How often do you do Exterior only inspections?

[Mike Kennedy]

The responsibility for the SOW decision rests squarely on the shoulders of the Appraiser. "they made me do it" 2-3 years later is no excuse.


"An appraiser must not allow assignment conditions to limit the scope of work to such a degree that the assignment results are not credible in the context of the intended use.

Comment: If relevant information is not available because of assignment conditions that limit research opportunities (such as conditions that place limitations on inspection or information gathering), an appraiser must withdraw from the assignment unless the appraiser can:​

modify the assignment conditions to expand the scope of work to include gathering the information; or use an extraordinary assumption about such information, if credible assignment results can still be developed." *( A huge "if" )​

An appraiser must not allow the intended use of an assignment or a client’s objectives to cause the assignment results to be biased."​

p.s. I suggest "we just need a number and REALLLLLLY don't wanna know what condition the house is REALLLLY in ......." does NOT reflect the actions of "Typical, Local, Buyers" and is insufficient justification for NOT escalating a Mortgage Finance Appraisal to Interior & Exterior. Hence the work-file retention AND E&O insurance requirement by Banks exist.​

p.s. My Vote: what's a drive-by? want my name and E&O, get me inside and let ME measure a house (especially on mortgage lending assignments).​

 

[Riick]

I do 99.9999% of them for REOs, no real liability problem, since within a month, I'll see them again as foreclosures.

 

[Blueprint]

Am willing to do them for the right price and proper SOW. I turned down a retrospective 2055 last week as the client absolutely required the 2005 form which states the date of inspection as the effective date of appraisal. I know many appraiser would just ignore that, but it is tough for me as I am straightforward always.
These ridiculous 2005 form requirements by lenders today frankly have got to go in my humble opinion. All it is doing is hurting the industry. Sadly, it is so easy to ignore truth in our industry. Appraisers need the freedom back of developing proper scopes of work as needed.

 

[Riick]

I turned down a retrospective 2055 last week as the client absolutely required the 2005 form which states the date of inspection as the effective date of appraisal.

Despite anything to the contrary, in the pre-printed sections of this
form report, the client & the appraiser have agreed that the effective
date of this retrospective appraisal is *not* the date of the appraiser's inspection.
In addition, any other user of this report,
whether intended or unintended,
shall be deemed to have expressly agreed to the aforesaid,
by virtue of their use of this report.

 

[BlackLabs]

Last month I did 13, but average about 15-20 per month. I have one lender that orders them for low LTV. I have recommended upgrades to full appraisals on many ocassions, with which they have no problem. At $200 per, I almost prefer to do those. Easier to schedule and type.

 

[TX ladybug]

Last month I did 13, but average about 15-20 per month. I have one lender that orders them for low LTV. I have recommended upgrades to full appraisals on many ocassions, with which they have no problem. At $200 per, I almost prefer to do those. Easier to schedule and type.

Wow you are doing that many appraisal in a month? Can I come work for you?

 

[Terrel L. Shields]

All my vacant lot appraisals & land appraisals are drive-by. Most of my mineral appraisals, I don't even do that...sorry, I can't see 4,000 feet down into the dirt. We intend to interior inspect everything else however, but I don't bother to look in well houses, etc. And for poultry farms, some of the most biosecure ones require me to go to the Integrator's office, shower, change into their clothes while they spray my truck with a disinfectant, go to the inspection, and repeat the process...sux. One integrator will not even allow that, so I give the owner a waterproof disposable camera, which he/she sprays with disinfectant, takes interior pix, and returns the camera to me. I charge by the hour btw, and those last two are generally 4 or more hours just to inspect.

 

[PeterPetrelli]

Rarely. One a month would probably be pushing it.

 

[DMZwerg]

Very few ... maybe 1-2 per year.
Even then I put a statement in if I feel an interior inspection is warranted (which I usually feel is the case).


Funny thing is, I do more REOs than exteriors ... significantly more. I have done a number of REOs already this year alone.