Desk Review with added comparables ?

[Tom Foster]

Anybody get one these orders ( I've declined about 5 so far )

Title - "Desk Review" so I'm thinking... Oh, good no driving, just sit at my desk.

Then I read on page 3 of the rules:

If you disagree with the Original appraisal, bring in 3 new comps

If you AGREE with the Original appraisal, bring in 2 new comps.

So now it's really a field review disguised as a desk review.

75 miles away from me for a fee of $100

150 mile round trip at 50 cents per mile ( Well there goes $75 ) with $25 still left.

3 hours driving time and 4 hours processing time = 7 hours.

$25 / 7 hours = $3.57 per hour

Then taxes take about $10 of that, so I now got $15 in pure profit !!!!

Or $2.14 per hour

But on the bright side...... At least I'm not in a third world country starving to death with flies all over my face and rabid dogs nipping at my flesh.

You see, many people around the world would kill to make $2.14 per hour.

Years ago I was very arrogant, knowing that I could walk into a certain bar and grill, ( on the corner of Chapman and Haster ) shoot a few games of pool and then have just about any female I wanted for the night.

I have now humbled myself with daily yoga classes and by juicing fresh fruits and vegetables. Once you know and understand your current limitations, then and only then are you truly free.

At this very moment, I no longer feel I have the "upper hand" in this so called appraisal business.

 

[J Grant]

Just because you may add 3 new comps does not turn it into a field review... why would adding comps turn it into a field review? Does the SOW specify driving by the comps, or just adding them in without inspection from street?

 

[NorthTexValuation]

Anybody get one these orders ( I've declined about 5 so far )

Title - "Desk Review" so I'm thinking... Oh, good no driving, just sit at my desk. Then I read on page 3 of the rules:

If you disagree with the Original appraisal, bring in 3 new comps

If you AGREE with the Original appraisal, bring in 2 new comps.

So now it's really a field review disguised as a desk review.

Not really.

There is no requirement to drive the subject and/or comparables.

There is a requirement to provide additional or substitute comparables and an opinion of value, therefore it's really a desktop appraisal report, disguised as a desk review.

 

[Tom Foster]

You are correct that I don't have to drive by the subject and take photos.

But they do require that I drive and photograph the comparables so yes its technically it's still a desk review.
This lender want the appraiser to drive the comps.

It would be hard to avoid looking at the subject and maybe snapping a photo if it was a few streets over from a comp.

Now if I could use MLS photos........... Nah too easy to match them up with the MLS.

Anyhoot, I'm now left with 3 issues now. The driving, the desktop and expenditure.

Maybe I should just move to Texas and have some real excitement with apples and sandpaper.

 

[J Grant]

You are correct that I don't have to drive by the subject and take photos.

But they do require that I drive and photograph the comparables so yes its technically it's still a desk review.
This lender want the appraiser to drive the comps.

It would be hard to avoid looking at the subject and maybe snapping a photo if it was a few streets over from a comp.

Now if I could use MLS photos........... Nah too easy to match them up with the MLS.

Anyhoot, I'm now left with 3 issues now. The driving, the desktop and expenditure.

Maybe I should just move to Texas and have some real excitement with apples and sandpaper.

It is not a desk review if they require you to drive and photograph the comps. Are you certain that directive is in the SOW, or are you assuming it? If they require you to drive the comps in their instructions, contact them and ask for additional $.

 

[Tom Foster]

I told them I would do it for $350 and a slice of apple pie.

Will update as this event unfolds.

 

[miktay]

But on the bright side...... At least I'm not in a third world country starving to death with flies all over my face and rabid dogs nipping at my flesh.

At $2.14 per hour, the flies and dogs are not far behind.