Appraiser Price Opinion (APO)

[Colorado Guy]

With the way the State of Colorado is preforming enforcement - I would not want to be this guy!

 

[hastalavista]

What do you guys think about him using unverified client supplied information to override public data?

It seems it hurts no one but the restricted use client, if false data is supplied but it just seems wrong.

I don't see it as an issue assuming the SOW & EAs are properly written.

 

[nauthead]

I filled out the Starbucks survey also. If everyone who reads this thread does the same, it would certainly keep someone busy with mail outs.

 

[jay trotta]

Edd
forgot we were Selling - thought we were providing a needed Service for a Fee and that information needs to be verified/analyized/ and adjusted accordingly (within some parameters, set up & required by others).

The $10 to $75 concept is unrealistic, all this does is make the IRS aware that a new enterprise is attempting to generate a large sum of benjamins in a short period of time. Hope all of these guys are keeping good records...hehe

 

[Marcia Langley]

Why would he not want this restricted use desktop product to be used by a lender?

At his price, it seems competitive with AVMs and BPOs which are used by lenders.

Do you think he is simply limiting his liability with this product? It almost sounds like he can only envision lenders using GSE compliant 2055/1004 appraisals.

 

[xm72mhd]

Edd
forgot we were Selling - thought we were providing a needed Service for a Fee and that information needs to be verified/analyized/ and adjusted accordingly (within some parameters, set up & required by others).

Actually we are mostly well trained and told to provide a service for a fee and then we end up competing with each other for the lowest price to sell a commodity called an appraisal report by us and considered file stuffer by them.

They only order this stuff to avoid criticism and possible sanctions from the regulators.

Beats me where the professional service went, but it is gone, gone and soon to be nothing more than a memory in the SFR end of things and maybe the commercial lending end as well. Professional Service has become a generic label in this profession. Anybody want it back?

To those who say yes, I advocate charging by the hour and working only hard money lender direct. Anybody want to starve along with me while we build the fix?

 

[Brad Ellis]

Bob,

Someone has to turn him in first!

I see you are in CO- one of those states. Care to be da guy?

Brad

 

[Ariba]

Turn them in for what?

Bob,

Someone has to turn him in first!

I see you are in CO- one of those states. Care to be da guy?

Brad

Brad,

Exactly what do you suggest you turn him in for? 1) Because you do not like the product that they are offering? 2) Turn him in for advertising? 3) Turn him in for having a web-site? 4) What????? What exactly have they done to be turned in for?

Also, what are the issues that would warrants an investigation by the State?

 

[Vegan702]

I guess I don't see the downside in running an operation like this assuming you can do everything legally and efficiently. It would be perfect for someone older who does not want to be out in the field anymore or maybe a handicapped appraiser. Do 1 an hour 5-8 hours a day at $65hr with no overhead besides yearly subscription fees to MLS, etc. Sounds like a great idea.

 

[Don Clark]

Full AppraisaL

Please explain what a "fULL APPRAISAL" is There are no longer any such things as Complete or Limited appraisals. There are only appraisals. A desk top appraisal can be completely in compliance with USPAP based on the SOW. The fact that some may not want to do them does not make them a violation of USPAP. Maybe it would help if instead of throwing around charges that such work violates USPAP that some would actually take the time to read USPAP.