2055 Exterior And Then Borrower Lets Me In?

[JTip]

Here's a buck for a hamburger.

Since you are here, it's ok if you put cheese on it. I won't mind a couple pieces of bacon too. While you are at it, how about some sautéed mushrooms too.

 

[Mr Rex]

I'd prolly ask them to hold my parrot and if any of the bushes needed watering.

 

[Tom4value]

I nominate this for the answer Hall of Fame.

Here is the pre-printed SOW from a 2055

View attachment 34705

One may always exceed the minimum, and for a 2055 assignment stepping foot inside does NOT automatically trigger the 1004 SOW; it just means that the 2055 SOW has been exceeded. That should, of course, be communicated in the report, so the intended user understands the SOW performed exceeded the minimum.

How do you figure that?
Are you saying that we can disclose, "I inspected the inside but I didn't really inspect it." ? How would that work? you inspect the first floor but don't bother going upstairs or in the basement?

 

[Gulf Coast]

Great answers, everyone...well, almost everyone! Thank you

 

[TRESinc]

In my experience they order a drive-by because it is a foreclosure.

what about equity lines or bridge loans?

 

[djd09]

If the supposed 'owner' or some unknown person asks what i am doing, i never tell them the truth. They are not the client. The client ordered a drive by and that is what they get.

 

[DWiley]

How do you figure that?
Are you saying that we can disclose, "I inspected the inside but I didn't really inspect it." ? How would that work? you inspect the first floor but don't bother going upstairs or in the basement?

No. I would simply clarify the extent of the inspection/observation. In fact, I might use "observation" rather than "inspection." Example:

In addition to the exterior inspection, the appraiser also completed a limited observation of the interior. The appraiser walked through the home at the invitation of the owner. The home was not measured; the GLA is from (insert source). This observation was NOT a complete visual inspection as required when using form 1004.

How hard is that?​

The reason we inspect properties is to gather data, and i just don't see the downside to gathering the most data I can.

 

[hastalavista]

If it's a drive-by, there may be a reason for it. News flash "missing appraiser" does drive-by and never comes home. Next time say sorry, I am not authorized to go inside and do a full inspection. However, I will contact the bank and request a full inspection; since you are willing. Never go into a house unless someone knows you will be going inside.

Amy-

While I don't quite share your concern, yours is the best reason I can think of for not going into the house (personal safety).
Certainly, I can imagine having the same concern; and if I did, I would not go inside. But, for the times when this has happened to me, I've had no concern and took the borrower up on the offer.

Does an appraiser have to go in on a drive-by? Certainly not.
Can an appraiser go inside and walk-through and not trigger many of the concerns raised here about extra 1004? IMO, definitely yes.
Would I do it? Unless I had some personal safety concern, I would. Or, I could imagine declining if I was running late to the next appointment; but in most cases, the answer for me would be "yes".

 

[JTip]

Scope...........of............work.........

and i just don't see the downside to gathering the most data I can.

$$$$$$$$$$

 

[DWiley]

Scope...........of............work.........



$$$$$$$$$$

Yeah, I get that. I also get that if it just so happens that the kitchen has been renovated and don't have that in my report because I decline an invitation to go inside, then I will have to deal with that later, and THAT would cost money as well. even if I "stick to my guns" and say it was an exterior only, I still have to deal with the calls/emails and the associated wasted time.