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Withdrew from an assignment

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Beth Stevens

Thread Starter
Sophomore Member
Joined
Jan 14, 2007
Professional Status
Certified Residential Appraiser
State
Washington
Okay.........I made a tough decision yesterday thats not being received real well and I just want some feedback as to whether you guys think I screwed up, or if I did the right thing....Give it to me straight!!

Here's the deal......about 2 weeks ago, I received a drive-by assignment for a SFR in a complex location. Due to the location in a county with very limited data and the fact that this is a FSBO, right away I tried to talk folks into upgrading to a 1004. No go, so since I'm not swamped at the moment, I thought I would just take the extra time to gather data. I did the drive-by on the property, blah blah blah. Come to find out that there is a new survey being done for the sale that I need to wait for. The days are slipping by waiting...and the borrower is in a HUGE rush. So, I start communicating that I am leaving for 10 days of continuing education shortly and, if they want this report completed, I MUST have all the data by such-and-such time, in order to have time to competently analyze the data and reach a COMPETENT final opinion of value.

Long story short, I got the last of the data YESTERDAY AFTERNOON. More than 24 hours after the very latest deadline I told them I could receive it, and still have time to complete the assignment before I leave. As I sit down late yesterday afternoon (still trying to be the "good guy" and finish this for them) I see I've got things in different data sources that are going to need further verification, as they don't match!! In the meantime, the borrower is calling and asking if I would have it in by this morning, and the seller is calling and telling me that the County data is all wrong and should say this and this and this.......AAAAAAHHH

So..........I sent the client an email and withdrew from the assignment. I referenced AO-19 and stated that I could not complete the assignment competently, with the scope of work so limited by deadlines and the lack of consistent supporting data for a 2055. I communicated clearly throughout. I already put a refund of the FULL fee in the mail back to the borrower. I apologized for the inconvenience, but stated that my first priority must be completing the job COMPETENTLY, which could not be done under the conditions. This morning, the borrower is leaving messages that he's going to sue me.......blah blah blah.

So.........Was I right to put competency first? I'm curious to hear the responses. I feel like I did the right thing, but I'm interested to see how many of you would have completed the assignment with what you had.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Beth,
You did the right thing. The only better thing would have
not investing your time for nothing. Complicated properties never
get easier. Trust your first instincts.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Yes, From what you've written here, this sounds like the best option for you. You must have enough data to complete a "credible" appraisal and report, especially on the Fannie 2055 form.

As to the borrower's threats, do you have an attorney you can refer him/her to? I would simply tell the borrower that from now on all communication must be directed to your attorney.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
An alternative (which I would most likely have taken) would be to complete the report with the verifiable facts that I had and made the report SUBJECT TO clarification of the hearsay data that was submitted verbally to me.

The loan processing could have proceeded while you were away and everyone could be gathering the documents you need prior to closing.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
The delays on THEIR part getting you the NECESSARY DATA was the root cause of the problem. Just document your file, and have a nice trip. Remember my moto: The lack of preparation on your part does not constitute an emergency on mine. :)
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
Ditto.

An alternative (which I would most likely have taken) would be to complete the report with the verifiable facts that I had and made the report SUBJECT TO clarification of the hearsay data that was submitted verbally to me.

I would tell the borrower to go scratch. Sue you?..for what?..doing your job?
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
You did everything that you could do. I wouldn’t worry about it. Just think of the nightmare you avoided. You know what would be next if you had completed the assignment and it wasn’t to their “expectations.”:)
 

Beth Stevens

Thread Starter
Sophomore Member
Joined
Jan 14, 2007
Professional Status
Certified Residential Appraiser
State
Washington
Mike--I failed to mention that the borrower is desperate to close FRIDAY. As in TOMORROW. With virtually no good comps within 20 miles. :(

You know.......I really have to give credit to someone on the forum for helping me make this decision. I wish I could remember who it was.......but someone said a week or two ago in a post about a different topic (but it applies here) something about, "....they won't be there holding our hands when we do incompetent work and are facing a disciplinary hearing..." So thank you to whoever said that!! Its a great reminder!!:clapping: :clapping:
 

Tudor

Member
Joined
Aug 15, 2006
Professional Status
Certified Residential Appraiser
State
Arizona
Sucks you spent all that time for free. I wonder if their attorney would give money back in a similar situation.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
Mike--I failed to mention that the borrower is desperate to close FRIDAY. As in TOMORROW. With virtually no good comps within 20 miles. :(

You know.......I really have to give credit to someone on the forum for helping me make this decision. I wish I could remember who it was.......but someone said a week or two ago in a post about a different topic (but it applies here) something about, "....they won't be there holding our hands when we do incompetent work and are facing a disciplinary hearing..." So thank you to whoever said that!! Its a great reminder!!:clapping: :clapping:

It would be impossible for me to determine how many "desparate for closing" situations have been extended. It happens all the time. I would still take the alternative as I wrote. Your withdrawal and return of the fee would cause an even greater delay. See Legett's response.
 
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