Beware of Evergreen Management, Inc. of Bedford, New Hampshire
New Hampshire and Massachusetts real estate appraisers need to be aware of Evergreen property management (Evergreen Management, Inc.), located in Bedford, New Hampshire. In my opinion they may have hatched a scheme (my opinion) to profit off their clients, by selling their clients (condo associations) information via an internet based outfit. On Evergreen's website they wrote: "All orders will be processed within 10 DAYS". Of course I cannot be 100% certain that Evergreen is making a profit on this. That is something their clients (Condo
Associations) should be asking Evergreen. But right off the bat, Evergreen has seen to it that a bank appraisal in all condo projects they manage will be delayed by as much as 10 days - no matter what. Another reason I suspect it is a money making scheme to sell their clients (Condo Associations) info is the obvious. EVERGREEN could have easily placed these documents needed by appraisers and brokers - for their closings - on their website as a free download. It's as simple as making them into .PDF files.
In 23 years as a real estate appraiser I have never had a run in with a property management company other than Evergreen Management, Inc. where I could not quickly get the 1 piece of information (a single number) I need to do condominium appraisals for refinancing or for a condo sale. And that number which is asked on page 1 of the 1073 Form is just 'how many units in the condo complex are owner-occupied'.
Property management companies usually just put that on a list along with how many units are in the condo complex - and give it to the secretary who answers the phone. All other info (except if the Condo Association is in any litigation) needed by the appraiser is usually available to them in the Master Deed which they review.
On 8 May 2014, I was working on an appraisal for a sale of a condominium managed by Evergreen Management, Inc. of Bedford, New Hampshire. The complex this pending sale was in is Brookside at Andover Condominium, in Andover, Massachusetts. Brookside is managed by Evergreen property management. It used to be managed by Great Northern Management Company - also of New Hampshire.
After my making 3 phone calls and sending 1 email requesting to know how many units were owner-occupied in Brookside Condominium, Evergreen's property manager Shannon finally returned my call very late on the 2nd day. She refused to give me that information, which is needed in order to submit this appraisal to the lender; thus effectively holding up this sale. Instead, I was told by Shannon at Evergreen that I could go to a site and pay to download a document with that info. When I told her no other property management company holds up a loan or sale by not quickly giving that single 'owner-occupied' piece of information to the appraiser - she didn't seem to care. She also didn't care when I told her I could not submit the appraisal for this sale without knowing how many units at Brookside Condominium in Andover were owner-occupied. She continued to insisted that I pay for that information.
As fate would have it, earlier that same day I was working on a condo refi appraisal in a project managed by Great Northern Management Company (who used to manage the Brookside Condominiums). I called Great Northern and asked how many units were owner-occupied.
Their secretary gave me that number within seconds. I also told that to Evergreen's property manager Shannon. When I told this all to the selling broker for this sale, she told me she has never had a good experience with Evergreen Management either - and that she thought the document with the single number I needed, which Evergreen was trying to sell me would cost between $25 and $35.
I had tried to explain to property manager Shannon of Evergreen that I am not making $2000 - $6000 on this sale like a broker is. But I am only making $275 in this case, and have no way of getting reimbursed for this. That didn't phase her in the least. I also told Shannon that I thought it despicable that Evergreen Management was making a profit off the information from the condominium projects that they managed - and by doing this they were holding up loans and hurting the individual condominium owners. Again, no 'owner occupied number' - and she didn't say they weren't making money selling these documents. read more