Can I call owner on an exterior drive by?

[Fernando]

Nando--with all those binoculars and super zoom camera, you could be zooming yourself into a 'peeping-Tom' charge. Reading the notices given to the owner's property doesn't clarify the exterior condition you were sent there to observe, legally, from the street.

Actually, about 15 years ago I was driving my comps, and some crabby old lady called the police and I was accosted, as she said I was on her property taking photos of her (from my car, duh!). Some ppl just don't have a life...and they can lie somebody into police custody!

How do you know if a drive by subject is owner occupied?
Maybe if reading the notices stick near the door would give an indication if occupied by owner, tenant, or vacant.

 

[Dublin ohio]

Maybe if reading the notices stick near the door would give an indication if occupied by owner, tenant, or vacant.

Or you could end up in the hospital

 

[Fernando]

Or you could end up in the hospital

Appraising is a dangerous job. We don't get paid enough.

 

[Sandra Koutsopoulos]

There was a case on national news nearly a year ago where 4? young people in a car drove up the wrong driveway in error, then intended to get directions and the guy inside killed one of the kids. If I remember correctly, the shooter WAS charged. But you never know what is going through somebody's mind.

Also, a few years ago here in SoCal, before MJ was legalized, I was advised not to linger in front of houses or in driveways in a particular area in Riverside County because it was a known drug mfg area, and the tweakers had itchy fingers and multiple pitbulls and CaneCorsos.

In another incident, I was driving my comps near Compton, taking front photos, and decided to be a tourist for a moment and detoured off to see the Watts Tower, which is interconnected hand made artistic structures an Italian immigrant built there between 1921-1954. I was followed into the little dead-end park and surrounded by ppl on the street where I had just taken a comp photo, and they demanded to know why I was taking pictures in their neighborhood, accused me of being DEA. And they were well armed. They didn't know NUTHIN' 'bout no APPRAISAL sh*t, and I'm happy I made it out of that situation unscathed.... but wiser. Lesson: "Don't be lookin' for no trouble!"

I have done many of those pre-F/C appraisals, and I typically state that the property is being valued as C4 or better, and should it be found to be in worse condition, my opinion of value would be altered. Doesn't really matter whether the property is vacant, owner occupied or has squatters inside. Your SOW was not to determine occupancy; just put a number on it per what you see on the outside.

 

[ZZGAMAZZ]

Just disclose.

"The client instructed the appraiser not to contact the owner, and no interior inspection was made. Therefore, an average (or whatever) interior condition is assumed for appraisal purposes. If the actual condition is later found to be different, it could affect assignment results. The condition and upgrades are based on 3-year-old MLS photos (or whatever applies). Exterior drive-by showed X (fill in ) maintenance."

Just disclose.

"The client instructed the appraiser not to contact the owner, and no interior inspection was made. Therefore, an average (or whatever) interior condition is assumed for appraisal purposes. If the actual condition is later found to be different, it could affect assignment results. The condition and upgrades are based on 3-year-old MLS photos (or whatever applies). Exterior drive-by showed X (fill in ) maintenance."

The caveat to which you alluded by applying parentheses IMO should be discussed further. If an EA must be applied bcause the appaiser accepted the assignment conditions, should the subject condition be assumed to be Average [C3], or assumed to reflect the local neighborhood standard [possibly C2, C3, or C4]?

 

[Zoe]

Invest in appreciating assets. Real estate has been good but since Covid, commercial properties have been bad investment. I should have used those money in stocks which have appreciated much more and less tenant issues. Once you hit million dollar, money is easier to be made.

Okay, you are not answering my question. I am going out on a limb. You inherited money is my guess.

You inherited a bunch of money is my guess. Am I wrong?

I have a gift of reading people due to market value definition. Am I right or wrong?

 

[Fernando]

Okay, you are not answering my question. I am going out on a limb. You inherited money is my guess.

You inherited a bunch of money is my guess. Am I wrong?

I have a gift of reading people due to market value definition. Am I right or wrong?

Both my parents are alive. So no, I didn't inherit money though now as they get older, they do gift some.
But it's too late. I don't really need any more money.
When young and starting out, that's when I needed more help starting and raising a family.
When I wanted to buy a more expensive house in high end neighborhood as starter home, they didn't help. At least my brother helped but he was going to charge me interest on short term loan and I got very upset (that's another story).
After that, my wife and I couldn't depend on them including government for financial help and money we made, invested on our own.

 

[Sandra Koutsopoulos]

"...If an EA must be applied bcause the appaiser accepted the assignment conditions, should the subject condition be assumed to be Average [C3], or assumed to reflect the local neighborhood standard [possibly C2, C3, or C4]?..."

Unless I see the property is extremely rough on the outside (then maybe it's a C5), I ALWAYS grid it as C4, and make my remarks that I'm assuming my value is good if the property turns out to be C3 or C4, otherwise there needs to be an adjustment if it's worse.

I figure like this... if the owner didn't make the payments, he certainly didn't do recent upgrades, and may have skipped normal maintenance too since he's unable or unwilling to make the payments to keep the house. It's like buying a repossessed car: you know they haven't kept up on maintenance, probably didn't change the oil or do other services, because they couldn't even afford to make the payments on it, so WTH did they care about keeping the car in tiptop condition?! When you buy a repo-ed car, you know to expect it will cost something, or a LOT to make it a reliable well-maintained car. Same with houses.

 

[Fernando]

"...If an EA must be applied bcause the appaiser accepted the assignment conditions, should the subject condition be assumed to be Average [C3], or assumed to reflect the local neighborhood standard [possibly C2, C3, or C4]?..."

Unless I see the property is extremely rough on the outside (then maybe it's a C5), I ALWAYS grid it as C4, and make my remarks that I'm assuming my value is good if the property turns out to be C3 or C4, otherwise there needs to be an adjustment if it's worse.

I figure like this... if the owner didn't make the payments, he certainly didn't do recent upgrades, and may have skipped normal maintenance too since he's unable or unwilling to make the payments to keep the house. It's like buying a repossessed car: you know they haven't kept up on maintenance, probably didn't change the oil or do other services, because they couldn't even afford to make the payments on it, so WTH did they care about keeping the car in tiptop condition?! When you buy a repo-ed car, you know to expect it will cost something, or a LOT to make it a reliable well-maintained car. Same with houses.

The outside looks beat up and uncut grass. Looks terrible. Can I call it C5 or will that be a problem just assuming from the ugly outside?

 

[Zoe]

The outside looks beat up and uncut grass. Looks terrible. Can I call it C5 or will that be a problem just assuming from the ugly outside?

Go for it.