sqft in 2055 exterior only

[Webbed Feet]

You need an attorney. Get one ASAP.

Those minimum requirements include:It would appear your information was not adequate.

C.P.

It's far worse than that. All of us well informed people knew this type of legal action was coming. That form does NOT have the appropriate EA's within the preprinted verbiage for exterior only work. Fannie prohibited the SOW from being altered and EA's added, just copied the 1004 pretty much with only a few slight changes.

My prediction? Blind use of that form is going to result in some very big losses for quite a few appraisers out there. And they can all thank Fannie for it.

Webbed.

 

[Lobo Fan]

I have an order for a 2055 that instructs me to take my best guess if I cannot determine the GLA and room count. In this case there is no MLS data, and we are non-disclosure. It looks like the hhouses on the street run from 2100-2900 SF based on MLS data. Most are around 2400.

Not sure what to do. It is right in the order, but I am getting a weird vibe from this one.

 

[Mike Kennedy]

C.P.

It's far worse than that. All of us well informed people knew this type of legal action was coming. That form does NOT have the appropriate EA's within the preprinted verbiage for exterior only work. Fannie prohibited the SOW from being altered and EA's added, just copied the 1004 pretty much with only a few slight changes.

My prediction? Blind use of that form is going to result in some very big losses for quite a few appraisers out there. And they can all thank Fannie for it.

Webbed.

And the Cheerleading squad.

 

[Mike Kennedy]

I have an order for a 2055 that instructs me to take my best guess if I cannot determine the GLA and room count. In this case there is no MLS data, and we are non-disclosure. It looks like the hhouses on the street run from 2100-2900 SF based on MLS data. Most are around 2400.

Not sure what to do. It is right in the order, but I am getting a weird vibe from this one.

If insufficient data exists - a. recommend upgrade to 1004 or b. decline


95. Client specifies scope of worK

Question:
Is a scope of work specified by the client acceptable?

Response:
It is if that scope of work allows the appraiser to develop credible assignment results. If the scope of work specified by the client does not allow the development of credible assignment results, the appraiser needs to discuss changing the scope of work or withdraw from the assignment.

 

[Michigan CG]

I don't do 2055 report when interior access is available. Never, never, never.

Looks like a smart decision.

For the OP, I feel bad for you, but I think the lawyer is trying to scare you. I would tell him to find a way to have sexual relations with himself.

 

[Randolph Kinney]

Not to be a featherhead again, but would somebody please quote the post where the O.P. said the SOW involved a sale of the subject property?

Webbed.

Pay attention to my bold, underline and red of the OP:

Hi,

I just got a letter from a lawyer. He said I intentionally or negligently misrepresented the size of the house his client bought last year. I checked the appraisal I did for this purchase. Since it's a 2055 exterior only appraisal, I didn't need to measure the house and used the data from the county appraisal recores and MLS listing. Based on the country records and MLS listing it's 3,900 sf, which I used in my appraisal. But in the letter he said it's 3,415 sf based on the previous appraisal and I should have known it. In fact, I have never seen the previous appraisal and didn't know it is 3,415 sf. I'm very unhappy about this because the lawyer was making false statement. Should I lodge him a complaint?

Thanks.

Xiaomei

It says to me the OP did a 2055 for a purchase. Is that how you read it?

 

[timd354]

C.P.

It's far worse than that. All of us well informed people knew this type of legal action was coming. That form does NOT have the appropriate EA's within the preprinted verbiage for exterior only work. Fannie prohibited the SOW from being altered and EA's added, just copied the 1004 pretty much with only a few slight changes.

My prediction? Blind use of that form is going to result in some very big losses for quite a few appraisers out there. And they can all thank Fannie for it.

Webbed.

Webbed, where does Fannie Mae bar the appraiser from employing a EA in an exterior appraisal? Additionally, Fannie Mae does not prohibit the appraiser from making further statements explaining the SOW, though the appraiser cannot alter the SOW.....in any case here is a typical statement from one of the exterior only appraisals I did last year (I have not done any in over a year and never did many): I never had a lender/underwriter object to the inclusion of the following language in my report:

ADDITIONAL INFORMATION REGARDING The Scope of Work and Extraordinary Assumptions used in this Appraisal Report:
The appraiser has been requested to perform an appraisal based on an exterior only inspection from the street. The physical characteristics, including the above grade gross living area, used to develop this appraisal are based on the public records of Carroll County, MD and a recent listing of the subject property. On the basis of the observed conditions from the street, the information contained in the public records and listing appears to be correct. Thus, the appraiser has used the following Extraordinary Assumption in the development and reporting of the appraiser's opinion of value: the Appraiser has assumed that the information contained in the above-mentioned public records and recent listing of the subject property regarding the physical characteristics of the subject property is correct. If this assumption turns out to be incorrect, then the appraiser's opinion of value is subject to change.**


I actually think that an exterior only appraisal done with the proper disclosures and use of appropriate EA's has less risk of liability than a full interior/exterior appraisal.

 

[Lee Lansford]

I have an order for a 2055 that instructs me to take my best guess if I cannot determine the GLA and room count. In this case there is no MLS data, and we are non-disclosure. It looks like the hhouses on the street run from 2100-2900 SF based on MLS data. Most are around 2400.

Not sure what to do. It is right in the order, but I am getting a weird vibe from this one.

Accept OR Reject the assignment. It's your choice.

 

[timd354]

I have an order for a 2055 that instructs me to take my best guess if I cannot determine the GLA and room count. In this case there is no MLS data, and we are non-disclosure. It looks like the hhouses on the street run from 2100-2900 SF based on MLS data. Most are around 2400.

Not sure what to do. It is right in the order, but I am getting a weird vibe from this one.

If you don't have a credible source for the GLA, you need to reject the request...talk to the client, if you explain the problems with doing an exterior only on a property without a credible source for the GLA, they may upgrade the SOW and form to a full interior inspection.

 

[Ms. Janet]

For the OP, I feel bad for you, but I think the lawyer is trying to scare you. I would tell him to find a way to have sexual relations with himself.

One other thing you might do...If the house is vacant now, I would go measure it

NO!! Do NOT go measure the house!!!!