Exterior-Only Appraisal - Support for Quality & Condition Rating

[redfish]

FNMA had to release an update 3 months into the C-19 experiment because the appraisals they were getting were F---ed. If you can't complete a C-19 product without EAing everything under the sun, don't do them

 

[TMG]

Drive-bys are becoming more and more like full on 1004s. They want interior photos, etc, etc.

We need to put our collective feet down and start doing "drive-bys" again.

 

[Zoe]

If I don't feel comfortable going inside or homeowner don't want me going inside and I have reliable information for GLA and other physical characteristics, I tell homeowner when I am setting up the 2055 that I will need them to send me interior photographs and ask them about any deferred maintenance they are aware of. That's on a home equity line of credit or refi or purchase. On a foreclosure, the homeowner may not respond. So you need an EA there. If I can't get reliable info on physical characteristics, I don't do appraisals for home equity line, refi or purchase. I turn them down.

 

[Zoe]

Sometimes homeowner or lender will send you a copy of old appraisal with a sketch and homeowner will send you new photos taken by homeowner..

 

[Terrel L. Shields]

Lender wants support for Quality and Condition Rating through 'Realtor, MLS or Homeowner'.

I am assuming you are talking about the subject? Or the comps? You should be able to rely upon an observed effective age or simply the age (8 years) or are you referring to the comps?