Valued analyist wanted yea right/Continued

By
Real Estate Appraiser with Real Estate Valuation Group

So, I recently blogged about a client that tried to pressure me to change my analysis of market conditions in my appraisal to better suite his loan (i didn't do it).  Well the newest developments are that the appraisal fee is now over due.  I contacted the title company that was noted on the appraisal order to see what the deal was and when I would get paid.  The title company reported the check had been mailed out weeks ago to *******  appraisal company (this was not my company).   Well this broker went out and got another appraisal from another company that obviously did not check the declineing market box.  The title company paid out to that appraiser on that invoice and I am left holding the bag.  Why, because I did a great job and reported the actual market conditions.  This is why good appraisers are pissed and why there are soooooooo many appraisers in the pocket of lenders, brokers and realtors.  So again I say is there anyone out there that needs an accurate appraisal?  If so please contact me because I could really use the business.

Comments (3)

Eric Reid
Renaissance Realty Group of Keller Williams Atlanta Partners - Lawrenceville, GA

I don't see how they could not pay.. they ordered it they should pay it ..

Jun 30, 2008 07:20 AM
Cameron Novak
The Homefinding Center - Corona, CA
Featured Corona Real Estate Agent Team

I agree with Eric... you should demand your $$.

I am continually dealing with banks which want incomplete information and then want to complain that my valuation doesn't fit within the comps provided.

Example:  sold comps $350K-$380K, but there are 10 like properties currently available UNDER $320... The home does NOT have a "market value" of between $350-380K!!!

They ask you to play by their rules, and then question your results.... what else should I expect huh?

Cameron

Jun 30, 2008 07:31 AM
Fred Chamberlin
Guild Mortgage Co - Oak Harbor WA - Oak Harbor, WA
Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant

The only thing I can say, from the lender's point is that the appraisal should be paid, no matter what. If you aren't paid, contact the state. I have had appraisals that I disagreed with the value, but the job of valuation is the appraiser's, not mine. I suspect it will be a fairly short time until everyone has to order appraisals through a service, like the national banks do now.

Keep the faith,

Jul 09, 2008 05:59 AM