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When a listing isn't a listing per the LO

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Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
I completed a URAR about a month ago for a “real” bank. When I met the owner at the property the home was vacant with a for rent
sign in the yard by Acme Realty...it was not listed for sale. They ordered it as owner occupied. I told the bank after the inspection what the situation was, completed the report and commented on
what was what, got paid and didn’t hear any more. Now I get a fax request for a “transfer” from a well known seedy
mortgage broker......I’ll spare everyone the boring details of the “transfer” part. :) The LO called
and told me to take out the comments about the subject being “For Rent”. I asked why. He said
because when a property is for rent it isn’t the same as being for sale. I replied if that is so, why
do I need to take it out? He replied, it slows down the loan process.....I replied that I would not
“take it out”.....I went on to ask him why didn’t he just use his bottle of “white out” like the
rumours say happens on those occasions......mortgage boy bristled at this one. Has anyone else ever run into this? By the way, I hung up on him before he had a chance to ask me to change the box that says "Vacant". :)
 

Dave Smith

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Wisconsin
Bobby:

I've had similar requests, as have all of us. I usually tell the caller "Sure, for $1,000,000 in cash."

After all, if I'm going to prostitute myself and lose my certification I'm going to have to retire and I need funds to retire on. On second thought, I don't think $1,000,000 is enough any more. :D
 

Mike Simpson

Senior Member
Joined
Jan 30, 2002
I once answered my phone on a regular basis, and was willing at one time to go the extra mile for a client--as long as their request was reasonable and fell within guidelines & ethics.

However, being a quick study--I now only answer the phones for valued clients (unknowns/privates & unwanted's can leave a message), and I've gone from 35,000-45,000 miles a year on my car to just over 11,000 miles a year. Too many former mortgage clients abused their previliges, and took advantage of our desire to serve our patrons. It's unfortunate for them, but I've gotten to a point where I no longer worry over turning work away, and I now accept only those orders & clients which make me the most money & are the most reasonable to work with.

I wouldn't have answered the phone when this jerk called. I'd have let him leave a message and decided at a time convenient for me how to handle the situation (if at all). I've just gotten tired of the homeowner who'd call out of the blue to tell me I was 2" off the garage measurement, or the unreasonable L.O. described in your post. I find putting my thoughts and findings in writing to be far more productive than fielding an unexpected phone call.

-Mike
 

larryhaskell

Senior Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Nevada
Bobby:

Had one a month or so ago. We had appraised the same property about a year earlier & there was a tenant in the house because the owners lived about 150 miles from Reno. In fact, a portion of the basement was not accessible because the owners used the space for storage. This year we get a request & I go out & the same tenant lives in the house. I marked tenant occupied & sent the report. Then the calls started. Can you change to owner occupied? No, it was tenant occupied. The LO tells me they know but eventually the owner's son will be living in the house. I respond, that may be but their son wasn't in the house when I was there. We went back and forth for a while until the LO actually asked me if I would stake out (like a private detective) the house to determine who was actually living in the house. This request rates in the top 5 of the dumbest things I have ever been asked to do by a LO. Needless to say, the conversation went downhill from there.
 

xmrdfghap

Senior Member
Joined
Jan 15, 2002
Professional Status
General Public
State
Florida
Larry, Iwouldhave been tempted to do a Rockford File type request....$100 per hour with a $5000 nonrefundable retainer.
 

Tim The Enchanter

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Iwouldhave been tempted to do a Rockford File type request....$100 per hour with a $5000 nonrefundable retainer.

I bet you could do it in a lot less than 50 hours too. :lol:
Seriously, I'd rather not waste time on this kind of crapola request.
 
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