1004p

[bnmappraisal]

I'll see if they can expand on the loan type
Can't promise anything

 

[djd09]

 

[djd09]

"Peter T. Cristensen writes in the Q3 2018 issue of Valuation, a publication of the Appraisal Institute, that liability risks may lie below the surface of hybrid appraisal reports. What is a hybrid? Mr. Cristensen defines it as a report in which an appraiser does not inspect the property and rather “provide(s) an opinion of value utilizing a third-party property condition inspection.” One way the author suggests to minimize liability concerns is to include disclaimer language in the appraisal in which the intended user is told that “the appraiser has no liability or other responsibility for any matter relating to the condition of the property or other matters reported by any third party.”

https://www.jdsupra.com/legalnews/property-tax-and-valuation-topics-15614/

 

[Renee Healion]

Isn't that the way it goes--they quote you and misspell your name!

 

[EddieB]

I eagerly await Mr Christensen's follow-up article

 

[MS0963]

Check this article out! A company is taking pictures for the lenders and letting the lender choose which pictures and descriptions they want in the report.

http://appraisersblogs.com/verisite-photo-report-instant-appraisal-fraud

 

[ramrcdk]

For those of us where finished basements are the norm, the low ball inspector is sort of terrifying. I mean there's a reason most of these "inspectors" have time available in their professional lives for stuff like this, right? You think the competent agents with their crap together (the top 10% or 20% or whatever of that profession) are going to be doing these? No, they're busy. The home inspectors? Not them either, busy with better work. General contractors? Keep wishing, same as the home inspectors. It is going to be people in search of work through what has been called the "gig economy", and while you can't paint them all with the same brush, these folks are by and large the most generally unemployable people in our workforce, if you even want to go out on a limb and call them part of the workforce in the first place. The bottom 80% or 90% of the agent pool are pretty much the same demo.

I maintain that a property inspection in the appraisal context isn't like learning differential equations, but a minimum level of competence, and dedication to that competence, is required. We have an incentive to give a crap with our inspection work, via retaining clients as well as our license and E&O. When there is no incentive to give a crap, via a gig economy bottom feeder, no crap will be given. If you didn't have a driver's license to lose or insurance to maintain, and no threat of punishment, would you obey the speed limit?

"CREDIBLE" results!!! Enough info' for credible results .
So here quickly in short is an example of "one of these inspectors". (back about 2015) Curious so I accepted A "value net" type of desktop with their photos and condition info'.
IF I had not been "diligent" and NOT looked up the property on tax, MLS, etc., etc. and went by the specific subject info they provided I use, I would NOT have had "credible" results.
I can only guess they got "the subject" mixed up with all of the other crap and provided incorrect photos...that was what caught my eye.
THE...MY...report would have been a total non-defend-able mess. I contacted the rep', informed them, and said BYE!
Oh, also IF I had completed, for me, it would have taken about 2 hours NOT 30-45 minutes. Offered Fee: $45.
Since ALLLLLLL of these reports WILL be required 'A review', seems like $$$$ to be made would be in review IF you have THE ignorance to sign UP for ALL of the responsibility!

 

[ramrcdk]

Check this article out! A company is taking pictures for the lenders and letting the lender choose which pictures and descriptions they want in the report.

http://appraisersblogs.com/verisite-photo-report-instant-appraisal-fraud

 

[Elliott]

1234567890

 

[goumcanes]

Anyone else burping acid into their coffee with all this nonsense? Am I the only one getting ZAIO Chills right now? Remember ZAIO? The 1004-Z product (OMG this new one is the 1004-P..comeone..anyone with me??)........pay ZAIO $10,000 for the RIGHTS to walk the streets in your zone, take photos of houses, then mass appraise the crap outta the area and Bing...Bang...BOOM....voila your report sir..maam....

AMC that contacted me to do 1004p indicates they paying $125 and that this is quickens main deal going forward. Politely declined, hung up, then stared out window and watched the rain...until I realized it was not rain..but my own tears!!!!!!!