Can I call owner on an exterior drive by?

[Sandra Koutsopoulos]

Grass isn't structural. Exterior rotted, holes, peeling paint, broken windows, porch steps falling off? Take another look at the URAR description of C5 vs C4. Then use your experience and judgment. Gosh, I'll bet the orderer of this report is wondering why it's taking so long to get it back.

After it's vacant (sounds like it already is) and their F/C real estate rep gets in there, they are likely to do a PCR (Property Condition Report), which is generally sort of more or less kinda close to accurate. (I've seen all levels of competence in those reports). But as a drive-by, you are making assumptions based on exterior mostly-structural and maintenance of the building. Grass will grow while you're not looking, and has nothing to do with quality of building condition, tho it looks bad, and may mean the folks have already left or... perhaps are dead inside. If so, the odor of decaying flesh will be a nostril-opener. I've been in a house like that already too.

 

[Zoe]

Yeah, locally if you have not cut the grass in many jurisdictions, code will put a post sign on your house and say clean it up by XX/XX/XXXX. Contact us at this phone number immediately.

It will be signed with address of person putting notice on the house. Code can literally condemn a house. Code becomes new owner.

Kinda like an HOA. An HOA can get possession of the house if the owner don't comply with HOA rules.

The worst sign you want posted is you will be evicted on XX/XX/XXXX. People with guns and badges will be there on eviction day.

 

[sputnam]

Appraiser is not responsible for Scope of Work, Are they?

Have you ever read USPAP? The appraiser deterimes the Scope or Work needed for the assignment.

 

[Mark K]

Kinda like an HOA. An HOA can get possession of the house if the owner don't comply with HOA rules.

Not in this state and, I suspect, many others. All an HOA can do here is put a lien on the house. Here, only a judge can issue an eviction notice.

As far as eviction goes, I used to own a lot of rental properties and there was nothing more satisfying than seeing a deputy sheriff or local cop show up to a deadbeat's rental (my property) and telling them to start moving their sht out, NOW.

 

[J Grant]

When a client orders an ext pre forcosluse, later, if the house is taken back by the lender and they have interior access, they typcially ask for an interior inspeciotn and or a new appraisal.

 

[ZZGAMAZZ]

"...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.

I typically refer to ur comments as gospel but respectfully disagree, because the emphasis on Capital A "Always" warrant a Capital E for the "Extraordinary" magnitude of the Extraordinary Assumption upon which the default C4 condition is based, even if your perspective pertains to Liquidation assignment condition. I vaguely recall industry research to revealed the

 

[Zoe]

Have you ever read USPAP? The appraiser deterimes the Scope or Work needed for the assignment.

Have you ever heard of sarcasm? I am pretty good at all forms of sarcasm. You missed who is trying to set SOW.

To be frank, some are setting SOW besides appraiser although appraiser holds the bag on SOW.

 

[ZZGAMAZZ]

......sorry but I interrupted myself....Point Being is my opinion that to conservatiely assume a C4 condition isn't credible, but if applied in a report should include reference to industry research, or large-group peer practice, upon which the EA is based.

[But I'm still ranting about Appraiser Independence standards that prohibit lenders from advising an AMC of the specific appraiser who should be assigned. Tucking that punative standard under the guise of "Independence" is illogical and contradictoy to the Presumption of Innocence that should be applied to employment law as well as criminal law. Obviously nobody but me is concerned...]