u/Single_Farm_6063

Why, oh Why cant homeowners understand that if you are taking out a home equity line of credit, the appraisal has to be be made AS IS?

How many times I have asked the homeowners while setting up the inspection if they are in the midst of renovations, they say no, and I get there to rooms down to studs, no functional kitchen, etc.

Just left one today that I was suspicious of, as they just bought the home 9 months ago and it was in need of serious renovations and repair. 200 year old home with roof leaks, dated kitchen and baths. I specifically asked her, is the house undergoing renovation? No she said, we have completed them.

Get there, there is no siding, a rear patio is dug up, the interior 2nd floor has water damage, peeling wallpaper, warped wood flooring, no access to basement due to boarded up door, 2nd floor bath torn out. But, there is a new mid grade kitchen and updated bath on the first floor. WTF. This is in an estate area of million dollar homes and farms dating from the 1700's. Going to be fun working up condition adjustments to my comparables.

Was requested to do a 2055 exterior on a house built in 2019. It was purchased "to be built", therefore there are no photos or information regarding the interior. Discrepancies in tax records (realist and county) regarding bedroom, bath counts. Both show a finished basement, but I have no idea what that entails. Is it all marble and gold, or is it basic builder finishes? Lending is asking if interior photos provided by the owner would be acceptable. Would you take this on?

Why, oh Why do people apply for refinances or home equities and then take off on 2 week vacations? I have had three orders put on hold THIS WEEK, due to no access.

Just got an email from a MAJOR client, credit union. They are beginning to test the 3.6 in a couple of weeks and have asked that we prepare a legacy form AND the 3.6 for the same order. WTF? Have any of you been asked this? How do I respond? We use ACI and I am pretty sure I wont be able to import the 3.6 info into a legacy form. AARGH.

Any guesses whom this "bid request" came from??

https://preview.redd.it/ngh0cnpq0feh1.jpg?width=527&format=pjpg&auto=webp&s=8d110919f5503a8f320975f372776af0932cf0ba

Appraiser here. In the past 2 weeks I have had three sales that I could not support the sale price. Two of the contracts had a clause that the purchasers would make up the appraisal shortfall in cash. Clearly they knew they were paying too much, but didnt care. The third one was a SF townhome listed for $439,999 and was selling for $499,900. 2BR, 1.5 Baths, 1800 sf, nothing special about it. The highest 2 bedroom sale in the complex in the past year was $445,000 with new kitchen. I could only support a value of $435,000 with the sales available. The listing agent calls me basically telling me I am incompetent. I asked her, you listed it for $439,999, I assume you had pulled comps to arrive at that listing price? "of course I did" she spits out. So I ask her, well, how do you expect me to support the additional 50 grand?

Do you caution your buyers/sellers on what could happen if they bid more for a property than can be supported in in appraisal? Clearly the first two agents did, but the third one did not and it suddenly became my problem!

Anybody here using ACI workbench? I cannot figure out why, after setting up my workbench ID, the only way to access it is by going back to the help button, choosing self help, going to the ACI How to setup your ACI ID/Workbench page, clicking on the ACI Sky Workbench link. When I am in ACI and try to open the workbench icon, it takes me to a first american log in and says my ID isnt valid? WTF

"Please comment if the adverse conditions noted will affect the value of the subject property in any way" Uh, the only "adverse condition" is the subject is on a busy road, this was adjusted for in the grid to the comps that are not on busy roads. How the hell should I answer this that isnt too snarky, but snarky enough?

Message:

1004 Conventional Purchase

Purchase Price: $630,000

***Stat Driven Client***
Please note, our target fee for this assignment is $375 and a due date of 6/5 latest. Please let us know if you can assist. If you are unable to meet the target fee and turn time, please provide your best quote. Thank you for your help!

Seriously? So insulting and just ridiculous.

The job I was bitching about yesterday finally got sent over to the lender this morning. One of my comps had a large ($72,000) seller concession noted on the listing. I had contacted all three agents (LA, Co LA and BA, days ago to ask about it. Per usual, never heard back. So I put a comment in the appraisal that no info was provided to me regarding this, figuring there was something that came up in inspections. Anyhow, the co LA just calls me and gave excuse after excuse before telling me that was NOT a concession, but the amount of the commission paid by the seller. WTF. Apparently, agents selling multi-million dollar estates are just as shitty as ones selling your average $300,000 sf home.

Nightmare property with no comps for a home equity. It seems all I am getting lately. 3000+ sf house with a semi attached ADU, inground pool, heated and cooled office above an outbuilding, 6+ acres in a rural area of farms, or multi million dollar estates. built in 2016, ADU added later. Anything similar to this are "old money" estates of 20-50+ acres, built in the early 1800's with horses or extensive manicured grounds worth in the 10's of millions. This one is assessed at 1.2 mil. UGH.

Can someone please decipher the following comment in a listing? "Solar Panels $228 a month for 20 years (owned)." I interpret this to mean there is a large loan on them, therefore they are not "owned" and I should not assign them any value, correct?

I am beginning to suspect a few of my core clients are using alot of appraisal waivers. 90% of the orders I have gotten in the past month from lenders (not AMCs) are unusual properties. Log homes on 30+ acres, "carriage house" style where the whole bottom floor is a 3 or 4 car garage with a 1 bed, 1 bath living unit on the second floor; Yurt type things!; and today, an 1850's village colonial that looked easy peasy, until i inspected and found out the only kitchen is below grade in the basement. WTF. Anyone else getting a majority of these stinkers?