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.

REO Appraisal

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by sagi72, Feb 19, 2009.

Thread Status:
Not open for further replies.
  1. sagi72

    sagi72 New Member

    0
    Feb 19, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Georgia
    I just accepted a REO appraisal assignment today. It has been a while since I last completed one, any tips or suggestions would be appreciated.
     
  2. Hamlet

    Hamlet Elite Member

    0
    Aug 14, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Ohio
    Don't open the refrigerator door. :icon_mrgreen:
     
  3. Mountain Man

    Mountain Man Elite Member

    29
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Georgia
    ROFLMAO!!! :rof::rof:

    Yep, that's our Hamlet! :Emoticon_hug:
     
  4. Hamlet

    Hamlet Elite Member

    0
    Aug 14, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Ohio
    :)

    I am being as helpful as I can with the information given.:shrug:
     
  5. Mr Rex

    Mr Rex Elite Member

    196
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    I was going to point out the Competency Rule requirement to "disclose to the client the lack of knowledge and/or experience to the client before accepting the assignment" thing, but I grow tired of the popular refrain of "mean appraisers suck". I am a fragile flower, and easily bruised by negative karma.:flowers:
     
  6. Mountain Man

    Mountain Man Elite Member

    29
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Georgia
  7. leelansford

    leelansford Elite Member

    45
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois

    You're appraising this for the present lien-holder or...?!

    A bit more specifically, what concerns do you have?
     
  8. Vegan702

    Vegan702 Senior Member

    0
    Feb 24, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Nevada

    Doesn't it just draw you to open the door though? I know it does me. I will walk by the fridge 3 or 4 times when going through the house and it's like it's calling my name, Vegan, open my door, Vegan, come on I know you want to see what's inside, Vegan, I have something special inside for you.

    Same thing for the toilets! I just don't know why I do it every time, and every time it's full with no water!
     
  9. sagi72

    sagi72 New Member

    0
    Feb 19, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Georgia
    I am in the process of trying to find someone to work with me on this file.This is going to be my CE class this spring.It is for the Lien holder.
     
  10. VegasWayne

    VegasWayne Senior Member

    12
    Nov 15, 2007
    Professional Status:
    Licensed Appraiser
    State:
    Nevada
    You have all the luck, some of my REO's didn't have toilets.

    To the original post, find out what is required from the client. Not all require an REO addendum. Also some want a 30 day quick sale value and others may want it for 90 days or 120 days.
     
Thread Status:
Not open for further replies.

Share This Page