The other day on the Inland CA Appraisers Forum, Barb Tores, ASA got fired up after a series of posts on re-addressing appraisals and dealing with manufactured homes. At the end of the day she offered this sage advice:
Today everything in the lending world is way out of whack - because there's rarely been anyone who says, "NO!" Our clients need to hear a great, resounding ROAR from us, every single day:
NOOOOOOO!"
NO! I cannot give you a value in 10 minutes or less and I won't even try!
NO! I will not change my appraisal for your screwy reason, to hide what the collateral really is!
NO! I will not do your underwriting job for you!
NO! I will not do 6 more appraisals of the same property so you can shop this around, and waste the loan applicant's time and money!
NO! I will not reduce the value because your reviewer is under-trained and inexperienced!
NO! I will not engage in a spitting contest with your Reviewer or your underwriter - He/She isn't experienced enough to understand this property, this appraisal!
NO! I will not tell you what the "predominant value" in the neighborhood is - when I already checked that there is none, and that's a critical characteristic of the area.
NO! I will not use your comps. NO! I will not add more comps. And NO! Not for free! I certified that the comparables in my report are the best; to include your less-than comps would be misleading! NOOOOOO!
NO! I will not write a letter for free explaining something that is already in my report - just READ IT!
NO! I will not be motivated by your statement, "Well, Other appraisers do it!" It'll just tick me off! NO!!
NO! I will not sit still when you besmirch my name, telling the loan applicant, "There is something wrong with the appraisal," when there is really something wrong with the collateral.
NO! I will not write a free letter to explain why your records show a dash in the address and mine don't!
NO! I won't reduce my fee because your client is poor! Did you reduce YOURS? Did the listing agent? Selling agent? Escrow officer? Lender? NO!!
NO! NO! NO! Learn your own business - don't let me know more about it that YOU do!
And no, you DON"T know more about my business than I do.
Author: Barb Torres, ASA - Real Property, Accredited Senior Appraiser, American Society of Appraisers, California State Certified General Real Estate Appraiser - Phone: (760)341-8541
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