They want to know if the property will appraise for $212,000. They have a list of 5 recent sales from the area – none are $212 but some are close – within a few thousand dollars. If I will just promise to appraise for at least $212,000 they will send me an order and I’ll get paid out of closing. If for any reason the loan does not close, the loan officer will pay me “out of his own pocket”. What could possibly go wrong here? If only she had suggested they were going to be doing a lot of business in this area and were looking for a good appraiser they could send all this prime business to.
She (Sammy is female) plans get quotes from 5 local appraisers – I am the third one she called. She says “we heard that in Colorado the appraiser is required to tell us if they can make the value or not”. She didn’t say where she heard that from.
The property is: 15955 E Geddes Dr, Aurora, CO 80016. Maybe they have the address wrong.
Sammy Aljiboori, Gateway Mortgage in Oklahoma, 918-392-0100.