1. Welcome to AppraisersForum.com, the premiere online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Is appraiser suppose to take comp pics?

Discussion in 'Ask an Appraiser' started by Rural Oklahoma, Jan 16, 2012.

Thread Status:
Not open for further replies.
  1. Rural Oklahoma

    Rural Oklahoma Sophomore Member

    0
    Jan 10, 2012
    Professional Status:
    General Public
    State:
    Oklahoma
    Is the appraiser required to take their own comparable pictures or can you just pull them from the Internet?
     
  2. residentialguy

    residentialguy Elite Member

    180
    Mar 24, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Minnesota
    Depends on the lender requirements. Not a USPAP issue. Typically on a full appraisal, you must inspect them from the street, why not take them? Silly not to. Again, it is lender specific as to what they require. Fannie wants an inspection. FHA wants inspection and orig photos. Desks reports don't inspect or take photos of the comps or the subject.
     
    Last edited: Jan 16, 2012
  3. Jo Ann Meyer Stratton

    Jo Ann Meyer Stratton Elite Member

    44
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    An appraiser is to observe every comparable in their report as well as other possible comparables from the street. MLS photos are acceptable some times but since the appraiser is staring at the property from the street, in this day and age of digital cameras, it makes sense for the appraiser to take a photo of what they see. When an appraiser signs an appraisal report he / she are certifying that they have seen all comparables from the street. If they haven't done their due diligence they are in violation of Uniform Standards of Professional Appraisal Practice. A photo taken by the appraiser is proof they have observed the property at some time or other.

    By the way, one of my pet peeves with many appraisers is that they rely on MLS photos or somebody else's photos. That puts up a red flag that they may not of actually done what they said they did.
     
  4. Smokey Bear

    Smokey Bear Elite Member

    0
    Dec 8, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Some clients require that the appraiser use original photos (that they took themselves), but if the client doesn't require it, no, they don't.
     
  5. AnonApprsr

    AnonApprsr Elite Member

    0
    Jan 21, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Massachusetts
    Depends on the assignment. For a fannie mae backed refinance the appraiser has to inspect the comparable sales from the street. The appraiser can use any picture they want, and in some cases it is better to use an MLS picture. Certain lenders require original pictures or a stated reason why.
     
  6. Psichopaidas

    Psichopaidas New Member

    0
    Mar 16, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    What do you do for living?

    This is exacrlt why some AMC's out there pay as little as $150 to $200 fees for a UAD/URAR.
     
  7. JTip

    JTip Senior Member

    207
    Oct 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Pennsylvania
    No they are not and yes you can.
     
  8. incognito

    incognito Senior Member

    1
    Jul 14, 2005
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    Is that so? Can you provide a source for that?

    I think JTip's answer is correct...
     
  9. Riick

    Riick Elite Member

    49
    Aug 14, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Delaware

    Most of that happens to be in the certification on every 1004 you sign:

    SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting
    requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting
    conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior
    areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4)
    research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and​
    conclusions in this appraisal report.
     
  10. David Wimpelberg

    David Wimpelberg Moderator Staff Member Moderator

    149
    Mar 30, 2005
    Professional Status:
    Certified General Appraiser
    State:
    New York
    This issue is client specific.

    If the appraisal was for conventional lending purposes (Fannie, Freddie, etc.), then the appraiser is expected to drive by the comparable sales. The lender may also require that the appraiser take a picture of the comparable sale (if possible).

    For other types of assignments, the appraiser might not have to inspect the comparable sales or include photos in the report.
     
Thread Status:
Not open for further replies.

Share This Page