Hybrid appraisal report

[David S]

As I understand it, you select the comps, you do the analysis and you make the comparisons. As for where to provide your disclosures as to who did what, the top half of pg 3 of the form has all the room you need to say what you have to say. And the cert #2 on pg 5 reiterates that you didn't inspect.

View attachment 91093

Thanks!

Which date will be the Effective Date of Appraisal? The person did PDC or the date I received the PDC file? It might have a couple of days gap, like if the person did PDC yesterday Friday, then AMC supply me the PDC file next Monday? Which will set my comps selection cut off date.

 

[Dublin ohio]

Thanks!

Which date will be the Effective Date of Appraisal? The person did PDC or the date I received the PDC file? It might have a couple of days gap, like if the person did PDC yesterday Friday, then AMC supply me the PDC file next Monday? Which will set my comps selection cut off date.

If it is a Fannie hybrid the effective date and report date are the same

 

[David S]

Sorry, just came back from the inspection, not for this Hybrid. Thanks all for the comments. I might turn it down. They said there will be another senior appraiser guide me through at the first time via zoom. I shall select the comps which I already pull out. Since it was just sold a few months ago. The old appraisal report appraised at sold price. Right now the comp support around that price. Fee is very low. They said only need a couple of hours, But I already spent a couple of hours for the comps already. I think if I can't make $50 hourly rate, I can't take it. Otherwise like another OP said we are become min wage job.

 

[J Grant]

Thanks!

Which date will be the Effective Date of Appraisal? The person did PDC or the date I received the PDC file? It might have a couple of days gap, like if the person did PDC yesterday Friday, then AMC supply me the PDC file next Monday? Which will set my comps selection cut off date.

Idk, but since the person doing the CDC is not you,, then for you, as the appraiser, it would seem the effective date is when you start working on the appraisal. But that is just my opinion,.

Years ago, I did try online desktop appraisals and, after completing a grand total of three, stopped accepting them. The fee back then was low too, and they said it would take 45 minutes - it took me three hours to pull comps and use some modicum of due diligence. Plus I hated it. Perhaps there are people who can knock these out fast, but I wasn't one of them.

 

[shrubberyvaluation]

Its true the PDC is a disinterested party in most cases, but without liability there is also a lack in interest in doing a good job and/or reporting anything negative that might require more work.

 

[David S]

Idk, but since the person doing the CDC is not you,, then for you, as the appraiser, it would seem the effective date is when you start working on the appraisal. But that is just my opinion,.

Years ago, I did try online desktop appraisals and, after completing a grand total of three, stopped accepting them. The fee back then was low too, and they said it would take 45 minutes - it took me three hours to pull comps and use some modicum of due diligence. Plus I hated it. Perhaps there are people who can knock these out fast, but I wasn't one of them.

Oh, last year one AMC let me do a desktop assignment. They load all subject information on their website , no picture, no sketch, with about 10 comps there. The only things I have to do is to double verify the subject characters with MLS and public record, SELECT 3 or 5 comps from THEIR list. I can't add / replace any comp from their list, then do the grid adjustment on my own. Only $200 fee. When I was working in the middle, their system is frozen and crashed. Then, cancelled this order. End with I didn't get any penny. That's why I am wondering what's the difference between desktop and hybrid?

 

[shrubberyvaluation]

Oh, last year one AMC let me do a desktop assignment. They load all subject information on their website , no picture, no sketch, with about 10 comps there. The only things I have to do is to double verify the subject characters with MLS and public record, SELECT 3 or 5 comps from THEIR list. I can't add / replace any comp from their list, then do the grid adjustment on my own. Only $200 fee. When I was working in the middle, their system is frozen and crashed. Then, cancelled this order. End with I didn't get any penny. That's why I am wondering what's the difference between desktop and hybrid?

That doesn't sound like an acceptable assignment condition to limit comp selection.

 

[TC]

Who vets them? What real estate agents and insurance inspectors are trained to collect the data we need?

I would think both would be good candidates. Seriously, how long does it take to learn? It ain't rocket surgery.

 

[shrubberyvaluation]

I would think both would be good candidates. Seriously, how long does it take to learn? It ain't rocket surgery.

There are agents with decades of experience I wouldn't trust my license for their inspection and the ones doing this for $20 probably have no experience to very little as they would rather sell houses. What does their training consist of? Probably just using the app and using it on their own house

 

[Tiffany Gibbons]

Any particulars of the form aside, this is just like a regular appraisal; the appraiser is responsible for the comps, analysis, and value. Therefore the discount for not inspecting should not be that large,, IMO. The only difference is now, instead of you inspecting, they sent a nonappraiser out. Now you have your info secondhand.

On the plus side, you will receive extensive photos and some basic notes on materials and appliances present etc, plus a floorplan ( typically)
The form should include a statement that you are not responsible for the inspection, or you can add your own statement.

And if you did the inspection, you probably would have already been done by now, but "appraisal modernization" is so much faster, eh?