Crappy Hybrid Inspection

[Sadie]

then you should measure to the millimeter and still nobody cares

Well, only us appraisers might. But yeah.

 

[ramrcdk]

I think the reviewer pointing out the discrepancies should tell the client the end results are garbage, not just the products but the inspector and appraiser.

OK, yes the Client should have been informed UPFRONT that the Order Attachments were not adequate for the Review Ordered, Period.

I think the Thread Poster should know what Rules apply to the specific Appraisal Review Assignment. When ANSI is/ is not applicable.
And just because
the Poster uses a Line Adjustment for outdoor _____ or this-or-that doesn't mandate The (Appraiser) Appraisal under review "should have". Market Indicators always prevail & per each "specific case".
I think a How To Class on Review Appraisal could be very helpful.
I also believe Accepting A Order for a Review Assignment is not very wise, in the least whilst The Newness of these type Products moves you to the Front Line of the Firing Squad.

 

[Sadie]

OK, yes the Client should have been informed UPFRONT that the Order Attachments were not adequate for the Review Ordered, Period.

I think the Thread Poster should know what Rules apply to the specific Appraisal Review Assignment. When ANSI is/ is not applicable.
And just because
the Poster uses a Line Adjustment for outdoor _____ or this-or-that doesn't mandate The (Appraiser) Appraisal under review "should have". Market Indicators always prevail & per each "specific case".
I think a How To Class on Review Appraisal could be very helpful.
I also believe Accepting A Order for a Review Assignment is not very wise, in the least whilst The Newness of these type Products moves you to the Front Line of the Firing Squad.

Don't disagree. Also the whole use of a hybrid for this type of property is kind of suspect in my mind.

 

[Sadie]

OK, yes the Client should have been informed UPFRONT that the Order Attachments were not adequate for the Review Ordered, Period.

I think the Thread Poster should know what Rules apply to the specific Appraisal Review Assignment. When ANSI is/ is not applicable.
And just because
the Poster uses a Line Adjustment for outdoor _____ or this-or-that doesn't mandate The (Appraiser) Appraisal under review "should have". Market Indicators always prevail & per each "specific case".
I think a How To Class on Review Appraisal could be very helpful.
I also believe Accepting A Order for a Review Assignment is not very wise, in the least whilst The Newness of these type Products moves you to the Front Line of the Firing Squad.

regarding acceptance of the assignment. The appraisal, regardless of the form used must adhere to USPAP. Performing a review of a report requires you to know what constitutes a USPAP compliant appraisal report, which is not new, and knowing the FNMA supplemental standards, again which is not new. The only thing new is the form.

 

[glenn walker]

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.

Many of the wealthy people in SO CA have indoor Grills some of them cost $10,000 or more , the same with Pizza ovens , I have seen some at $15,000 to $25,000 .

 

[glenn walker]

Well, only us appraisers might. But yeah.

ANZI does not apply to Non-GSE agency reports and its not a USPAP issue . Normally Multi-Million Dollar properties are portfolio loans and ANZI would not apply-anyway.

 

[djd09]

ansi is the anti market standard. whatever commie that wrote it, never measured a house for the purpose of an appraisal. the bailout gse's also accepted hundreds of thousands of no doc loans, so keep rolling over, rover

 

[Andee]

Sorry if this has been observed before, but you aren't doing a hybrid, you are reviewing a hybrid, right? So standard review requirement would apply. You didn't look up the address before accepting the assignment? Why would you continue with the assignment when you discovered the assignment was way beyond what you thought it was? I'd think most appraisers would bail on this property as it is much more complex than a standard assignment.

Yes it is a review, and I do look up the address because I want to know what I'm dealing with first. The issue that I'm having is that it was a crappy hybrid inspection that the appraiser regurgitated into the report, and no I was not told that it was a hybrid report that I would be reviewing. I will be asking that question from now on...lesson learned.

 

[Andee]

So why the cut in fee? Why these $80-125 offers? Turn them down. Forgeddaboudit

The difference between my Field Review fee and my 1004 fee is only like $50. If I know it's a complex property, they get charged for it, but what made this more complex wasn't the property itself, because comps were available, it was all the crap of trying to figure it out between the inspection and the write up.

 

[Andee]

Who is being reviewed, the appraiser or the property "inspector"

The appraisal report in general, which unfortunately means the appraiser gets to take the heat for all of it.