Average versus Fair condition

[Mike Garrett RAA]

Another fine reason to do away with appraisers..."they can't even agree on what to call the condition!"

 

[Pat Butler]

Or, get rid of Fannie who makes up their own requirements but never quite finishes the 'book'. :new_smile-l:

 

[Couch Potato]

Another fine reason to do away with appraisers..."they can't even agree on what to call the condition!"

No need to agree, just to be consistent and provide an accurate, detailed description in the report.

Though I am partial to the M&S ratings, there is certainly nothing sacred about them. As long as the reader gets an accurate picture of the property, and understands how it relates to the market, the words used in the grid are not particularly important.

Of course we could agree to standardize on a simple three-level system:

• Excellent – for the very best condition.
• Decent – for the livable house with no immeadiate problems.
• POS – for everything else.

 

[BNICK]

average vs. fair

let the photos tell the story

 

[Robert E Keller]

Problem with the pictures doing the talking is that the lender will remove the addendum pcts. and whos to know, the amount of fraud review work i get has no interior photos with them, I wish we could put the POS as condition and back it up with a story on how the property smells also, but they did away with the pride of ownership statement and it is now not PC. but may be we should go back to high school and use the "A" to "F" grading system, that should allow a failing grade on condition. but the current system of Excellent, Good, Average, Fair, and Poor I guess will have to do for now.