Appraisal Articles

Can you believe it?

My valentine wish for you is that you don’t have to deal with an AMC asking you to reduce your fees… I know we hit on this topic in previous months but it steams me up when companies like AMCs ask us to cut our rates. So I turn around and ask them to cut their fees or better yet charge no fees! So today this particular company wanted to add $100 to our costs for their “services” and by charging my normal rate that would cut into their portion.

Can you believe it?

Tough noogies, I say. I hope that NCCOB or some government sponsored overseeing agency finally gets control over these uncontrolled, unlicensed, rampant over-chargers. They fall through the cracks in the laws by placing all the responsibility on the appraisers performing the work, and then they aren’t governed by the NCCOB because they aren’t lenders. I ask you, is anyone watching the middleman?

Am I wrong about this, and horribly misinformed? I don’t think so, but let me know if someone out there sees an upside to AMCs making money off our hard work. I sure can’t see it.

This particular company that called today also then demanded 24 hour turnarounds after inspection, interior photos, and a REO repair addendum. All for the reduced price of “x”. So I told them “Kaching, Kaching, Kaching…” I charge more for all those things, not less. Who is doing these appraisals for less?… I certainly don’t want to take on all the responsibility of that much work, with repairs, multiple values on the REO addendum, and try and get it back in a day for “x”. You and I both know those are the appraisals that never go away. They need multiple addendums and conferences with underwriting, you will be required to stand on your left leg while rubbing your stomach, just to get it to go away…

So let’s go back and read Bert’s AMC article from a few months ago, and all of us try and toe the line and when the phone rings and the AMCs call with their ridiculous requests, and then they will hear from all of us, “NO, NO, NO, and oh yeah NO!...

Amanda Rivera