How Many Double Check Sketch Before Leaving Property

[Joe Flacco]

Yeah, GLA is specific, isn't it? 12 SF error is not gross enough to be sued over, but it should be a warning the appraiser is not competent or is error prone.

did you notice there was a bigger difference in the total GLA that 12 SF?

Third party sketch is bad. It was just funny that including the fireplace bump out was a reason that we are screwed.

 

[Joe Flacco]

wtf are those little notches to the side of the big dormer over the garage?

 

[Randolph Kinney]

Third party sketch is bad. It was just funny that including the fireplace bump out was a reason that we are screwed.

Actually, the difference is 2,822.68 SF versus 2,977.4 SF or 154.72 SF which indicates someone was really off on their measurement. My guess is the guy who included the fireplace made additional errors. Depending on the SF adjustment factor that could be $8,000 or higher.

 

[Joe Flacco]

Actually, the difference is 2,822.68 SF versus 2,977.4 SF or 154.72 SF which indicates someone was really off on their measurement. My guess is the guy who included the fireplace made additional errors. Depending on the SF adjustment factor that could be $8,000 or higher.

It is obvious the third party sketch has errors.

 

[Joe Flacco]

Maybe they both have errors. That dig Dormer above the garage is a few feet short of the end of the garage but the first sketch has it going to the edge. The second sketch looks like it is too short.

Edit: nevermind. The first sketch levels are just not lined up. Looks like the first sketch is good.

 

[Joe Flacco]

The first thing you do before you measure anything is understand how the comparables structure size are calculated.

 

[chad hampton]

Looks like the difference in that sketch is someone measured the 1st floor right wall at 26' and the other at 28'. I also don't think the 3rd party sketch squares up. Didn't check everything though.

I can hardly wait till be get 3rd party "everything" sent to us. What could go wrong? But then again, I expect that idiotic idea to come and go faster than lightning.

 

[ucbruin]

Not excusing major errors....
Comp data typically, if not always, based on 3rd party inspections....

 

[chad hampton]

I find plenty of comp/listing GLA these days to be based off of prior appraisals. It's a violation to use public records GLA. Doesn't mean agents don't still do it, but they aren't supposed to.

 

[Peter LeQuire]

I tell homeowners that the home "grows" after being built. It is also another way to juice the appraised value to meet the contract price.

Lenders know this. They use to order the appraisal at the front-end and now they wait to the very last minute....They know if they wait, the market can catch up to the contract price in markets that are increasing (or if the home is over priced). Also, appraisers can now use the larger GLA from the finished home and make upward adjustments.

For slabs, the CAD goes to the slab. The appraiser should measure to the exterior wall, which accounts for 50-75 sqft increase in sqft. Now if the appraiser uses the vertical trim piece, the sqft increases even more.

Seems to me an appraiser ought to anticipate the width of the exterior siding (including any sheathing) in her GLA calculation, assuming she has obtained information about finish materials/specifications .

An appraiser also ought to verify the source of the living areas of the comparables used, and have the ability to account for how any difference might influence value/marketing/appeal of the subject and the comps.