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Appraisals?

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Real Estate Broker/Owner

 So, this week something new happened.  I am working as a buyer's agent on a property that went to contract a few weeks ago.  The mortgage company gave an incorrect phone number to the appraisor.  The appraisor instead of calling me called the listing agent, who it turns out she knows.  The listing agent then calls me and says that she will be glad to help me and let the appraisor into the house.

 In the old days before agency and mortgage fraud not a problem.  It didn't matter who opened the door for the appraisor because we were all working for the seller.  Things have changed or have they.  Banks now don't cherry pick the appraisors any longer.  I am not sure how appraisors get chosen but I believe it is more of random choice.  So when this appraisor called the listing agent who she knows is this a problem in this new age og agency.  Should the appraisor stay arms length.  Since it is the buyer's appraisal should be the buyer's agent be available for the appraisor?

This particular appraisor has worked in Westchester for many years and is a member of our local MLS.  She says "I am a member of the MLS so I can get access to the house myself"  Anybody have any thoughts about that? I have been taught to be available and always meet the apprasors.  Has this changed as well? 

 

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New Orleans Property Lady, LLC

Broker/Owner and REALTOR (r) 

New Orleans, LA 70125

504-908-2268 (C)            

 Licensed in the State of Louisiana, USA

New Orleans Property Lady 
           

  

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Copyright 2012, Miriam Bernstein, All Rights Reserved

Comments (2)

Suzanne Marriott
Keller Williams Arizona Realty - Anthem, AZ
Associate Broker, CLHMS, e-PRO

Tony used to meet appraisers at his listings to provide data supporting the contract price that otherwise may be overlooked.  One notable example of this was when a property was priced significantly lower than market due to the terminal illness of the seller and the desire of her and her family to get back to Washington (state) as quickly as possible.  In this case, helping the appraiser understand the reason for the low price saved them time looking for problems with the property.  We never get in their way - but it's helpful for them to able to consider all the relevant information to the contract price.

Mar 01, 2007 02:15 AM
Beth Bastian
Rosemont Financial Inc - Simi Valley, CA
Simi Valley Real Estate
I have the appraisal and the property inspection done at the same time.  That way the buyer can see the process, and I am there to answer any questions any of them would have.  
Mar 01, 2007 02:27 AM