""....It is the appraiser's job to do their best to get a value that is useful. Theirs is a service occupation, just as mine is. If they are out there hustling for business as most of them are, wanting me to order the appraisal from them instead of another appraiser, they should offer a reasonable level of service. I don't expect to be paid if I can't help the people with their situation. Sometimes I put in hundreds of dollars and dozens of hours of work and it all falls apart because of something beyond my control. Situations like this are part of being in business for yourself. I don't expect to get paid when I can't or don't help the people. Why does the appraiser?...."
"...Basically, what's wrong is they don't want to work. They want to be able to drive over and pop the customer for the bill and let the chips fall where they may. And if the house is really only worth $450,000, the house is only really only worth $450,000. But most of the time, if they worked a little bit, and maybe chose a different sale to compare to, they could justify the higher appraisal, but they don't want to be bothered..."
"...
The appraiser, understandably, wants to get paid for their work. So do I. All I ever ask is that they don't intentionally waste my client's money. If they can't get value, give me a chance to re-work the loan or find someone who can get value. In some situations on a sale, this allows me a chance to re-negotiate the price down so my client gets a better price on the house they want...""
#1 03-17-2007, 02:22 PM
Joyce Potts
Join Date: Feb 2005
City: Central Florida
Professional Status: Certified Residential Appraiser
State: Florida
Posts: 534
Re: what you mortgage guys think of your hard work
Ill tell ya how they get paid, by charging crazy high fees and getting the appraiser to cover them with an inflated appraisal. The big diiference is that a broker makes 2K plus on a closed loan and we make $300-500. Sad thing is that most lenders think this way.
