Drivebys

[Joyce Potts]

How many appraisers are doing drivebys on properties that have no prior MLS or other documentation on which to rely on, but are solely relying on the exterior condition and making the assumption that the interior condition and quality is similar to the exterior condition and quality?

 

[Dublin ohio]

How many appraisers are doing drivebys on properties that have no prior MLS or other documentation on which to rely on, but are solely relying on the exterior condition and making the assumption that the interior condition and quality is similar to the exterior condition and quality?

Never

 

[TerryRohrer]

I will do those in the case of a pre-foreclosure and similar situations only, and have an extensive assumption about what I assume about the interior and structural soundness and what I assume about which sales are most competitive with and comparable to the subject. These do not have to meet FNMA requirements precluding the use of extraordinary assumptions. For other purposes, I will not do them without specific information (preferably MLS listing photos) regarding the interior condition and updates.

 

[glenn walker]

How many appraisers are doing drivebys on properties that have no prior MLS or other documentation on which to rely on, but are solely relying on the exterior condition and making the assumption that the interior condition and quality is similar to the exterior condition and quality?

Today the appraiser can get interior photos provided by borrower-or other party and do a exterior and we know hundreds of thousands of those have already been done under Covid-19 . As FAR AS how many do them with no interior photos or MLS ?? --Thousands but nobody is ever going to admit it and frankly its not a big issue when-most homes go into default the owners tear them up and trash them anyway so that C-3 goes quickly down to a Low C-4 or a C-5 : LMAO

 

[Terrel L. Shields]

How many appraisers

Too many

 

[Joyce Potts]

Today the appraiser can get interior photos provided by borrower-or other party and do a exterior and we know hundreds of thousands of those have already been done under Covid-19 . As FAR AS how many do them with no interior photos or MLS ?? --Thousands but nobody is ever going to admit it and frankly its not a big issue when-most homes go into default the owners tear them up and trash them anyway so that C-3 goes quickly down to a Low C-4 or a C-5 : LMAO

For the sake of this hypothetical argument, the lender did not offer any prior appraisals, photographs, permission to contact the owner, no prior MLS, etc. The only basis they wanted the driveby done on, were two exterior photos that are accessible via the county property appraiser website. That's it. So please, lets stop adding all kinds of potential 'what if's'. It's a straight-forward question.

 

[J Grant]

The only time I did it, years ago, were pre foreclosure with no entry possible. Made me uncofmortable if no recent MLS photos avail so I stopped doing them. But given the limittions of the assignment, if you want to assume an avg condtion or no major repairs or adverse conditions are present , then they can;t fault you on it if turns up different.

 

[Joyce Potts]

The only time I did it, years ago, were pre foreclosure with no entry possible. Made me uncofmortable if no recent MLS photos avail so I stopped doing them. But given the limittions of the assignment, if you want to assume an avg condtion or no major repairs or adverse conditions are present , then they can;t fault you on it if turns up different.

Wanna bet?

 

[TerryRohrer]

Wanna bet?

So who is faulting whom, and what is their complaint or rationale?

 

[Joyce Potts]

At this stage, I'm looking for 'peer' input. What difference does it make in terms of the original question?