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Abbreviated And Desk Top Appraisals

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Jeff Deuitch

Sophomore Member
Joined
Aug 15, 2006
Professional Status
Certified Residential Appraiser
State
Florida
Sorry if this is a recurring topic, but have been away from the forum for awhile.

Have seen an uptick in AMCs promoting abbreviated desktop appraisal products. One recent webinar I attended touted gross income to appraisers who particiapte. I am open minded but somewhat skeptical.

Anyone doing these? If so, what are your thoughts? Any comments from the foundation on conformity problems with USPAP?

Can't get emails answered about fees. Any examples? I have heard around $50 but have not have any orders come my way. Realistic completion time for these?

Feedback appreciated.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Evaluators, non-appraisers, here earn $175 with no inspection (the loan officer takes the pix). With inspection, $225. Are you worth less than an untrained, unlicensed evaluator? If so, go for it.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Ever since I began doing appraisals, I've been asked, "Hey we don't need a full appraisal, just a quick value, nobody's going to see it." I've gone to classes, I heard the arguments, and I think it boils down to the engagement. If you can some how get the client to restrict the engagement, then you might be able to stick you neck out and not have to do much, and get paid maybe a $100 bucks.

But, your neck might get chopped off and left to twist in the wind, and it will be declare an appraisal, and then your subject to Standard 1 and 2. I don't know, but I'm assuming the board will nail your ears to the wall if they want to. Just depends on the circumstances. Terrel and I are old farts and we pretty much get paid for what were worth. I tell people who call me all the times if they want a free appraisal they should call a realtor and get a free CMA.

An evaluation is a restricted, short form report that SHALL meet Standards 1 and 2. How that can be done for $75 or $175 and the appraiser look himself in the mirror is beyond me.

http://www.appraisalinstitute.org/assets/1/7/guide-note-13.pdf
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
If you write it on a fancy paper napkin, you're cool. :alcoholic:
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
Ever since I began doing appraisals, I've been asked, "Hey we don't need a full appraisal, just a quick value, nobody's going to see it." I've gone to classes, I heard the arguments, and I think it boils down to the engagement. If you can some how get the client to restrict the engagement, then you might be able to stick you neck out and not have to do much, and get paid maybe a $100 bucks.

But, your neck might get chopped off and left to twist in the wind, and it will be declare an appraisal, and then your subject to Standard 1 and 2. I don't know, but I'm assuming the board will nail your ears to the wall if they want to. .....
Maybe it's time to turn in your appraiser license - and make some real money ...:shrug:...:rof:
Boards have no power over what non-appraisers do, and, of course, USPAP does not apply to them.
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Any comments from the foundation on conformity problems with USPAP?
.

STANDARD 2(a)(vii)
When any portion of the work involves significant real property appraisal assistance,
the appraiser must summarize the extent of that assistance. The name(s) of those
providing the significant real property appraisal assistance must be stated in the
certification, in accordance with Standards Rule 2-3

STANDARD 2(b)(vii)
When any portion of the work involves significant real property appraisal assistance,
the appraiser must summarize the extent of that assistance. The name(s) of those
providing the significant real property appraisal assistance must be stated in the
certification, in accordance with Standards Rule 2-3


STANDARD 2-3

The names of individuals providing significant real property appraisal assistance who do not
sign a certification must be stated in the certification. It is not required that the description of
their assistance be contained in the certification, but disclosure of their assistance is required
in accordance with Standards Rule 2-2(a)(vii) or 2-2(b)(vii) as applicable.

STANDARD 2(b)

The content of a Restricted Appraisal Report must be consistent with the intended use of the
appraisal and, at a minimum:

The Restricted Appraisal Report is for client use only. Before entering into an
agreement, the appraiser should establish with the client the situations where this
type of report is to be used and should ensure that the client understands the
restricted utility of the Restricted Appraisal Report.

AMCs are not allowed. They are by definition 3r parties, yet they are the "client" that engaged you, and through which you transmit your report.

STANDARD 2(b)(viii)
Comment: An appraiser must maintain a specific, coherent workfile in support of a
Restricted Appraisal Report. The contents of the workfile must include sufficient
information to indicate that the appraiser complied with the requirements of
STANDARD 1
and for the appraiser to produce an Appraisal Report.


You want to do one for the property owner, why would you want someone else to send you the pictures???? 'Cause you don't even need pictures for a Restricted Report. Oh wait, do you need those pictures because there is more than one intended user, yet someone is asking for a Restricted Report????

Ghee is someone trying to get you to perform an appraisal really cheap, by calling it something else, or by influencing your opinoins by having ADDITIONAL 3rd parties take pictures to send to you? And your verification process for those pictures is?????

Don't feed the beast and you won't get eaten down the road.

.
 

jtinmichigan

Member
Joined
Feb 7, 2008
Professional Status
Certified Residential Appraiser
State
Michigan
Sorry if this is a recurring topic, but have been away from the forum for awhile.

Have seen an uptick in AMCs promoting abbreviated desktop appraisal products. One recent webinar I attended touted gross income to appraisers who particiapte. I am open minded but somewhat skeptical.

Anyone doing these? If so, what are your thoughts? Any comments from the foundation on conformity problems with USPAP?

Can't get emails answered about fees. Any examples? I have heard around $50 but have not have any orders come my way. Realistic completion time for these?

Feedback appreciated.
Run as fast as you can in the other direction. Any other direction, just run.
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
I can see a desktop appraisal done by a local appraiser who knows the area as being credible. But a number of ads I have seen want them done out of a regional area ( and some may be out of state as well).
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
If anyone is interested in these opportunities, look no further. I have a sideline business and have thousands of vendors completing these reports which take less than 20 minutes. To be placed on their list I only need 2 credit cards including the security code, the last 4 digits of your social, your mother's maiden name at last but not least, the declaration page of your E & O policy.
 
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