Drive By vs Interior Inspection

[Jo Ann Meyer Stratton]

Terrel:

I attempt to obtain as much information as possible from assessor's records, MLS or FSBO information I have collected through the years, driving around the subject from every and any angle I can, talk to owners, neighbors, distant relatives, I have even called relatives of former owners or neighbors that live out of state at times, etc, etc. But which specific line(s) or page(s) in USPAP are you referring to?

 

[Doug in NC]

I still like the stance that a driveby should only be done when it is not possible to enter the interior (ie. foreclosure, home has burned down, etc.). I understood clearly when I should do a driveby and when I should not. At one point this seemed to be the position of the North Carolina Appraisal Board, but it has since changed. Apparently national lender pressure caused them to adjust their position on the issue.

Now, I occasionally get a request for a driveby appraisal. I try to charge very close to interior inspection appraisal fees so that the drivebys will be discouraged. Unfortunately, some appraisers have slashed away at their fees seeing this as an opportunity to pick up some volume (Whatever the lender wants, give it to 'em). I hope their next competitor is an AVM- I wonder if they will be willing to do appraisals for $50?