Crappy Hybrid Inspection

[Overimprovement]

This is why I don't get many review assignments--because my fees are not far from a full 1004. I know how long it will take. To me, unless you are doing the work of a full appraisal, how on earth can you support or refute the opinions/statements in another report?!

 

[Andee]

I agree on this. I don't do a lot of review work, and the ones I get are usually Desktop reviews (not field reviews).
BUT! I do take the time to pull up each comp used to verify via County records and MLS (sometimes other sources) to make sure the info in the report is correct

Do you run across issues with the Desktop reviews and ever offer a differing opinion of value?

 

[Andee]

This is why I don't get many review assignments--because my fees are not far from a full 1004. I know how long it will take. To me, unless you are doing the work of a full appraisal, how on earth can you support or refute the opinions/statements in another report?!

My fees are not far off from a full appraisal either, and I still get them. I actually told one of my clients after he sent me a different hybrid report that I needed more money because they take longer to review and they gave it to me.

 

[George Hatch]

I fully agree with the idea that there is a point of diminishing returns when it comes to doing reviews. Personally, I limit fixits to issues which pertain to value and marketability. For the rest, I characterize those in terms of "there's an error but it isn't sufficiently significant to affect the outcome".

With that said, there's no virtue to simply ignoring the little things, either. An error or omission may not warrant a fixit but if there's more than a couple of them they do warrant mention because not taking note of something in your report will widely be interpreted as you not seeing it to begin with. Jus as the appraiser is selling their credibility so too is the reviewer selling THEIR competency.

 

[J Grant]

There is no protective coating over the drywall...basically the laundry room wasn't painted and there was no cost to cure within the report or mention of it. I know it seems like a lot of minutia but just like George pointed out, that and the grill were just some small things but there are a lot of small things in this report that can add up to become one major issue.

Respectfully, I disagree, but I did not see the appraisal of course - an unpainted laundry room imo does not need a cost to cure. A built in summer kitchen has value but a grill ? In a million dollar home?

A lot of small meaningless things which never mattered in the first pace still does not create a series of errors that would affect value -

 

[J Grant]

I fully agree with the idea that there is a point of diminishing returns when it comes to doing reviews. Personally, I limit fixits to issues which pertain to value and marketability. For the rest, I characterize those in terms of "there's an error but it isn't sufficiently significant to affect the outcome".

With that said, there's no virtue to simply ignoring the little things, either. An error or omission may not warrant a fixit but if there's more than a couple of them they do warrant mention because not taking note of something in your report will widely be interpreted as you not seeing it to begin with. Jus as the appraiser is selling their credibility so too is the reviewer selling THEIR competency.

I know, but part of the reviewer's competency is not chasing nonsense like the cost to cure to paint a laundry room.

As far as smaller errors /inconstancies when doing a review, list them or point them out as see them but focus on the larger or more meaningful issues

 

[bnmappraisal]

Do you run across issues with the Desktop reviews and ever offer a differing opinion of value?

Thankfully the desktop reviews I usually get pretty much want to know "does the report make sense" - I generally do not have to opine a new value and/or agree/disagree with the original appraisal

My clients just want to basically know if the report is credible or not (i.e. are the sales ACTUAL sales or made up? is the subject's info accurate based on the info given? Is zoning correct? etc etc)

Most times everything is on the up and up, but sometimes I find (mostly typos) regarding certain info. It's not enough to make a big deal about, but I do add a comment to let my client know. I note it so they know I did MY due diligence)

 

[Andee]

Respectfully, I disagree, but I did not see the appraisal of course - an unpainted laundry room imo does not need a cost to cure. A built in summer kitchen has value but a grill ? In a million dollar home?

A lot of small meaningless things which never mattered in the first pace still does not create a series of errors that would affect value -

This is Texas...they are proud of the BBQ skills out here and install grills/outdoor kitchens that cost $$$$$, so on this I will have to disagree, even in a million dollar home.

So if this were a $500K home would that make a difference for you to consider it?

To me it is just odd that this is actually the second time I have seen this amenity left off/out of a report by 2 separate appraisers that work for the same company, in less than a month.

 

[J Grant]

This is Texas...they are proud of the BBQ skills out here and install grills/outdoor kitchens that cost $$$$$, so on this I will have to disagree, even in a million dollar home.

So if this were a $500K home would that make a difference for you to consider it?

To me it is just odd that this is actually the second time I have seen this amenity left off/out of a report by 2 separate appraisers that work for the same company, in less than a month.

As I said, a summer kitchen , built in grill, fridge, serving area etc esp if elaborate would likely have value. You simply said a grill so it was confusing!

 

[TC]

Most times everything is on the up and up, but sometimes I find (mostly typos) regarding certain info. It's not enough to make a big deal about, but I do add a comment to let my client know. I note it so they know I did MY due diligence)

Do you see alot of typoes?