What condition rating

[TerryRohrer]

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.

The first (and only) thing I read from what DW posted was the first thing it said: “This information is not a replacement or substitute for the requirements in the Freddie Mac Single-Family Seller/Servicer Guide and other Purchase Documents.”

I also read the condition definitions in Post #2 of this thread, each which begins with “The dwelling”, and the criteria for each rating, each of which begins with, “A dwelling.” Freddie is not at fault when their pronouncements are intentionally misinterpreted, even if they are wrong.

 

[djd09]

The GSE’s have been using that same old worn line of bull**** about comparable sales not being inspected and still determining condition rating. What they forget is we have a confirmed sale price that goes along with each comparable property. So if a home sold for a high price and the photos looked decent, it’s reasonable to assume a C3. Take away that sale price and you are flying blind.

But don’t expect any of them to come here and acknowledge their mistake. All the scams they’ve been pushing on this profession over the last decade are based on that nonsensical premise.

it could have been non inspected waiver sale...

 

[djd09]

Anyone see Mjapz ?

yeah...how many times did you hit the report button on him

 

[Terrel L. Shields]

So, who has not encourntered a 20-year-old house with a 2-year-old addition adding 30% or more to the GLA and the addition is obviously newer. So what is the C and Q ratings then?

 

[djd09]

it is a hard pill to swallow seeing the former AQB chair quote USPAP...while the company he works for uses it as toilet paper for all their waivers

 

[Fernando]

If I had a big crack on my window (stupid bird crashed into it), would that be C5?
Good thing appraiser didn't noticed the crack and didn't mentioned it in appraisal report.
The cracked window was like that for many years.
Then when contractor remodeled my kitchen, he was nice to replace the cracked window for free. Thanks.

 

[glenn walker]

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.....

He's been missing in action and his non stop everyone is a unethical liar and crook is missed. 20 plus years of victim hood and back room deals being made. Lmao

 

[glenn walker]

yeah...how many times did you hit the report button on him

Not one single time. I've never reported or complained even once on any AF member and that includes one who called me and threatened to fly down and beat the hell out of me. He's never bothered me and there's always the ignore button for people who can't handle things. Lol

 

[CGinMN]

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.

You think if a comp only has one MLS photo I can't develop credible assignment results? How many MLS photos are required by USPAP to develop a condition rating? What % of the home has to be shown in MLS photos in order for it to be included in a GSE report?

The condition rating for Comp #8 was developed based on observation of one available MLS photo showing the kitchen. I was unable to obtain additional information about this comparable sale's condition, thus it is given no weight in the reconciliation. It is included because it is a model match for the subject, located directly across the street.

All this just to avoid giving an opinion about whether it's C3 or C4?

 

[Dale Floyd]

That is why I provided a citation

Can you provide a citation to the contrary?

I already did. Do you require a list of others who heard it?

What possible motivation would I have to fib? Come on Danny.