Are we assuming to much here??

[Jeff Horton]

I wrote about the REO request I had that was down a private road and I could not see the house. I notified the client and just got my reply back. In the original request they have furnished me with square footage, room count, lot size ect. They say the data comes from a previous appraisal.

Today I get the following response back: Dont take any chances. If you are not comfortable going down the private road, they take a picture from the public street of the private road and assume the subject is in average condition"

Now I am not comfortable appraising something I can not ever see. So I am going to just drive down the road and look lost. Driving a pickup is plus is a situation/area like this.

But my question is if I were willing to appraise this house based on the information they gave without seeing the house, could I? Could I comply with USPAP requirements? Seems to me that you would have to make so many assumptions that the appraisal would be useless even if you meet USPAP.

 

[jtrotta]

Jeff, Jeff, hel lo Jeff are you there :?:

whew, whew, test, 65432, test; can you hear me know :?: HELLO :?:

CAN YOU HEAR ME KNOW :?: :?: HELLO :idea: H E L L O :arrow:

aw dam, the space shuttle door got stuck, who's out there - JEFF is that you :?:

744 / 2055 / JEFF, can you hear me know :?: :?: 8)

 

[Pamela Crowley (Florida)]

Jeff,

Yes, you can. Using someone elses data is an extraordinary assumption. You do need to fully explain what data you are using and where it came from. I would add that the reliability of this data unknown and that a personal physical observation of the subject has a very real possibility of causing a change in your conclusions.

USPAP does do a decent job of explaining using extraordinay assumptions. I'm tired right now and heading for bed but, if you need more about this, let me know.

 

[Kathy in FL]

Just an idea...but to get a look at the house you could always:

Print up a fake business card with your computer and try to sell them some insurance while glancing around the living room.

Actually take one or two of those pamplets and try to convert them to that annoying door-to-door religion.

Take your daughter and sell them scout cookies...or whatever her class is selling this week.

Knock on the door, and ask for Dolores. Are you sure she doesn' t live here? Do you know where she does live?

Take your dog along and ask them if they've lost one because you found this one.

OK...so honest, it's not...but it works!! (Don't you watch "Rockford Files?" He has a CAR full of fake business cards. Then again, he gets his butt kicked alot, too.)

Kathy in FL

 

[rtubbs]

Jeff, I agree with Pamela. sorta the same concept as appraising on a retrospective basis where the house may have been destroyed.

These REO's are sometimes a nightmare. I'm working on one "as we speak". located in a small subdivision. i stopped counting at 20 vehicles in the front yard, side yards, back yard-junk vehicles everywhere-big bold lettered "NO TRESPASSING" sign in front yard-2 pit bulls tied in front yard. for some reason, there's a lot of "For Sale" signs in this subdivision. Ron

 

[Mountain Man]

Jeff,
Take the license plate off of your truck and do what everyone else in my area does, drive around with a piece of cardboard in the back window that says "Tag Stolen". :roll: :lol:

 

[Ben Vukicevich SRA]

Kathy,

Your post about the Rockford Files brings back memories. Long ago I watched a Barnaby Jones episode where he gained access to a home for his undercover work by telling the maid at the door he was a real estate appraiser and had an appointment to inspect the home. She let him in and he went straight for the bedrooms to look for some evidence. See, we are the only ones who can go anywhere in someone's home without a warrrant-even the maid knows that and she didn't even follow him around.

That clipboard, it tells it all. You're an appraiser.

Ben

 

[Ruth Langkawel]

Yes, you can appraise a property without seeing it. Just describe the data source and your attempts to verify it.
1. Get them to send you the page 1 description and the drawing from the old appraisal.
2. Get the Assessors card and see how closely that agrees with the last appraisers description.
3. Check MLS for previous listings which will describe the property.

 

[KD247]

Kathy said: "Take your dog along and ask them if they've lost one because you found this one."

What do you do when they say "Thanks" and take your dog?

 

[Jeff Horton]

Kathy I love it!! You had me in tears laughing at you ideas. They are great!! However I am not taking my dog, they might say yea I lost him.

OK, what did you do before you became an Appriaser? Fiction writer or did you work for the CIA?

OK, lets go see if we can find this house. If I dont post here by Noon call 911 :lol: