Here in Fredericksburg, most of my business these days is foreclosures. Every now and then I get a call from an appraiser; he or she wants a copy of the sales contract. As I am always on the listing side, and the appraiser has essentiallty been retained by the "other" side of the deal, this always raises a few questions in my mind.
Why did you not get a copy from the lender, the people who hired you? One might think that if they wanted you to have a copy of the sales contract, they would have supplied it to you.
Why do you need it? Assuming that your job is to come up with an independent determination of value, how is knowing the sales price going to help you be any more impartial? It sort of feels like having the judge tell the jury "go ahead - read the paper, watch the news, we don't care where you get your information."
I even had one appraiser this week start quizing me about the condition of the property. "Is it on a well?" "How many bedrooms does it perc for?" What is the condtion of the home?" "How is the carpet, and is it missing any appliances?" Was he trying to do some sort of virtual appraisal, trying to avoid actually going out to the property?
Seems pretty wacky to me.
Kevin McGrath
RE/MAX BRAVO
www.fredva.com
Licensed in the State of Virginia
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