Three days in a row. Different GLA than advertised.

[Tim Hicks (Texas)]

Monday: Home listed as 2510 sf GLA, only 2335 sf GLA. Not a terrible difference, but already a top of market sale and that 175 sf matters. In Tidewater now.

Tuesday: Home listed as 4335 sf GLA, only 3604 sf GLA. Luckily, it was on 20 acres and was not too big a factor.

Wednesday: Home listed 3022 sf GLA, only 2605 sf GLA.

Notice, they are all the wrong way in valuation importance.

All based on public records. Yet, waivers would never notice. Some think the appraiser inspection is not important, but when the PDR comes up with less GLA, do they make the appraiser measure it also?

 

[J Grant]

Monday: Home listed as 2510 sf GLA, only 2335 sf GLA. Not a terrible difference, but already a top of market sale and that 175 sf matters. In Tidewater now.

Tuesday: Home listed as 4335 sf GLA, only 3604 sf GLA. Luckily, it was on 20 acres and was not too big a factor.

Wednesday: Home listed 3022 sf GLA, only 2605 sf GLA.

Notice, they are all the wrong way in valuation importance.

All based on public records. Yet, waivers would never notice. Some think the appraiser inspection is not important, but when the PDR comes up with less GLA, do they make the appraiser measure it also?

lol, these same realtors are a prime group that will be doing the PDR data collection....

 

[DWiley]

Yet, waivers would never notice.

There are a lot of assumptions in that rather bold assertion.

 

[shrubberyvaluation]

There are a lot of assumptions in that rather bold assertion.

Correct, if the waiver was based on a past appraisal it might not be based on public records. Although we are being told these are the situations that waivers happen, I doubt it is the case most of the time.

 

[Tim Hicks (Texas)]

There are a lot of assumptions in that rather bold assertion.

Okay, besides having a previous appraisal. What other ways would it be found? Also, why don't agents use these previous appraisals on their listings? Why don't lenders order from the previous appraiser? I am sure the Freddie Mac waiver system is foolproof.

 

[Tim Hicks (Texas)]

There are a lot of assumptions in that rather bold assertion.

A lot of assumptions? That is a little overstated.

 

[Fernando]

Monday: Home listed as 2510 sf GLA, only 2335 sf GLA. Not a terrible difference, but already a top of market sale and that 175 sf matters. In Tidewater now.

Tuesday: Home listed as 4335 sf GLA, only 3604 sf GLA. Luckily, it was on 20 acres and was not too big a factor.

Wednesday: Home listed 3022 sf GLA, only 2605 sf GLA.

Notice, they are all the wrong way in valuation importance.

All based on public records. Yet, waivers would never notice. Some think the appraiser inspection is not important, but when the PDR comes up with less GLA, do they make the appraiser measure it also?

Bad inaccurate public records. Red flag that records consistently over figured GLA. And waivers would take notice.

 

[DWiley]

Okay, besides having a previous appraisal. What other ways would it be found? Also, why don't agents use these previous appraisals on their listings? Why don't lenders order from the previous appraiser? I am sure the Freddie Mac waiver system is foolproof.

I never said it was foolproof.

To be fair, you never said appraisals were foolproof - you just implied it.

Have there not been Forum members who admitted in this forum that they alter measurements so the GLA matches the tax card?

 

[Bobby Bucks]

How could this be possible when PDCs are vigorously screened by national recruiters who personally know appraisers making $600,000 a year performing desktops employing those same PDCs?

 

[Fernando]

I never said it was foolproof.

To be fair, you never said appraisals were foolproof - you just implied it.

Have there not been Forum members who admitted in this forum that they alter measurements so the GLA matches the tax card?

Some public records are more accurate and the good appraisers know which ones.