What condition rating

[Fernando]

My copy of USPAP says "...collect, verify, and analyze all information necessary for credible assignment results."

I don't think think a defense of "but the MLS only had 1 photo," or "I assumed the condition based on the sale price," are what I would want to take to my state board, but YMMV.

USPAP gave us leeway with hypothetical assumptions to legitimize our rationalizations.

 

[glenn walker]

I'll bet you DW is thinking "Geez....I wish the gse's would pull the plug on these guys already!"

If I was the D I'd be telling my superiors that it's hopeless and we need to get rid of these people within 36 month's.

 

[DWiley]

USPAP gave us leeway with hypothetical assumptions to legitimize our rationalizations.

Yes, in general USPAP allows assumptions (with proper disclosure), but GSE work is subject to restrictions, including this one, which is stated right in the appraisal report:



Hence, adding assumptions is not allowed, except through use of the CBs at the bottom of page 2.

 

[glenn walker]

Yes, in general USPAP allows assumptions (with proper disclosure), but GSE work is subject to restrictions, including this one, which is stated right in the appraisal report:

View attachment 101606

Hence, adding assumptions is not allowed, except through use of the CBs at the bottom of page 2.

Gump.

 

[glenn walker]

Anyone see Mjapz ?

 

[Surf Cat]

Anyone see Mjapz ?

He's probably being beat up in a basement by dudes dressed in ice uniforms.... but they're from the ASB and the appraisal institute.....

 

[alebrewer]

DOG PILE ON DW! Lol

Haha. The downside to being the face of Freddie. You can't over share.

 

[NC Appraising]

How can "overall" regarding the "property" be read to mean an individual component? Part of the issue here is making up interpretations of black and white text to support what you wish they meant.

OK, got me thinking...I know scary.

Overall doesn't mean an individual component. Agree.

Overall is ment that we have to come to a final conclusion of the overall condition of the home and only one condition rating can be used. Makes sense. Appraisers cant use use C3/4 on the grid. I.e., avg/gd.

Freddie mac:
"The Q and C ratings only apply to the overall condition and quality of the subject property

Can we read that in a different context? Yes, the final q and c rating can only apply to the overall condition rating. Makes sense as we can only choose One Final rating, eventhough other components maybe c4 or average and cannot use a combination on the sales grid.



See what dw posted from freddie #6

1. If a property's overall rating could be C2, C3, C4, or C5 for Condition, but there is one item alone that could be rated a C6, how should the property be rated?
   The condition of the property should be determined holistically, and the best definition should be applied as the overall rating. However, the C6 rating is an exception because it indicates that the property suffers from trait(s) that negatively affect the safety, soundness or structural integrity of the improvements. As a result, if any portion of the dwelling is rated a C6, the whole dwelling must be rated a C6.
   
   
   
   Either I'm wrong or freddie needs to rewrite the above with poor, fair, average, good, very good or new because per Terry, an individual component cannot use c1-c6.

 

[Surf Cat]

Let's go back to the mortgage brokers ordering appraisals.....Release the Kraken!

 

[Surf Cat]

Haha. The downside to being the face of Freddie. You can't over share.

Or apparently give an opinion of a condition grade of a picture of a kitchen on an online forum..