U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 09-15-2009, 10:24 AM
 
Location: Virginia Beach, VA
2,124 posts, read 5,755,944 times
Reputation: 755

Advertisements

mattandme: have your RE agent contact the buyers agent and ask that it has been returned to the mortg and company and everything is good to go. You may not be privy to the numbers, but you are privy to the financing approval!! and it is prudent for the agents to stay involved. In fact, if your agent met the appraiser (like a good selling agent usually does) with good comps for the appraiser to look it, she/he may already know the appraisers phone number or email and can call themselves and just check on the STATUS (not the numbers, unless there is a problem).

Shelly
Reply With Quote Quick reply to this message

 
Old 09-15-2009, 09:39 PM
 
Location: OK
2,523 posts, read 4,218,893 times
Reputation: 1485
Quote:
Originally Posted by shellytc View Post
mattandme: have your RE agent contact the buyers agent and ask that it has been returned to the mortg and company and everything is good to go. You may not be privy to the numbers, but you are privy to the financing approval!! and it is prudent for the agents to stay involved. In fact, if your agent met the appraiser (like a good selling agent usually does) with good comps for the appraiser to look it, she/he may already know the appraisers phone number or email and can call themselves and just check on the STATUS (not the numbers, unless there is a problem).

Shelly
As the Agent is not the Appraiser's client, the Appraiser cannot, by law, discuss the appraisal with anybody but his/her client and that includes the status.
Reply With Quote Quick reply to this message
 
Old 09-15-2009, 09:40 PM
 
Location: OK
2,523 posts, read 4,218,893 times
Reputation: 1485
Quote:
Originally Posted by ETex2 View Post
Asking how long it takes to hear back on an appraisal, is like asking "how long will it take the doctor to see me when I visit his office?"

That depends on patient load (appraisal load); difficulty of treating patients in his office (difficulty of appraising properties before yours), etc.. There is no set answer.
Nice analogy, S!
Reply With Quote Quick reply to this message
 
Old 09-15-2009, 10:16 PM
 
Location: Virginia Beach, VA
2,124 posts, read 5,755,944 times
Reputation: 755
wow annemieke roell, I was unaware the appraiser wasn't allowed to even discuss status. the appraiser calls me when i am the listing agent to set the app't to go and see the property, and I meet him/her at the property with comps, and then usually tell me they will call me if there is a problem (and have called me)....

shelly
Reply With Quote Quick reply to this message
 
Old 09-16-2009, 12:49 PM
 
Location: The Big D
14,874 posts, read 23,874,869 times
Reputation: 5787
Quote:
Originally Posted by Annemieke Roell View Post
The turn around time of an appraisal depends on many things like how busy the appraiser is, the complexity of the property, the availability of comparable sales and the ease of data verification, just to name a few.
Quote:
Originally Posted by Goodpasture View Post
An appraisal takes time. A good one takes more than a sloppy one. With many lenders using AMC's you can count on a week or two longer than it would have this time last year.

I doubt you will be "kept in the loop" about it though. The lender orders it for their benefit, the buyer gets a copy because they pay for it, the seller has no "right to know" anything about it.


How long does it take to get the appraisal back? Mine just took a little over 2 weeks. Got in yesterday. URGH! But it came back good

We are doing a refi after we just finished a construction project so we were the ones paying for the appraisal. I've never had one take this long EVER! Just glad it came back with the "right" numbers
Reply With Quote Quick reply to this message
 
Old 09-16-2009, 12:55 PM
 
Location: OK
2,523 posts, read 4,218,893 times
Reputation: 1485
Quote:
Originally Posted by shellytc View Post
wow annemieke roell, I was unaware the appraiser wasn't allowed to even discuss status. the appraiser calls me when i am the listing agent to set the app't to go and see the property, and I meet him/her at the property with comps, and then usually tell me they will call me if there is a problem (and have called me)....

shelly
Hey, I don't make the law ... just follow it.

When I call a realtor to set an appointment that is one thing. But discussing status is an entirely different one. It is a stupid law, but a law never the less.

Last edited by Annemieke Roell; 09-16-2009 at 12:59 PM.. Reason: Added something
Reply With Quote Quick reply to this message
 
Old 09-16-2009, 02:13 PM
 
Location: Fuquay Varina
1,749 posts, read 2,930,568 times
Reputation: 2320
I don't see how revealing the fact that the appraisel is completed or not should be against the law, that sounds crazy! i fully understand not revealing the numbers, but to simply say, the Appraisel is complete and turned into the buyer/seller/whoever is paying for it should not be an issue at all.
Reply With Quote Quick reply to this message
 
Old 09-16-2009, 02:50 PM
 
2,861 posts, read 4,013,962 times
Reputation: 2801
Quote:
Originally Posted by Annemieke Roell View Post
Nice analogy, S!
Thaks, D!
Reply With Quote Quick reply to this message
 
Old 09-16-2009, 03:22 PM
 
Location: OK
2,523 posts, read 4,218,893 times
Reputation: 1485
Quote:
Originally Posted by SVTLightning View Post
I don't see how revealing the fact that the appraisel is completed or not should be against the law, that sounds crazy! i fully understand not revealing the numbers, but to simply say, the Appraisel is complete and turned into the buyer/seller/whoever is paying for it should not be an issue at all.
It is indeed a stupid law. I agree.

However, we can only discuss the assignment with the client, and the client is the person who orders the appraisal, regardless who pays for it.

So ..... if the appraisal is done for lending purposes, the loan officer orders the appraisal and the borrower pays for it. And the only person this can be discussed with is the loan officer who is the client.
Reply With Quote Quick reply to this message
 
Old 09-16-2009, 05:20 PM
 
Location: Barrington
20,031 posts, read 14,400,856 times
Reputation: 6205
Quote:
Originally Posted by shellytc View Post
wow annemieke roell, I was unaware the appraiser wasn't allowed to even discuss status. the appraiser calls me when i am the listing agent to set the app't to go and see the property, and I meet him/her at the property with comps, and then usually tell me they will call me if there is a problem (and have called me)....

shelly
Some appraisers have lock box access and some do not.

Some listing agents meet the appraiser and some do not.

Some appraisers take the comps and some do not.

We are cautioned, in my area, to respect the arm's length nature of the appraisal..i.e. do not call the appraiser and do not attempt to influence the outcome. There are established channels for review.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top