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OMendoza
5 Posts |
 Posted - 05/13/2008 : 3:47:57 PM
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| Just curious what type of rebuttals everyone uses when a client doesnt want to pay for an appraisal..this should be interesting. |
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nowbroker
1220 Posts |
Posted - 05/13/2008 : 4:03:36 PM
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Quote them the golden rule:
"Those with the gold make the rules" |
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aspiring1
1274 Posts |
Posted - 05/13/2008 : 4:07:35 PM
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quote:
Originally posted by OMendoza
Just curious what type of rebuttals everyone uses when a client doesnt want to pay for an appraisal..this should be interesting.
"So Mr/Ms...etc; are you aware that we cannot proceed with your loan without
an appraisal?"
Are you getting objections related to the ability to pay for the appraisal? Or just not wanting to pay regardless of if money is an issue? |
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HollywoodLO
261 Posts |
Posted - 05/13/2008 : 4:14:15 PM
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"You want to save $300 a month, right?"
Yes...
"Ever heard 'You gotta spend money to make money?'" |
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mschwader
91 Posts |
Posted - 05/13/2008 : 4:57:45 PM
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| I usually just explain to the customer that the appraiser is a third party service provider meaning they are not employed by the bank or myself so they collect there fee at the door. |
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HollywoodLO
261 Posts |
Posted - 05/13/2008 : 5:05:09 PM
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| "their" |
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benjamin
1815 Posts |
Posted - 05/13/2008 : 5:47:18 PM
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| "Lenders like Rock Financial, CW, charge an application fee, regardless if they can do your loan. These fees are about $500. We think we can get your loan done based upon the information you have told us. We need an appraisal, the appraiser would like his/her money upfront. If we cannot get your loan done, or if another lender can get you a better deal, we will ask appraiser to recert to your lender. The most important factor in our area is value,especially being in a declining market.We must know what your house is worth. |
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jvanpetten
2402 Posts |
Posted - 05/13/2008 : 5:55:19 PM
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| I have closed a couple loans (refi's) where I know they don't have the money (I have the bank statements) and just required 1/2 at the door and put the rest in the loan. It all depends on the situation. |
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toddblue
2179 Posts |
Posted - 05/13/2008 : 5:55:44 PM
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| Mr. and Mrs. Customer, If you can't pay for an appraisal, what makes me think you can pay for a house? |
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cashflow08
25 Posts |
Posted - 05/13/2008 : 6:01:54 PM
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| i tell them that you'll end up paying more if the appraisal gets paid at closing... but i really like the "golden rule" and the "if you cant afford an appraisal fee...." lines |
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GSE_
422 Posts |
Posted - 05/13/2008 : 6:07:24 PM
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"Just curious what type of rebuttals everyone uses when a client doesnt want to pay for an appraisal..this should be interesting."
Dear Mr. & Mrs. Client, You and I have similar problems.....I do not like paying for sex, but much like your problem with paying for the appraisal, no funds upfront means no closing the deal in the end.
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