Any appraisers here specialize in same day turn time appraisals?

[sputnam]

Completing an appraisal in a day isn't the same thing as one day turn time. I know several appraisers who often complete an appraisal and deliver the report on the same day as the inspection.. I've done that but not on a regular basis. I have known a couple of appraisers who average two appraisals a day. However, one day TAT as a specialy also has to deal with the fact that the property contact isn't sitting there waiting for you to show up.

 

[ucbruin]

I've seen reports where the OMW is the contract price with cherry picked comps with low adjustments (not because they are similar but because they are putting in nominal adjustments it seems). I have agreed with some even though the analysis was horrible in my opinion. Like a broken clock, number hitters can be correct without a credible report.

What was the % of appraisals (for purchases) that GSE/FNMA or whomever reported that was appraised at the contract price....
90%....

10%, as if only some small handful of FORUMITES don't "HIT THE PURCHASE PROCE"....
GET OVER YOUR BAD SELVES....

 

[JGuerrera]

A bunch of Bi**hy Litlle
Crybabies!

 

[Airstream]

I have done the inspection and the report on the same day. Typically they are on easy properties and the comparable sales are pretty obvious. Or the property is just like a property I just did a week ago and I clone the report. It happens from time to time. Nice but rare.

 

[Terrel L. Shields]

The 3 little words every appraiser loves, "Vacant Key Box", especially if new construction, doable no problem. Only happens once in a blue moon, though.

99% of my new construction is a pre-construction appraisal. Zero improvements. And for many in house, they prefer to wait until repairs are done to send an appraiser out. Final inspections for in house lenders are often their own staff. I have clients I've done dozens of reports for without ever having done a final inspection for them...

 

[Terrel L. Shields]

What was the % of appraisals (for purchases) that GSE/FNMA or whomever reported that was appraised at the contract price....
90%....

10%, as if only some small handful of FORUMITES don't "HIT THE PURCHASE PROCE"....

But FNMA doesn't even see the ones that don't come in on the money or higher. And if 3% off the contract price what is the probable price a property will sell for if NOT the sales contract price. Hard to say you couldn't predict the eventual sale price was going to be the contract price AND did you use that contract price later as a COMP? Or, did you adjust it to your own opinion of MV?

 

[Alsie35]

99% of my new construction is a pre-construction appraisal. Zero improvements. And for many in house, they prefer to wait until repairs are done to send an appraiser out. Final inspections for in house lenders are often their own staff. I have clients I've done dozens of reports for without ever having done a final inspection for them...

I turn down 100% of those. (Not that I get many such orders - one or two a year). Way too much trouble. If I've never done something after 21 years ... I got less than 0 interest in "reinventing that wheel". But then again, what you are probably talking about are not tract homes in sprawling developments, but more "one off" custom builds - right?

In my world there is no shortage of "in progress" or already completed new builds ... thank heaven ...

 

[Fernando]

If ever I am offered a RUSH ONE DAY turn time assignment I immediately decline. There is only one TRUE reason to request such an assignment. It is a great way for the Clients to learn who will 'play ball' for their team. I am not that type of team player.

If the fee is HIGH enough, I could do it in 24 hours. The main problem I find in these 1 day rush job is that the client has an ulterior motive in getting an appraiser who will do a quick job and thus overlook some crucial information or deficit of the property. Client can't pull a fast one on Fernando.