Appraisal With No Inspection By Appraiser?

[Terrel L. Shields]

I bet its the inspection, but its really just an exterior photo, imo should be called an "observation" rather than an inspection, how is it an "inspection" looking at a house from curb or car?

I bet doing these inspections is grunt work, driving around all day on deadline then race back upload each one to website, not a great gig but pays bills.

If paying equally and even assuming equal time spent, liability and the value of my license means the inspect part is far more profitable.

 

[Digger88]

For the inspection or for completing the desktop

$20 for a pic of the front of the house and $50 to $95 for various desktops which take about a half hour to complete.

 

[hastalavista]

what are they paying for the inspections? that's the easy & fun part of the appraisal. and no USPAP.

Tom-
Just to clarify...
If they are engaging appraisers to do the inspection then USPAP does apply. No standards, but Ethics, Competency & Jurisdictional Exception apply (hard to imagine how JE would apply to this specific, but those are the USPAP rules that apply to appraisal practice).

 

[hastalavista]

I bet its the inspection, but its really just an exterior photo, imo should be called an "observation" rather than an inspection, how is it an "inspection" looking at a house from curb or car?

(my bold)

You should alert Fannie Mae about your concerns:

 

[bnmappraisal]

(my bold)

You should alert Fannie Mae about your concerns:
View attachment 36111

View attachment 36112

You beat me to it Denis...by minutes.
We, as appraisers, perform "visual inspections" all the time from the street/car
Not sure how that would be different for these type of assignments

 

[J Grant]

Not worth it ...just my comment that though fannie calls it an inspection and even appraisers refer to an exterior inspection, imo observing a property from the street is not the same as inspecting it walking the site front and rear and inside.

It's a BB my personal comment, I understand that the term visual inspection is used/accepted.

 

[hastalavista]

Not worth it ...just my comment that though fannie calls it and inspection and even appraisers refer to an exterior inspection, imo observing a property from the street is not the same as inspecting it walking the site front and rear and inside.

Of course it isn't the same.
That's why the 2055 has a different SOW than a 1004.
And that's why, in the certification, we certify we either (a) inspected or (b) did not inspect the subject property.
And, in regard to hybrids, that's why a 3rd party inspection is not the same as the appraiser inspecting the property. If there is one thing hybrids (at least the reoprts I've seen; not all of them for sure) make crystal clear is that the appraiser did not inspect the property at all.

 

[J Grant]

Below comments apply to exterior desktops/hybrids (not bifurcated where non appraiser does interior )

I may not want to do these at least not if I have better options. But if an appraiser meets USPAP compliance for work file and feels they get credible results, go for it. If desktops provide an alt source of income for appraisers can help appraisers hold out for better fees from AMC 's for other appraisal work, or keep appraisers busy who can not drive for various reasons or just want some part time play money income.

An appraiser would have to do a lot of volume to make a living doing these at the fees offered but as filler income or offer some security to say no to low AMC fees for other work could be helpful

 

[Terrel L. Shields]

Tom-
Just to clarify...
If they are engaging appraisers to do the inspection then USPAP does apply. No standards, but Ethics, Competency & Jurisdictional Exception apply (hard to imagine how JE would apply to this specific, but those are the USPAP rules that apply to appraisal practice).

Have you ever known an appraiser sanctioned where Std. 1 and 2 were not involved? Me neither

 

[J Grant]

I hope they pay the inspectors mileage reimbursement ! If not, it is terrible pay, consider cost of gas and wear and tear on car .