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AMC Head's Up! Stay clear of Lincoln Appraisal in R.I. (AMC's)

by AC @, Sunday, December 04, 2016, 21:44
edited by AC, Friday, December 09, 2016, 09:09

The subject of this really is - how 1 single review appraiser - who is an AMC's 'darling' can bog down not only a seasoned real estate appraiser - but also consistently delay by many days a great many appraisals to their own client. This is just a head's up. If you are an appraiser and have a good amount of work with AMC's I am sure you can also tell similar stories about the AMC Review Appraiser 'from He-l'. I just have never ran into one before this. It can really, really sour one on a particular AMC as this did me.

This is just a 'head's up' to any appraiser who is considering doing any work for the Appraisal Management (AMC) company in Rhode Island known as Lincoln Appraisal, Lincoln Appraisal AMC, a/k/a Lincoln Appraisal and Settlement Services. Below are my personal opinions only - having worked for Lincoln Appraisal for 4 years.

I worked for Lincoln Appraisal for 4 years. In my 25 years as a licensed real estate appraiser who has worked for a dozen AMC's, Lincoln Appraisal has ended up as my very WORST AMC by far - hand's down - that I have done work for. Most of the others I still work for I have been with for 10-15 years. Nothing like this ever happened.

That is simply due ONLY to a single individual, who in my opinion is incompetent, ruthless & vindictive. It is Lincoln Appraisal's review appraiser whose name is Sandra Rose. A seasoned appraiser can quickly spot review appraiser's who have little to no experience doing appraisals 'in the field' just by the type of 'stupid' questions they constantly ask. Just because of all the wasted time I spent replying to this single Review Appraiser's (if she ever was an appraiser) questions -- in early Summer 2016 I began to accept over 50% less job offers from that AMC - because I knew it was far less time consuming and annoying, taking jobs from other AMC's.

Once during the spring of 2016 I had a question about an appraisal revision request by Lincoln Appraisal's Sandra Rose I needed answered - and I left about 12 messages on Ms Sandra Rose's recorder over a 3 day period. I couldn't budge/move this appraisal until she answered my question. This Sandra Rose never, ever returned my phone calls which could have cleared up this question within minutes had she done so. So next I called another review appraiser and asked if Sandra was on vacation. She told me no. She was looking at her now - sitting at her desk.

Next, I called Lincoln Appraisal's Chief Appraiser Enid Cohen to ask that she get Sandra Rose to call me back. Within an hour Sandra finally returned my call - after 3 days.

On another occasion Sandra Rose told me the 'client wants to know' (she always said the client wants to know -- when she just wants to waste your time...Hmmm) how I came up with the time adjustment. It was always 'the client wants to know' with her. Mind you, in 25 years not a single other review appraiser has asked that time adjustment question. But vindictive Sandra did. So I immediately put a perfectly good 'MATCHED PAIR' of a recent resale of the same property that resold between 12/2014 - 06/2016 in the Text Addendum. What does Sandra do next? To waste even more of my time she comes back and asks for even more proof - because she says I didn't use that 'matched pair resale' as one of the comparables.

This is what I am talking about - as Sandra being incompetent and lacking appraisal experience. I lost it then, and posted 'Sandra, if you have ever spent any time in the field as an appraiser - you would know just how infrequent real matched pairs pop up. This matched pair is of a recent resale that resold in the recent past. They do NOT get any better than that'. I also told her also, that "nothing could have been better than a recent resale of the same property for a time adjustment". But she insisted on additional proof for the time adjustment.

NEXT, I gave her more proof that that matched pair was correct - by giving her 'regression analysis' which showed the time adjustment should be about the same as the resale did. I finally told her -- take the appraisal 'as is' or reassign it. She took it - and then lodged a complaint about my 'unprofessionalism'.

That all takes an awful lot of extra time for an appraiser. Not only that, it holds up the appraisal from getting quickly to the Lender/Client. This happened nearly always when my appraisal fell in Sandra Rose's lap to review. BUT, strangely (not) it never happened with any other of Lincoln's review appraisers who all returned calls and even picked up their phone when called. BUT this is the sort of thing Lincoln Appraisal will throw at you -- because they stand behind this incompetent, vindictive, time wasting Sandra Rose - Lincoln Appraisals 'darling' (sort of like an old Good Old Boy).

SO JUST head's up. A good portion of your appraisals will land up in vindictive Sandra's lap if you work for them. If you do not cow tow to Sandra Rose's time consuming nonsense then beware of the consequences. My guess is that she is best likely to succeed Chief Appraiser Enid Cohen there. Just because she is that ruthless.

This is the sort of time consuming nonsense you will have to put up to if you work for Lincoln Appraisals. There are many more AMC's out there who do not waste your time, and disrespect real estate appraisers -- as Sandra Rose and Lincoln Appraisals do. Additionally, Lincoln will 'nickle and dime you to death'. Last spring they even initiated a charge to the appraiser just for uploading the reports.

They pay lousy low fees also. Much better with other AMC's.

Why am I posting this? It's a good business and selfish move on my part. Because when I throw out the name of this AMC, many of my competing (competition) appraiser's are just going to add it to their list and sign up with them. That would be wonderful for me, because they will get totally bogged down and frustrated working with 'vindictive/incompetent Sandra' - leaving me far more business. So go for it.

Glad I finally 'cut the cord' with that poorly run and inept AMC.

/s/ Steve @ http://MassAppraiser.com, http://MethuenAppraiser.com, http://LawrenceRealEstateAppraiser.com & http://HaverhillAppraiser.com

MY THOUGHT FOR TODAY:

I always remember:
Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well-preserved body; but rather to skid in sideways - Chardonnay in one hand - chocolate in the other - body thoroughly used up, totally worn out and screaming "WOO-HOO, what a ride!!"

Tags:
Sandra Rose, review appraiser Sandra Rose, Lincoln Appraisal, Lincoln Appraisal AMC, AMC, Lincoln Appraisal and Settlement Services, George Demopulus, Enid Cohen

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