When's An Appraisal Not An Appraisal?

[Mike Simpson]

TC-

I love the response.

My wife just got home not more than an hour ago with our appraisal from a Landsafe approved appraiser. It's a 2055 and we paid $425 for it (thought the lender ordered a full appraisal). I don't know what Landsafe's going rate is now, but they used to pay $250 for 2055's in this market. That'd be a 70% MARKUP!!!

In a previous post I talked about the Landsafe experience; their approved appraiser first sent out an unlicensed appraiser (unsupervised) to inspect our home for an FHA Loan. Next this company wanted to send out an appraiser who'd received a cease & desist order some years ago...apparently they've got their license back and are only suppose to perform appraisals only with direct supervision (lender informed us). After some time the owner of the company came out to inspect our house himself. Problem is he missed 2 appointments in the same day (after rescheduling), he didn't call for 30 minutes (the first time) and 45 minutes (second time) after he was suppose to be here. On his third appointment in the same day he was 30 minutes late!!!

I've never given that kind of service ever in the 13 years I've been doing this! Sometimes the consumer gets what they pay for--well, not in this case. I've got other Landsafe horror stories, but I'm getting typers cramp!

-Mike

 

[TC]

If I could get 425 a pop for a 2055, I would bust my hump for 1 week per month and spend the rest of the time poolside.


What am I doing wrong? or what am I doing right?

TC

 

[Karl]

This thread would be humorus if it wasn't for the FACT that there must be those out there that are doing these type of GUESSTAMITS of VALUE. OR are they saying there are hoping that someone is HUNGRY enough to do them. I suppose there are those that will as we had an Appraiser drive from Benson AZ (200 + one way) to Eloy AZ not only Eloy but Silver Belle Estates of Eloy that is 16 miles to the closest land line phone. to do a Manufactured home. The mileage had to EAT the profit. Wonder if the lender will ask for another Comp.

 

[Mountain Man]

Like Karl, I've seen them come from all parts of the world...... for the AMC fee!!

If I'm going to go broke, it's going to be while I'm sitting at home. Or better yet, while I'm sitting on the fishing boat in the middle of the lake.