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Apr 13, 2021
7:55
:46
am
SweetBabyG
Starter
I would argue that title companies help so I can buy a home without a realtor
They take care of lots of paperwork and research on the property that I wouldn't have any idea how to do.
This message has been modified
Originally posted on Apr 13, 2021 at 7:55:46am
Message modified by SweetBabyG on Apr 13, 2021 at 7:57:09am
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SweetBabyG
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SweetBabyG
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Messages
Author
Time
Appraisers are worse than Realtors.
4th and Niner
4/13/21 7:39am
I don't disagree with the last part, but that's not the appraisers' fault. They have a legitimate job to do for the most
supertux
4/13/21 7:41am
I understand appraisals protect against fraud
4th and Niner
4/13/21 7:45am
I believe most appraisers would agree with this.
Wyomingite
4/13/21 8:00am
My realtor said that if the appraised value is less than but close to the offer
Powerbait DPM
4/13/21 8:47am
The contract should always be considered.
Wyomingite
4/13/21 9:21am
It’s all of it.. title companies too.. All the third party people who take their
cougfanz
4/13/21 7:43am
This. So much about mortgage and property transactions is outdated and extracts value from the deal without contributing
Tokolosh
4/13/21 7:48am
Think of it as a VAT for every step it takes through the process 🙂
panacablue
4/13/21 8:10am
Better.com is trying to fix all this. Anyone here have experience with them that
Zooropa
4/13/21 8:30am
Better.com is just a normal mortgage lender, except they own the title,
DescendentCoug
4/13/21 1:10pm
I would argue that title companies help so I can buy a home without a realtor
SweetBabyG
4/13/21 7:55am
On a purchase I agree, on a refinance requiring a new title policy is ridiculous
johnnybyu
4/13/21 9:42am
Totally understand the frustration with that but
Venom
4/13/21 9:55am
Agreed it is still required but can be done quickly so fees should be much less
johnnybyu
4/13/21 10:03am
You can't really blame the title companies--their main function is to examine
mncougar
4/13/21 8:32am
Good point..
cougfanz
4/13/21 8:42am
A home is worth what a person is willing to pay. So long as the offer is within
Corn Pop
4/13/21 7:46am
Not even close to true in a hot market. Appraisals will always lag market price.
4th and Niner
4/13/21 7:48am
But a "hot market" usually pops and resettles. So again, the entire point of an
Corn Pop
4/13/21 7:55am
Sorry but you have no idea what you’re talking about.
Ned Schneebly
4/13/21 8:12am
Interesting. Can you expound? My own experience matches 4th and niner
cougsareforreal
4/13/21 5:49pm
willing buyer– willing seller means nothing without appraiser if you need a loan
grandpacoug
4/13/21 9:05am
If a loan is needed, then the bank is officially the buyer, and that buyer isn't
Corn Pop
4/13/21 9:41am
In the market today you have to pay over the appraised value
creameryon9th
4/13/21 7:47am
In this market a few weeks can make a substantial difference
cougarfann888
4/13/21 8:08am
I genuinely hate appraisers.
DKN
4/13/21 7:49am
RE: I genuinely hate appraisers.
ICBlue
4/13/21 9:57pm
Tough to get good comps w/ so many sold w/o an MLS listing. At least in Utah, those aren’t reported so appraisers
Soupie
4/13/21 7:55am
Understandable, but wrong.
Wyomingite
4/13/21 8:06am
Bingo. We have a winner.
Tripod
4/13/21 8:07am
Not to mention the FNMA requirements
Ned Schneebly
4/13/21 8:16am
To become an appraiser, you must be trained by one. There is a reason they are
panacablue
4/13/21 8:09am
Not quite, but a graying profession for sure.
Wyomingite
4/13/21 8:12am
A little TIC but my wife looked into it and couldn't find any mentors.
panacablue
4/13/21 8:15am
Oh yeah. I was trained by family and am only training family.
Wyomingite
4/13/21 8:37am
It’s a legitimate issue. The average age is high 50’s.
Ned Schneebly
4/13/21 8:22am
Oh I get it. I totally agree. But how do you incentivize it for licensed guys?
Wyomingite
4/13/21 8:39am
Yup! That’s the conundrum. I totally understand it, but
Ned Schneebly
4/13/21 8:49am
Yeah, I'm not sure what the answer is, either.
Wyomingite
4/13/21 9:29am
Why is the answer not just a simple computer program that does some data modeling to find a value range based on comps
Mike Honcho
4/13/21 9:40am
That has been proposed. Its called an AVM.
Wyomingite
4/13/21 10:03am
How are competitive neighborhoods picked by an appraiser? Not sure how emotion plays into an objective valuation
Mike Honcho
4/13/21 10:44am
You mean like when an appraiser inspects a home?
Wyomingite
4/13/21 11:09am
I mean like when a home inspector inspects the home
Mike Honcho
4/13/21 11:11am
Ok. You have your opinion why that works (it won’t). I’ll have mine.
Wyomingite
4/13/21 12:38pm
My wife is an appraisal trainee, we thought it would be a good option since she
Venom
4/13/21 9:59am
Appraisers "gave" us a bargaining chip to negotiate down on the price of one....
IAmACougarManSir....
4/13/21 8:31am
Don’t get me wrong, appraisers can be total tools and are not equally competent.
Ned Schneebly
4/13/21 8:44am
Been saying this for years. They don't do Jack and manipulate everything.
MrClark
4/13/21 9:06am
Clearly you have an informed and well reasoned opinion.
Wyomingite
4/13/21 9:23am
Thank you. Very few pick up on that with little knowledge.
MrClark
4/13/21 10:56am
I’m a skilled observer
Wyomingite
4/13/21 12:39pm
From my POV, the appraiser stole $9000 from me the last time I sold a house.
Florwood
4/13/21 9:37am
Wow! They took that $9,000 and gave it to the appraiser?
Wyomingite
4/13/21 10:05am
It felt like it. It certainly cost me 9k.
Florwood
4/13/21 12:14pm
I can understand your frustration. Doesn’t make it thievery.
Wyomingite
4/13/21 12:40pm
What was the price if you don't mind me asking and was it recently? Seems like
palangi
4/13/21 2:45pm
3 years ago, sale price was 319k, appraisal 310k.
Florwood
4/14/21 9:32am
See that's bogus, rising market and a willing buyer comes in at the list price
palangi
4/14/21 10:13am
My favorite appraiser. "How much do you need it to come in at? Also, do you
O Gaucho
4/13/21 9:44am
Again they are trying to justify the purchase price not determine market value.
johnnybyu
4/13/21 9:48am
Appraisers don't represent the buyer or the seller
ICBlue
4/13/21 10:11pm
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