How do lenders deal with houses with un-permitted additions

[Anonymous]

[quote=HLS]This will ruin the careers and incomes of honest appraisers. If an appraiser has been in business for 10-20 years and has dozens of banks or brokers sending them business, that stops completely on May 1st…[/quote]

I’m don’t see how this ruins the careers of the honest appraisers. At the peak of the frenzy, the dishonest appraisers were getting the most referrals, as their willingness to “work with” banks and brokers was what made them more popular.

The real estate professionals who were honest were the ones losing out in the bubble — their ethics prevented them from participating in the massive number of illegitimate transactions that ultimately did not benefit their clients.

If an appraiser has “dozens of of banks or brokers sending them business,” does that mean they are better at appraisals, or better at cronyism? Appraisals should be a commodity — if some are “better” than others, then something is not right.

I don’t see any reason this legislation will impact the total demand for appraisals, so why would the business go away?

[drboom]

[quote=pri_dk]Appraisals should be a commodity — if some are “better” than others, then something is not right.
[/quote]

{ { { Applause } } }

[drboom]

[quote=pri_dk]Appraisals should be a commodity — if some are “better” than others, then something is not right.
[/quote]

{ { { Applause } } }

[drboom]

[quote=pri_dk]Appraisals should be a commodity — if some are “better” than others, then something is not right.
[/quote]

{ { { Applause } } }

[drboom]

[quote=pri_dk]Appraisals should be a commodity — if some are “better” than others, then something is not right.
[/quote]

{ { { Applause } } }

[drboom]

[quote=pri_dk]Appraisals should be a commodity — if some are “better” than others, then something is not right.
[/quote]

{ { { Applause } } }

[Eugene]

[quote=gn]
esmith, thanks for sharing your experience. Are you concerned that when you sell that house, it’s possible that an appraiser/inspector might bring the issue up & you might have to undo the additions before you can sell ?
[/quote]

Like I said, I don’t know which bathrooms were added, so I wouldn’t know what to undo … if I try to sell and find a buyer, and this buyer wants me to bring the house in accordance with tax rolls, I might be willing to demolish 1.5 bathrooms of his choice.

I checked with the county and they told me that they don’t keep building plans for so long. (The house was built in 88)

[Eugene]

[quote=gn]
esmith, thanks for sharing your experience. Are you concerned that when you sell that house, it’s possible that an appraiser/inspector might bring the issue up & you might have to undo the additions before you can sell ?
[/quote]

Like I said, I don’t know which bathrooms were added, so I wouldn’t know what to undo … if I try to sell and find a buyer, and this buyer wants me to bring the house in accordance with tax rolls, I might be willing to demolish 1.5 bathrooms of his choice.

I checked with the county and they told me that they don’t keep building plans for so long. (The house was built in 88)

[Eugene]

[quote=gn]
esmith, thanks for sharing your experience. Are you concerned that when you sell that house, it’s possible that an appraiser/inspector might bring the issue up & you might have to undo the additions before you can sell ?
[/quote]

Like I said, I don’t know which bathrooms were added, so I wouldn’t know what to undo … if I try to sell and find a buyer, and this buyer wants me to bring the house in accordance with tax rolls, I might be willing to demolish 1.5 bathrooms of his choice.

I checked with the county and they told me that they don’t keep building plans for so long. (The house was built in 88)

[Eugene]

[quote=gn]
esmith, thanks for sharing your experience. Are you concerned that when you sell that house, it’s possible that an appraiser/inspector might bring the issue up & you might have to undo the additions before you can sell ?
[/quote]

Like I said, I don’t know which bathrooms were added, so I wouldn’t know what to undo … if I try to sell and find a buyer, and this buyer wants me to bring the house in accordance with tax rolls, I might be willing to demolish 1.5 bathrooms of his choice.

I checked with the county and they told me that they don’t keep building plans for so long. (The house was built in 88)

[Eugene]

[quote=gn]
esmith, thanks for sharing your experience. Are you concerned that when you sell that house, it’s possible that an appraiser/inspector might bring the issue up & you might have to undo the additions before you can sell ?
[/quote]

Like I said, I don’t know which bathrooms were added, so I wouldn’t know what to undo … if I try to sell and find a buyer, and this buyer wants me to bring the house in accordance with tax rolls, I might be willing to demolish 1.5 bathrooms of his choice.

I checked with the county and they told me that they don’t keep building plans for so long. (The house was built in 88)

[UCGal]

Continuing the hijack on the appraisal rules…

Washington state has had this rule for a while.

The appraiser she got, was coincidentally, the “preferred” one of her broker… but that was luck. He wasn’t out of business, just worked as assigned by the system, rather than for specific banks/brokers/realtors.

[UCGal]

Continuing the hijack on the appraisal rules…

Washington state has had this rule for a while.

The appraiser she got, was coincidentally, the “preferred” one of her broker… but that was luck. He wasn’t out of business, just worked as assigned by the system, rather than for specific banks/brokers/realtors.

[UCGal]

Continuing the hijack on the appraisal rules…

Washington state has had this rule for a while.

The appraiser she got, was coincidentally, the “preferred” one of her broker… but that was luck. He wasn’t out of business, just worked as assigned by the system, rather than for specific banks/brokers/realtors.

[UCGal]

Continuing the hijack on the appraisal rules…

Washington state has had this rule for a while.

The appraiser she got, was coincidentally, the “preferred” one of her broker… but that was luck. He wasn’t out of business, just worked as assigned by the system, rather than for specific banks/brokers/realtors.

[Author]

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