Appraisal With No Inspection By Appraiser?

[TRESinc]

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

naaaa. for $20 they get a range. if they want a number it's $35.

 

[Renee Healion]

It could be called The Word-Free Appraisal or The Numbery Thing.
Just the "solution" for that exec who lamented appraisers are just drag on their otherwise frictionless ascent to the Amazon model.

 

[miktay]

It could be called The Word-Free Appraisal or The Numbery Thing.

I like "The Numbery Thing"!
It has a sort of youthful, carefree hipster-dufus feel to it.
You can pay the $20 with your Venmo account will sipping your soy latte...

 

[TJSum]

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

Bingo, the question is how low appraisers will be willing to go to sell their signature and liability.

 

[chad hampton]

Or just sell them your signature to use as they see fit.

 

[TRESinc]

Bingo, the question is how low appraisers will be willing to go to sell their signature and liability.

back in the day the going price for a signature was $50.

true story. the second class i ever took as a trainee had a friend from a former job in it. when we spoke during a break they said they, as a trainee (though the title did not exist officially back then), they had 6 other "trainees" working for them covering a huge number of counties. when i inquired as to how that was possible i was told there were 2 licensed appraisers who were selling their signatures for $50 a report. imagine how many reports 7 people could do on a daily basis when reports were 6-10 pages long...

 

[Bob Ipock]

Or just sell them your signature to use as they see fit.

That has been done in NC. Appraiser let an AMC have control of his signature....all he got was a 1 year suspension as I recall.

 

[Bob Ipock]

Robert Paputseanos A5822 (Cherryville) By consent, the Board suspended Mr. Paputseanos’ residential license for a period of two years. The first twelve months of the suspension are active and the remainder is stayed. If Mr. Paputseanos completes the 15-hour National USPAP course, a course in appraiser liability and a course in business practices and ethics by September 15, 2007, the remainder of the suspenDisciplinary Actions 6 sion shall be inactive. The Board found that Mr. Paputseanos performed services for an appraisal company in North Carolina from August 2005 until January 2006. The appraisal company’s headquarters are located in Georgia, but it had an office in Cary, North Carolina until January 2006. For some assignments done for the company, Mr. Paputseanos did the inspection and took photographs, then emailed them to the company’s Cary office. A trainee in the office would enter all pertinent data, select the comparable sales, make adjustments to the sales, reconcile and assign value to the property, then affix Mr. Paputseanos’ signature. Initially, the completed reports were sent back to Mr. Paputseanos, who would review the reports and make any required changes. He would then email the reports back to the office and they would then be sent to the client. Over time, due to increasing assignment volume and demands from the appraisal company to improve turn around time, Mr. Paputseanos ceased looking at the work once the appraisal was completed. Mr. Paputseanos was under the impression that the person preparing the reports was a licensed appraiser, thus he did not declare this trainee with the Appraisal Board. There was no mention made on any of the appraisal reports that the trainee or any one else had provided significant professional assistance on the reports. Mr. Paputseanos failed to keep control of his signature and seal. He knew that another person was assembling appraisal reports and affixing his signature to them, yet he did not review those reports. He failed to take steps to ascertain whether the person preparing the reports was licensed, and he failed to supervise that person in the preparation of the reports.

 

[Overimprovement]

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

Exactly--they are already picking the comps, might as well let them make the adjustments too. I mean if they are deciding condition and quality and picking the comps, about all that's left is adjustments and recon.

Tell you what, just send me the completed report, and I will review it for USPAP compliance for only $375. Guaranteed turn around time of 1 hour after acceptance with pre-payment.

 

[Evincere]

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!!!!!

Yup