• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Condo drive-by?

Status
Not open for further replies.

Truett Neathery

Thread Starter
Member
Joined
Feb 16, 2003
Professional Status
Licensed Appraiser
State
California
I have a credit union client that has a borrower in default on their second TD- I will not have access to the home. What would be the proper form? I have the AI form, I do not want to do it on an EXCEL spreadsheet.

Thanks

TN
 

Offshore

Senior Member
Joined
Dec 25, 2005
Professional Status
Certified Residential Appraiser
State
North Carolina
If the client permits it I use the old Fannie or old Freddie 2055 for pre-foreclosures since the preprinted language permits an EA. Since it’s a credit union, they may be flexible on which form. Some lenders insist on the March 2005 2055 for exterior condo assignments. Taking the poison out of cert 10 on the new forms for exteriors can be difficult.
 

Offshore

Senior Member
Joined
Dec 25, 2005
Professional Status
Certified Residential Appraiser
State
North Carolina
When I do use that form, I do eliminate "appraiser's certifications" #8 and #9.
I’m curious, is it not sufficient to add sufficient clarifications which state they supersede any conflicting pre-printed verbiage? This is probably another one of those areas where it won’t matter unless you’re in a courtroom and someone wants point out the conflicting language as a way of questioning the accuracy of the report. It’s sad that it’s become a misdemeanor to invoke departure. :)
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
I’m curious, is it not sufficient to add sufficient clarifications which state they supersede any conflicting pre-printed verbiage? This is probably another one of those areas where it won’t matter unless you’re in a courtroom and someone wants point out the conflicting language as a way of questioning the accuracy of the report. It’s sad that it’s become a misdemeanor to invoke departure. :)

To answer your question: Maybe.

I prefer not to have my signature attached to a certification that I later--elsewhere in the report--indicate as something that I did not really certify to.

We remove the language in #8 and #9 and insert (following each #) "Not applicable to this
appraisal"
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Scope of Work issue - ask the client if the Generic format is sufficent/acceptable for their needs.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks