Hybrid Appraisals

[Sadie]

I used to get that stip frequently. I always stated it was unknown. Of course, I was given no background on what to look for or that Chinese drywall smelled like burnt matches, or sulfur.

I wish the contractors that Trump ripped off would have put Chinese drywall in his hotels....

Maybe they did and that explains his recent actions?

 

[djd09]

Maybe the assets and credit history are off the chart....

the good ole mortgage brokers used to say that...dont worry about the appraisal they have great credit

 

[glenn walker]

There won't be a hybrid as the data collector inspection report will be a stand alone report. The hybrid in my opinion is just temporary Beta until enough data is collected to end the apprasers portion.

 

[djd09]

hybrids and waivers are like milli and vanilli...

 

[Surf Cat]

Nope, couldn't tell but there was Chan Ling fence outside

 

[Surf Cat]

the good ole mortgage brokers used to say that...dont worry about the appraisal they have great credit

That was code to add a rush fee on top of the appraisal fee....

 

[frogman]

All these posts about who is doing the inspection…. To be upfront I have accepted a few hybrids but have not completed one. 2 were from a big name AMC and 1 was from a no name AMC. The one from the no name was very interesting as the inspection was done by Proxy Pics, more on that later.

The problems with the inspection being done by a third party are numerous. 1st example would be a house on piers that has soft spots in the floor. 2nd example Noise. 3rd example Smell. As so on. Point being is the person who inspects the house would have to make a decision using judgement to determine these factors. Some examples of those questions that were on the PCR provided to me are as follows: Were any of the following easements or encroachments on the subject property present? Is subject property different to the other homes in the subject's immediate neighborhood? Are there any visible repairs needed that would discourage a buyer from purchasing or that would create an expected discount? These are just a few.

The problem for the AMC is that they can send you just a sketch with pics but no commentary or they can send you the Property Condition Report that includes a bunch of value-related judgments being made by someone other than the appraiser.

Statement of Limiting Conditions

CONTINGENT AND LIMITING CONDITIONS:

The data collector's certification that appears in this report is subject to the following conditions: 1. The data collector's will not be responsible for matters of a legal nature that affect either the subject property or the title to it.

2. The data collector will not give testimony or appear in court because of this assignment unless specific arrangements to do so have been made beforehand.

3. The data collector has noted in the report any observed adverse conditions (such as, but not limited to, needed repairs, the presence of hazardous wastes, toxic substances, pest infestation, structural problems, mechanical problems, or habitability issues) and makes no guarantees or warranties, expressed or implied, regarding any unobserved conditions. Because the data collector is not an expert in the field of environmental hazards, pests, structural integrity or mechanical systems, this report must not be considered as an environmental assessment, pest data collection, or engineering report.

4. The data collector obtained the information, estimates, and opinions that were expressed in this report from sources that he or she considers to be reliable and believes them to be true and correct. The data collector does not assume responsibility for the accuracy of such items furnished by other parties.

5. The data collector has noted the type of data collection completed in conjunction with this assignment. Third party data sources and providers may also have been relied upon for information regarding the physical characteristics of the property. Third party sources aiding the data collection have been identified by type in the comment section.

6. The data collector will not disclose the contents of this report to any individual or party other than the client or intended user, except as required by law or as directed by the client.

Data Collector? Looks like an Appraiser.

So, Hybrid Lovers what say you?

 

[Sadie]

All these posts about who is doing the inspection…. To be upfront I have accepted a few hybrids but have not completed one. 2 were from a big name AMC and 1 was from a no name AMC. The one from the no name was very interesting as the inspection was done by Proxy Pics, more on that later.

The problems with the inspection being done by a third party are numerous. 1st example would be a house on piers that has soft spots in the floor. 2nd example Noise. 3rd example Smell. As so on. Point being is the person who inspects the house would have to make a decision using judgement to determine these factors. Some examples of those questions that were on the PCR provided to me are as follows: Were any of the following easements or encroachments on the subject property present? Is subject property different to the other homes in the subject's immediate neighborhood? Are there any visible repairs needed that would discourage a buyer from purchasing or that would create an expected discount? These are just a few.

The problem for the AMC is that they can send you just a sketch with pics but no commentary or they can send you the Property Condition Report that includes a bunch of value-related judgments being made by someone other than the appraiser.

Statement of Limiting Conditions

CONTINGENT AND LIMITING CONDITIONS:

The data collector's certification that appears in this report is subject to the following conditions: 1. The data collector's will not be responsible for matters of a legal nature that affect either the subject property or the title to it.

2. The data collector will not give testimony or appear in court because of this assignment unless specific arrangements to do so have been made beforehand.

3. The data collector has noted in the report any observed adverse conditions (such as, but not limited to, needed repairs, the presence of hazardous wastes, toxic substances, pest infestation, structural problems, mechanical problems, or habitability issues) and makes no guarantees or warranties, expressed or implied, regarding any unobserved conditions. Because the data collector is not an expert in the field of environmental hazards, pests, structural integrity or mechanical systems, this report must not be considered as an environmental assessment, pest data collection, or engineering report.

4. The data collector obtained the information, estimates, and opinions that were expressed in this report from sources that he or she considers to be reliable and believes them to be true and correct. The data collector does not assume responsibility for the accuracy of such items furnished by other parties.

5. The data collector has noted the type of data collection completed in conjunction with this assignment. Third party data sources and providers may also have been relied upon for information regarding the physical characteristics of the property. Third party sources aiding the data collection have been identified by type in the comment section.

6. The data collector will not disclose the contents of this report to any individual or party other than the client or intended user, except as required by law or as directed by the client.

Data Collector? Looks like an Appraiser.

So, Hybrid Lovers what say you?

Thank you for the insight. A friend of mine did a couple and the PDC had incorrect SF, photos contradicting the commentary, and statements that were not factual. She was not allowed to change any of the information in the data report, just make commentary, For $75 and back to the client in 2 hours.

 

[chad hampton]

There's no doubt about it - a lot of opinions are developed during the appraisal inspection. But when you haven't performed an appraisal since Bush was in office, you forget a lot about the job.

Maybe these folks shouldn't be attending conferences giving advice on how to perform an appraisal?

 

[Alsie35]

There's no doubt about it - a lot of opinions are developed during the appraisal inspection. But when you haven't performed an appraisal since Bush was in office, you forget a lot about the job.

Maybe these folks shouldn't be attending conferences giving advice on how to perform an appraisal?

Which one - GHWB or GWB? You need to be more specific.