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Desktop Appraisal Format
- Thread starter Doug in NC
- Start date
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Lee Lansford
Elite Member
- Joined
- Mar 29, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Illinois
MIke Boyd:
A "DeskTop Appraisal" is one way to describe an appraisal conducted without benefit of the appraiser personally viewing the subject or the sales comparisons.
A "DeskTop Appraisal" is one way to describe an appraisal conducted without benefit of the appraiser personally viewing the subject or the sales comparisons.
Carnivore
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
Mike,
Takng Leelansford comment,
Its like doing a drive by exterior without driving by and using GIS or MLS pictures and data.
Its a cheap way for them to make a loan. Course I am very conservative with my opinion, so its not the panacea they are looking for.
Takng Leelansford comment,
Its like doing a drive by exterior without driving by and using GIS or MLS pictures and data.
Its a cheap way for them to make a loan. Course I am very conservative with my opinion, so its not the panacea they are looking for.
Thank you for answering my question, "What is a desktop appraisal." It is what I thought and I think it is sifk, sick, sick! It is like doing comp checks and we, as appraisers, should not stoop to doing them. Will anyone tell me what the client has offered as a fee for such an abortion? I bet it is less than $100. I contend that any appraisal function where the promised fee is less than $100 is give away and does not cover yours costs unless you do not value your time.
Jo Ann Meyer Stratton
Elite Member
- Joined
- Jan 16, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Arizona
The fee the AMCs offer range from $25 to $50. The one order I did accept (had lots of information, photos and previous appraisal on the subject) still took over six hours because of the clients crazy computer system for sending the report. The actual original report using the form in my software took less than half an hour but fighting their computer system took hours. So never again, unless it is on my terms, my system and my fee!!
Got a phone call several days ago from another AMC that wanted to know if I was interested in doing "inspections", which would not involve anything to do with a value opinion. Drive by the property, take one photo, report if it looked vacant or occupied and if there was any damage visible from a public street, or if vacant, get a key from somebody, take pictures of any personal property or damage inside or outside the home. The fee they offered fro the drive by was a whole big $8--the interior one was $14. I started laughing so hard on the phone I couldn't even talk. The voice on the other line keep saying that was a standard fee that appraisers were accepting nationwide because the inspections could be done while on the way to or from an actual appraisal assignment. I just kept laughing harder and harder until I could finally gasp NO thank you and then they hung up.
Got a phone call several days ago from another AMC that wanted to know if I was interested in doing "inspections", which would not involve anything to do with a value opinion. Drive by the property, take one photo, report if it looked vacant or occupied and if there was any damage visible from a public street, or if vacant, get a key from somebody, take pictures of any personal property or damage inside or outside the home. The fee they offered fro the drive by was a whole big $8--the interior one was $14. I started laughing so hard on the phone I couldn't even talk. The voice on the other line keep saying that was a standard fee that appraisers were accepting nationwide because the inspections could be done while on the way to or from an actual appraisal assignment. I just kept laughing harder and harder until I could finally gasp NO thank you and then they hung up.
Elliott
Elite Member
- Joined
- Apr 23, 2002
- Professional Status
- Certified General Appraiser
- State
- Oregon
$25, $50, $100....wow, that's not a lot of money.
Ever notice how you do 2055's and you can get hit by
underwriters that want interior diagrams, more
comps, extended comments on adjustments?
So far the calls I've gotten, I just say, "sorry,
I don't do them."
All the pretty words of non-disclosure don't mean
much when the property goes into foreclosure
based on your appraisal. Who
they going to go after?
elliott
Ever notice how you do 2055's and you can get hit by
underwriters that want interior diagrams, more
comps, extended comments on adjustments?
So far the calls I've gotten, I just say, "sorry,
I don't do them."
All the pretty words of non-disclosure don't mean
much when the property goes into foreclosure
based on your appraisal. Who
they going to go after?
elliott
Lee Lansford
Elite Member
- Joined
- Mar 29, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Illinois
Some years ago when the concept of an "exterior-only" appraisal was introduced, I recall that many appraisers were concerned about how this new product was going to be some combination of the end of the world and virtually impossible for an appraiser to adequately develop and report. Well, neither possibility has been realized (IMHO).
I admit, to at least some degree, I was among those who were hesitant regarding this new (exterior-only) appraisal product
Just as some properties are not good candidates for exterior-only appraisals, many properties are not good candidates for a DeskTop Appraisal. Much of this has to do with too many unknowns regarding the subject property.
I understand that there are many geographic areas where it is necessary for the appraiser to go to the courthouse (etc.) in order to obtain and/or verifiy data. That's a problem when one is doing a non-inspection appraisal (i.e., if you have to go the courhouse, you may as well go look at the subject).
Other areas--notably, the areas in which I work--have good on-line public record information plus a good MLS system.
ANY appraisal in the hands of an unethical and/or incompetent appraiser will very likely not be a good appraisal. The unethical and/or incompetent appraiser is more the problem than any appraisal product that you and I may be discussing here.
As to fees, we all may accept or reject any fee offered to us. Similarly, we all may accept or reject any appraisal assignment.
I now have one client who on rare occasion requests a DeskTop Appraisal. Some times I am able to complete the assignment and some times we upgrade the assignment.
We all have decisions to make.
Lee Lansford, IFA
AQB Certified USPAP Instructor
I admit, to at least some degree, I was among those who were hesitant regarding this new (exterior-only) appraisal product
Just as some properties are not good candidates for exterior-only appraisals, many properties are not good candidates for a DeskTop Appraisal. Much of this has to do with too many unknowns regarding the subject property.
I understand that there are many geographic areas where it is necessary for the appraiser to go to the courthouse (etc.) in order to obtain and/or verifiy data. That's a problem when one is doing a non-inspection appraisal (i.e., if you have to go the courhouse, you may as well go look at the subject).
Other areas--notably, the areas in which I work--have good on-line public record information plus a good MLS system.
ANY appraisal in the hands of an unethical and/or incompetent appraiser will very likely not be a good appraisal. The unethical and/or incompetent appraiser is more the problem than any appraisal product that you and I may be discussing here.
As to fees, we all may accept or reject any fee offered to us. Similarly, we all may accept or reject any appraisal assignment.
I now have one client who on rare occasion requests a DeskTop Appraisal. Some times I am able to complete the assignment and some times we upgrade the assignment.
We all have decisions to make.
Lee Lansford, IFA
AQB Certified USPAP Instructor
Carnivore
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
Lee,
I understand what you are saying but I really dont intirely agree. I believe the hesitation was more because the rules at the time did not allow enough freedom to conduct an appraisal in such a limited way. For that matter, USPAP being the appraisers bible, does incorporate the caveat of what other appraisers would similarly do in your market area. Someone I suppose had to be first. It certainly was not me, because the rules were rather unclear as they evolved.
Dont get me wrong I fully embrace the flexibility of the current USPAP.
Jeff Horton
Senior Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Alabama
I just finished my third one. On a narrative form I created. I love them but I change a hell of lot more than $50. I use these for individuals that just want to know a value of the house. Not for lenders but I would. But they wouldn't accept my narrative nor pay my price.
There is a place and a way to do these.
There is a place and a way to do these.
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