As an appraiser I have a job to do! It appears as though many in the mortgage and real estate industries forget that my job is to bring the message whether it is good or bad (translate that into under value or at value or above). With the information that I provide a lending decision is made -- sometimes the answer is NO and rightly so.
Have you ever said: "IF the appraisal doesn't come in at this value then I can't make the deal work." ?
If you are given a value that is below that needed amount you are still using my work product to determine that this deal will not work. It is not my job to "make the deal work" and just because there is a seller and a buyer who agree on a price that does not mean that is the market value of the property. Some buyers are using their heart to make a decision not their common sense or maybe they just aren't that well informed..for instance, a California buyer who just sold a property for $800,000 and is buying a $250,000 property in Tennessee. To him it sounds like a steal but in reality given the local market it may not be worth that much.
Am I the one making the lending decision? NO, of course not....I am the one who is supposed to provide an honest opinion of market value and therefore just the messenger...please don't shoot!
Okay, by now you are probably thinking I must have had a bad day or maybe I received flak over an appraisal that didn't make value or maybe just that my panties are in a bunch...well, I actually just feel like venting...LOL...and hope that someone out there will understand next time the value wasn't there. This has been on my mind for a while now and thanks to ActiveRain I have a place to vent to.
Disclaimer: This is not directed toward any one person or group in particular....and no agents were harmed in the posting of this blog. No offense meant and I hope none was taken.
Alisa
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