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JennZ
MY LIFE!!
Member since 8/05 25463 total posts
Name:
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???? about house apprasial.
Just found out our REA is meeting the guy from the bank for the appraisal. Is this something we should be there for?
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Posted 9/22/09 3:48 PM  |
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Prudential Douglas Elliman Real Estate
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: ???? about house apprasial.
Nope
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| Posted 9/22/09 4:00 PM |
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JennZ
MY LIFE!!
Member since 8/05 25463 total posts
Name:
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Re: ???? about house apprasial.
Ok, was thinking I missed that call or something. Good. the next time I go there, I want to move in.
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| Posted 9/22/09 4:03 PM |
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MaZz
* Lovin my baby girl!!! *
Member since 2/09 6243 total posts
Name:
Gina
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Re: ???? about house apprasial.
Can you be there? Is there any kind of info you can find out while there? I feel like this new place is like our reception hall... i just kept wanting to go back and see it hehe
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| Posted 9/22/09 4:19 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: ???? about house apprasial.
You aren't going to get much info from the appraiser.
They are simply there to do a bunch of measurements (measure out all the rooms, draw a floorplan, take pictures, etc)... look at the overall condition of the house... and then take that info back to their office and draw up a report with comps.
I don't plan on being at my appraisal. That is what my Reator is for. Let him earn his 4% commission. 
Message edited 9/22/2009 4:53:53 PM.
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| Posted 9/22/09 4:53 PM |
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Jessah
I love my dogs :)
Member since 2/08 1344 total posts
Name:
Jess
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Re: ???? about house apprasial.
Ours was this Sat and we weren't there! I dont know if that is the norm though :)
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| Posted 9/22/09 5:58 PM |
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Cpt2007
A new love!
Member since 1/08 5946 total posts
Name:
Liz
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Re: ???? about house apprasial.
nope, and in fact, REA's aren't supposed to be in touch with the appraiser. it could be seen as the REA trying to influence the appraiser so it is favorable to their client.
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| Posted 9/22/09 6:05 PM |
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MaZz
* Lovin my baby girl!!! *
Member since 2/09 6243 total posts
Name:
Gina
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Re: ???? about house apprasial.
Posted by Cpt2007
nope, and in fact, REA's aren't supposed to be in touch with the appraiser. it could be seen as the REA trying to influence the appraiser so it is favorable to their client.
oh wow... didnt know that... thanks!
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| Posted 9/22/09 6:46 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: ???? about house apprasial.
Posted by Cpt2007
nope, and in fact, REA's aren't supposed to be in touch with the appraiser. it could be seen as the REA trying to influence the appraiser so it is favorable to their client.
I disagree. REA are almost always our entry contacts when appraising purchases. They "shouldn't" be discussing value (though we always know the sales price anyway), but they have to be in touch to arrange access. There's always someone who could try to influence the appraiser, be it the REA, the homeowner (on a refi), the buyer, or the mortgage broker. HVCC (home valuation code of conduct) attempts to minimize the influence of power by eliminating contact between the appraiser and the mortgage broker, not with the REA.
Most of the time, the buyers are not at the appraisal, but sometimes they meet me there.
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| Posted 9/22/09 9:56 PM |
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PNP4E
LIF Zygote
Member since 10/07 18 total posts
Name:
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Re: ???? about house apprasial.
We just bought our house over the summer and we were told that we couldn't go to the appraisal (which was fine). The appointment was schedule by our REA and he went to let the appraiser into the house.
Message edited 9/23/2009 11:32:06 AM.
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| Posted 9/23/09 11:31 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: ???? about house apprasial.
It would be wise for the seller's RE to be present to present the appraiser with comps for houses that are in contract, but not titled yet.
The appraiser may or may not be able to use them. I have worked with appraisers before that were able to use in contract comps.
I guess if the appraiser has realtor access to MLS they can get this info themselves, but its always wise for the seller's RE to be there for this.
Maybe you can consider that "influencing". But regardless, its in the buyers AND sellers best interest to get the most accurate number on the appraisal because a low appraisal just creates problems on both sides of the table.
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| Posted 9/23/09 11:46 AM |
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Cpt2007
A new love!
Member since 1/08 5946 total posts
Name:
Liz
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Re: ???? about house apprasial.
perhaps it's just the law down here in the DC area then. Our credit union had a third party, unaffiliated appraiser come out to look at our house. Our REA was not, nor were we allowed to have any contact with the appraiser. The appraiser worked with the seller directly to gain access to the property, and we didn't even know who the appraiser was until the report came in.
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| Posted 9/23/09 12:23 PM |
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