Hybrid and Desktop Inspectors

[DWiley]

I know. It’s confusing, as I thought the whole desktop concept would not involve any inspection, yet, FNMA requires the floor plan with interior walls. Head scratching stuff. Lol

How is the FloorPlan different from other requirements like a front photo? Where would the photos come from? The photos and the FloorPlan will come from sources other than the appraiser. And as the FAQs state, if not available then convert to traditional approach.

What confuses me is why appraisers seem so up on arms about the FloorPlan requirement. If the appraiser is not inspecting would a FloorPlan not be very useful ?

 

[Dale Floyd]

How is the FloorPlan different from other requirements like a front photo? Where would the photos come from? The photos and the FloorPlan will come from sources other than the appraiser. And as the FAQs state, if not available then convert to traditional approach.

What confuses me is why appraisers seem so up on arms about the FloorPlan requirement. If the appraiser is not inspecting would a FloorPlan not be very useful ?

This appraiser is not up in arms at all. Actually, I’m thrilled with that requirement for the desktop product.

The more data I receive, the better. Always felt the same about construction appraisals involving plans and specs, and see these in a similar light with a noted exception of the EO/HC being disallowed.

You misunderstood my post. I think some will be confused with a desktop and ultimately a hybrid being different since both will include 3rd party inspection information.

 

[shrubberyvaluation]

Idk, they might just be using the word as an umbrella term - but who thought it was a good idea to turn a bunch of Realtors loose to inspect houses - they will be leaving business cards, trolling for listings , giving opinions what they think it is worth _ RE agents or Realtors are going to use these inspections as marketing opportunities, the puny fee for a drudge inspection is of less interest.

What happens if they add on to the measurements or overlook deferred maintenance hoping to get business in the future or a referral. Will we be sued for if it goes into foreclosure?

 

[shrubberyvaluation]

The appraiser does not inspect merely to gather information, but also to form first hand impressions, observations, judgements ( and can get info from participants onsite )

The appraiser has long been able to get information via a third party, a trainee or RE agent or other, but it has been prohibited by many clients/users. Now suddenly it is allowed. Even in a traditional appraisal where appraiser inspects, yes they relied on additional third party data , but that still did not replace their own personal inspection.

Personally, as an appraiser who wants to semi retire within next few years, not inspecting so much can work well for me. But overall I think it will not work well for the profession - how it plays out in large scale use wrt to participants or agents having issues or not as efficient as the users hope -remains to unseen !

Doesn't that all fall under the realm of gathering information? Are you forming first hand impressions devoid of the information you gather?

 

[shrubberyvaluation]

How is the FloorPlan different from other requirements like a front photo? Where would the photos come from? The photos and the FloorPlan will come from sources other than the appraiser. And as the FAQs state, if not available then convert to traditional approach.

What confuses me is why appraisers seem so up on arms about the FloorPlan requirement. If the appraiser is not inspecting would a FloorPlan not be very useful ?

Floor plan is useful for functional utility.

 

[shrubberyvaluation]

For the desktops, will the lender procure the floor plan?
Or will appraiser be stuck doing it ? Is the Appraiser expected to direct an owner over an iphone app to measure and photo their own house or condo ?

Just make sure you verify all that info with a third party.

 

[shrubberyvaluation]

if you sit at a desk then you are no better or worse then an avm.

I disagree, I have seen crap AVMs that someone with basic appraisal training could provide more credible results without even having geographical competence.

 

[Dale Floyd]

if you sit at a desk then you are no better or worse then an avm.

I don’t think that’s true In all cases.

In my mind, it‘s really similar to your trainee doing an inspection solo and you helping with the analysis at the office. I would trust you because you are highly skilled and certified. If the inspection is truly quality work, and you are competent in the area, the ultimate result would be much greater than an AVM wouldn’t it?

 

[djd09]

they are waiving appraisals. the LO estimates value probably using an AVM (ACE) as documentation. free and a push button away. and so much more... Are you better then them?

 

[Dale Floyd]

they are waiving appraisals. the LO estimates value probably using an AVM (ACE) as documentation. free and a push button away. and so much more... Are you better then them?

Of course - Any appraiser doing an analysis based on any type of data is going to be better than your hypothetical. Perhaps this will give an alternative to your scenario.

To be clear - I‘m not in banking anymore, and I can’t answer as to what or how they operate.