Appraisal With No Inspection By Appraiser?

[johndullaghan]

Anybody else getting emails from companies (i.e. American Title) stating they are going to be starting an appraisal process where a separate party completes the inspection and takes the comparable photos. The appraiser takes the info and completes the 1004. What!!!!!

 

[hastalavista]

Yeah, there has been some talk about that here and there.

 

[hastalavista]

Have fun:
https://appraisersforum.com/forums/threads/hybrid.220265/

 

[Michigan CG]

Yeah, there has been some talk about that here and there.

Just a little.

https://appraisersforum.com/forums/threads/hybrid.220265/

 

[J Grant]

See hybrids, bifurcated appraisal threads. Your email solicitation may be part of pilot test program...what are they offering in fee and what is the turn time?

 

[chad hampton]

Email them back and tell them they may as well give you the value too.

lol, of course they want it on a 1004. It was only a matter of time.

 

[hastalavista]

Anybody else getting emails from companies (i.e. American Title) stating they are going to be starting an appraisal process where a separate party completes the inspection and takes the comparable photos. The appraiser takes the info and completes the 1004. What!!!!!

(my bold)

Since you've already identified the source of the request, can you provide their order where they want the report completed on a 1004?
That isn't possible as the signing appraiser certifies that s/he personally inspected the subject (interior/exterior) and comparables.

 

[hastalavista]

lol, of course they want it on a 1004. It was only a matter of time.

(my bold)

Unfortunately, from their website, it isn't clear if this is expected to be completed on a 1004 or not. Personally, I doubt it (I think the OP has misspoken). Hopefully, he'll clarify.

 

[Tom Woolford]

Chad, I was told it was a "Modified 1004" what ever the F that is. Some poor slob on the other end gets paid $100 to inspect the property do the sketch, and take pictures of the subject and computer selected comparables. Guy at the other end prepares this Modified 1004 and gets $125. So, they are getting a full report of highly questionable quality and USPAP compliance for 1/2 the price. No thanks.

 

[miktay]

Maybe for $20, we could just send them our opinion of market value with our signature attached and proof of E/O.