Drivebys

[OSU Beavers]

Only "Repo" Drive-Bys.

 

[DWiley]

Not sure why I need to chime. The GSE requirements are printed right on the 2055, and they have been there since 2005.

 

[Mike Kennedy]

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[JeffSH]

I was trained to do driveby appraisals without knowing the interior condition, but I don't do that anymore. I have the owner send me pictures or get the information from any source I can. I'll even peek into the windows and knock on the door if I have to.

Most of my clients require that I detail how I verified the interior condition. It was not like that when I started.

 

[glenn walker]

For lending purposes, no.

For legal purposes and some redevelopment scenarios, where access is not possible, yes. In those scenarios I can spell out the appropriate assumptions and/or hypothetical conditions, without restriction.

Not on a Fannie-Mae-Freddie Mac or FHA : )

 

[glenn walker]

Because t

Not sure why I need to chime. The GSE requirements are printed right on the 2055, and they have been there since 2005.

Because they never read-the certification : ) LMAO

 

[Fernando]

With Covid, I felt the lenders put "higher" level on appraisers to determine the interior of the drivebys.
Thus during the pandemic, I ask the owner and even try to peek through the windows (of course letting owner know) to confirm the condition.
Fernando does what it takes if lenders ask for interior condition.

 

[Joyce Potts]

I've read the limiting conditions and certifications all the time. For some, it may be crystal clear. For others, especially lenders ordering drivebys where there is no prior MLS or other 'adequate information about the physical characteristics (including, but not limited to, CONDITION, room count, GLA, etc.) both those ordering and appraisers that do them seem to have a different interpretation. And that was the point of the post to begin with - to get peer input.

So if you turn a lender down because you don't feel you have 'adequate' information to rely on as referenced above, the lender continues to argue and pressure with you, does the appraiser have recourse?

 

[Flakey]

Your recourse is USPAP. Standard Rule 1-2(h). determine the scope of work necessary to produce credible assignment results in accordance with the SCOPE OF WORK RULE. AO-19 - Unacceptable assignment conditions.

 

[Joyce Potts]

Your recourse is USPAP. Standard Rule 1-2(h). determine the scope of work necessary to produce credible assignment results in accordance with the SCOPE OF WORK RULE. AO-19 - Unacceptable assignment conditions.

Since when are lenders required to comply with USPAP?