First Hybrid request.

[Airstream]

Amazing how timely things are. I stated on the forum I hadn’t done a hybrid, and today I get asked to bid on one. I bid $600. You can tell I really didn’t want to do it. Whoever did the inspection took horrible photos. Couldn’t see the condition of the roof, the siding, the windows, etc. And when I looked at what I could see it didn’t look good. Flooring looked stained and worn. Yet no mention of it as a deficiency in the data collected. One wonders what else he didn’t point out.

When we sign these things THE APPRAISER becomes responsible for the content of the report. I’m not going to depend upon an unknown third party.

Again this is a way for lenders to get by cheap. Pay some flunky $75 to do a half cocked job (pay for what you get), and hang the appraiser with a cheap fee and the liability. NO THANKS.

 

[Mike Ault]

Amazing how timely things are. I stated on the forum I hadn’t done a hybrid, and today I get asked to bid on one. I bid $600. You can tell I really didn’t want to do it. Whoever did the inspection took horrible photos. Couldn’t see the condition of the roof, the siding, the windows, etc. And when I looked at what I could see it didn’t look good. Flooring looked stained and worn. Yet no mention of it as a deficiency in the data collected. One wonders what else he didn’t point out.

When we sign these things THE APPRAISER becomes responsible for the content of the report. I’m not going to depend upon an unknown third party.

Again this is a way for lenders to get by cheap. Pay some flunky $75 to do a half cocked job (pay for what you get), and hang the appraiser with a cheap fee and the liability. NO THANKS.

Let us know if they accept your bid!

 

[Trihard]

Amazing how timely things are. I stated on the forum I hadn’t done a hybrid, and today I get asked to bid on one. I bid $600. You can tell I really didn’t want to do it. Whoever did the inspection took horrible photos. Couldn’t see the condition of the roof, the siding, the windows, etc. And when I looked at what I could see it didn’t look good. Flooring looked stained and worn. Yet no mention of it as a deficiency in the data collected. One wonders what else he didn’t point out.

When we sign these things THE APPRAISER becomes responsible for the content of the report. I’m not going to depend upon an unknown third party.

Again this is a way for lenders to get by cheap. Pay some flunky $75 to do a half cocked job (pay for what you get), and hang the appraiser with a cheap fee and the liability. NO THANKS.

This profession is going to hell in a hand basket. The AMC's, GSE's and lenders know exactly what they are doing. Zero liability to them. 100% liability on the appraiser along with the reduced fee.

 

[Surf Cat]

Couldn’t see the condition of the roof, the siding, the windows, etc. And when I looked at what I could see it didn’t look good. Flooring looked stained and worn. Yet no mention of it as a deficiency in the data collected. One wonders what else he didn’t point out.

I've never done a hybrid however, one of my mentors has done a few.... your description sounds just like his experiences. He no longer does them.

 

[Jayjay25]

increased liability = increased fee. And don’t forget your base fee includes health insurance, sick time, vacation time and retirement on top of all other business expenses. Know your worth and don’t sell yourself short

 

[chad hampton]

That's usually what you see. Another example of why the claim from the snake oil guys that you're getting a thorough inspection is ridiculous. You have to live in fantasyland to think you get something for nothing. These guys have all been in the office for too long. Living in the world of theory, not reality.

That's why they are all scratching their heads wondering why no one, not even the mtg brokers/lenders want these things.

I got sent 3 many years ago. They were all junk. My favorite was a manufactured home on well and septic that was sent to me as a single-family home on public utilities. I didn't look any deeper into what else they had wrong.

My mentor told me 25 years ago, the inspection is a critical part of this job and one that most will struggle to get right. I've found that to be true.

 

[alebrewer]

According to DW, the quality of the PDR surpasses the quality of inspections performed by appraisers.

 

[George Hatch]

Amazing how timely things are. I stated on the forum I hadn’t done a hybrid, and today I get asked to bid on one. I bid $600. You can tell I really didn’t want to do it. Whoever did the inspection took horrible photos. Couldn’t see the condition of the roof, the siding, the windows, etc. And when I looked at what I could see it didn’t look good. Flooring looked stained and worn. Yet no mention of it as a deficiency in the data collected. One wonders what else he didn’t point out.

When we sign these things THE APPRAISER becomes responsible for the content of the report. I’m not going to depend upon an unknown third party.

Again this is a way for lenders to get by cheap. Pay some flunky $75 to do a half cocked job (pay for what you get), and hang the appraiser with a cheap fee and the liability. NO THANKS.

The appraiser is responsible for the opinions and conclusions they developed during the assignment. Not for the quality of the photos or the completeness of the description they're using to develop those opinions and conclusions. If you can see in the pics that there are problems with the property attributes then its on you to proceed on what you can see.

If you think the accuracy of the information being provided is inadequate then you're supposed to withdraw from the assignment. That responsibility is on you. There is no dodge for the assertion the appraiser in every appraisal report they sign, which starts with the phrase

"To the best of my knowledge and belief".....​

You either act as such or you don't.

The only way a lender or some vendor becomes aware of a quality problem with their PDR is if those reports get rejected by the appraisers for being inadequate.

 

[J Grant]

I bet if appraisers give either no discount off their regular fee , or only a small discount such as $50, the hybrid products would disappear- let the captive staff appraisers do them if it means a low fee.

 

[Airstream]

The appraiser is responsible for the opinions and conclusions they developed during the assignment. Not for the quality of the photos or the completeness of the description they're using to develop those opinions and conclusions. If you can see in the pics that there are problems with the property attributes then its on you to proceed on what you can see.

If you think the accuracy of the information being provided is inadequate then you're supposed to withdraw from the assignment. That responsibility is on you. There is no dodge for the assertion the appraiser in every appraisal report they sign, which starts with the phrase

"To the best of my knowledge and belief".....​

You either act as such or you don't.

The only way a lender or some vendor becomes aware of a quality problem with their PDR is if those reports get rejected by the appraisers for being inadequate.

I let them know the quality of the inspection. Wrote a response to the request detailing the issues.