pretty sure I've never ever dealt with them....3rd...look again at the property characteristics.....what MORON appraiser(s) are doing this crap for these idiots?

I replied..........."This is a joke right"?......their reply...."Why do you say that?"

Whoever is providing this type of information are absolute bottom feeders. Hopefully, the current national economics of real estate will weed out appraiser's that get involved with this sort of crap and in a year or two....when the market comes back, which it will, those appraiser's will be long gone! Probably selling go-carts or something similar.
 
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Kevin A. Spellman

Senior Member
Joined
Aug 30, 2003
Professional Status
Certified Residential Appraiser
State
Massachusetts
It would take me a long time to learn how to use a blackberry, to many buttons.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
No professional courtesy? LOL. You should have asked if they wanted you to do the appraisal for them and quote your fee!
 

BlueDog007

Thread Starter
Member
Joined
Jan 25, 2002
Professional Status
Certified Residential Appraiser
State
South Carolina
Mike-

Good point. I just emailed her back with my fee!
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
But wait.

Did you not come close to doing an appraisal by rejecting the assignment based on the property characteristics alone?

You looked at the subject with it's 33 acres/1999 mfg house and said, in effect, "No way this could be worth $290K." To my way of thinking and interpretation of USPAP etc., your conclusions were, in fact, an appraisal.

Now if you said, "I don't appraise mfg houses on large acreage tracts." that is one thing. That is a business decision. But you made a value conclusion.

I suspect that sometimes our outrage against the stupidity of some HO and LO's is clouding our ability to take on an assignment free from preconceived notions and value judgments.

Economically for you, would it not have been better to stay within the confines of USPAP and accept the assignment with no value strings attached if you could get it? You would at least have another piece of business and the client would have an honest opinion of value.
 

BlueDog007

Thread Starter
Member
Joined
Jan 25, 2002
Professional Status
Certified Residential Appraiser
State
South Carolina
haahha.........Richard-

Where is the value conclusion? You are way off, sorry. The request was for a "value check". Once our office reads this verbiage, that's the brick wall. We don't even care about the remaining information that is provided.

Therefore, NOTHING in regards to this property were reviewed including sales in the area. Shoot, this property could be worth $800,000.......or $75,000. Hell if I know or care to know. I declined the "value check" request, as always. Economically, I don't care about this "piece" of business. Again, I have never done business with them before. Our office operates by companies sending appraisal requests, not value checks. That's our business plan.
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
...what MORON appraiser(s) are doing this crap for these idiots?

I replied..........."This is a joke right"?......their reply...."Why do you say that?"...
Hopefully, the current national economics of real estate will weed out appraiser's that get involved with this sort of crap and in a year or two....

Where there is demand, there will always be supply.
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
I realize that the call was for a "value check". However, rather than sluffing it off as a value check by some idiot, it appeared to my reading that the disdain for the request was that a mfg on 33 acres could not be worth the estimated value. That was the appraisal, remembering that an appraisal does not have to have a client or a 1004. The simple act or process of developing an opinion of value or having an an opinion of value is considered an appraisal if you are so licensed.

If I misread it, so be it.
 

Ross (CO)

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
The first hook in that message is the assumptive remark asking you "to help me with this property". No wonder your reply was....what it was. What does "help" mean ? He should have said...."I have a h/o who wants to refi an ARM this month and I would like you to APPRAISE their property. Can you possibly schedule to see 425 Cantley Road on Monday, and then deliver a URAR report to me within 48 hours of that visit ? I will acknowledge the charged fee that you feel represents the necessary analysis and time this assignment will require".

The second hook is the "value needed..." comment compounding the legitimacy of the entire communication. By effectively rejecting the message you have NOT told them that the "value needed.." amount is NOT befitting of THAT property. If this prospect/client truly was on top of their game and was in-synch with this rapidly evolving marketplace they would have expressly asked you for a "Fully-USPAP-Compliant Comp Check", and be right up-front with that. Whether or not there would be a fee matter to resolve would be something for the both of you to discuss via Blackberry or by a direct phone call.

I have no doubt that your reply to that type of order would be the same as mine. Those F-U-C CC's are not in my inventory of available services. The prevailing reality still exists that clients don't pay for comp checks. In this situation the emailing prospective client has NOT ORDERED anything....yet.
 

BlueDog007

Thread Starter
Member
Joined
Jan 25, 2002
Professional Status
Certified Residential Appraiser
State
South Carolina
Ross......RIGHT on....

I never implied any value at all. Again, I have absolutely no idea as to what this property is worth. I rarely cover this rural area. My point is to this company is that we don't do value checks. Period! And both parties that are involved (requesting / providing) such information for a property with these characteristics is a MORON.
 
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