Bedroom photos required. Invasion of privacy?

[Michigan CG]

..............
And, for ALL of you who don't know what a "hard money lender" is, here you go, from Wikipedia, now you don't have to feel inferior. m2:

Hard money lenders are lending companies offering a specialized type of real-estate backed loan. Hard money lenders provide short-term loans (also called a bridge loan) that provide funding based on the value of real estate that has been collateralized for the loan. Hard money lenders typically have much higher interest rates than banks because they fund deals that do not conform to bank standards.
Hard money lenders will offer a range of requirements on the loan-to-value percentage, type of real estate and minimum loan size for a hard money loan.

You just proved my point. I would suggest other sources for your information besides Wikipedia.

 

[Delta85]

For the record -- I generally don't take bedroom photos unless theres some form of Deterioration, or some recent update (this doesn't mean Fresh Paint).

Me either. Unless, as you said, there is some deterioration or perhaps it's a new addition or a very spectacular master bedroom.

 

[PropertyEconomics]

I dont know why any appraiser would not take a photo of every room in the house while you are doing an inspection ... it is a great way to limit liability and it costs an appraiser NOTHING .... to not do it is not a very responsible business decision.

 

[Delta85]

I dont know why any appraiser would not take a photo of every room in the house while you are doing an inspection ... it is a great way to limit liability and it costs an appraiser NOTHING .... to not do it is not a very responsible business decision.

That's true, but you can make the same case for photographing every inch of the property then. Every closet, the kitchen from every angle, inside the garage, every side of the shed, the driveway, patio, unfinished basement from every angle, etc. Do you snap photos of all these areas? If challenged on the accuracy of your reporting in one of those areas do you have photos to back up your opinion?

 

[PropertyEconomics]

That's true, but you can make the same case for photographing every inch of the property then. Every closet, the kitchen from every angle, inside the garage, every side of the shed, the driveway, patio, unfinished basement from every angle, etc. Do you snap photos of all these areas? If challenged on the accuracy of your reporting in one of those areas do you have photos to back up your opinion?

Delta Im not here to argue with you .. contact your E&O provider and ask them the question ... I will just tell you more in your file is better than less .... you do as you see fit. Im not your boss nor do I write your business plan .. its all yours.

 

[Smokey Bear]

That's true, but you can make the same case for photographing every inch of the property then. Every closet, the kitchen from every angle, inside the garage, every side of the shed, the driveway, patio, unfinished basement from every angle, etc. Do you snap photos of all these areas? If challenged on the accuracy of your reporting in one of those areas do you have photos to back up your opinion?

Nothing like a good slippery slope for a Saturday.

 

[Delta85]

Delta Im not here to argue with you .. contact your E&O provider and ask them the question ... I will just tell you more in your file is better than less .... you do as you see fit. Im not your boss nor do I write your business plan .. its all yours.

Don't get me wrong I'm not being combative. I'm just thinking out loud. Theoretically to avoid all liability an appraiser should photograph every inch of the subject from every angle. I doubt appraisers are doing this so basically all appraisers are open to liability on each and every report for not having pics of unfinished basements, closets, driveways (the entire driveway, not just what is seen in the front photo), etc.

I'll admit I don't do this. Most of my reports contain photos of the kitchen, living room, all bathrooms, any finished areas of the basement, any recent renovations or deterioration, and exterior shots. I add more as needed.

Would I be liable for not getting the bedrooms? I suppose. But I'd be just as liable for not getting the inside of the garage too right?

 

[TJSum]

What makes the bedroom so special? If you are of the invasion of privacy attitude, well the entire appraisal process is an invasion of privacy, why draw the line at the bedroom ??? If they want to get a home loan from any particular bank, then the lender has the right to see what they need to see with the home. Now if the child is in the room at the time, that is different, but we already know not to include pictures of people, so what is the BFD of any vacant room picture.

 

[Cob]

It's only a matter of time (and I'm not kidding here) till lenders will want appraiser to video their entire site visit of the subject property with a flip or a device similar to it.

 

[spgray65]

It's only a matter of time (and I'm not kidding here) till lenders will want appraiser to video their entire site visit of the subject property with a flip or a device similar to it.

That's what I'm thinking too! Once they can compress video file down small enough.....