I'm Conflicted - Should I Do These Reports?

[VolcanoLvr]

Kid needs braces. About a $5K hit to the family budget.
Lender has a huge bunch of enhanced 'desktop' appraisals I can do, for $75 each.
I can let "anyone" do the drive-by, photos, and write comments about the subject property and neighborhood area, which will then be provided to me, via a web site. "Anyone" will only be identified by name only, and if lucky a phone number for that person. I don't know who "anyone" is.
I will then select comparable/competitive properties based on the subject info "anyone" provided, enter them into a grid, make adjustments, sign and deliver this 'desktop' report. About an hour at my desk for each one I do.
Best thing about these is I can do them in my PJ's. 5-8 per day according to the lender.
But should I do these?
Gad, such easy money to pay for the braces. However, something is making me nervous in my gut.
Should I be concerned about my compliance with USPAP, or just tell the lender I'll do these 'desktop' reports for them?

 

[Randolph Kinney]

It's a business decision. You are obligated to comply with USPAP in any and all cases of your appraisal practice.

 

[Meandering]

Yes you should be concerned about your compliance with USPAP.
And while you can do them in compliance with USPAP, so long as you can write the name of the "inspector" in the certification, blah, blah, blah, you miss the bigger questions.

Once you start can you stop?
How long will the volume last before you find yourself trying to survive on only one or two of these a day?

You can't feed the monster and then cry when the monster eats you.

.

 

[J Grant]

Kid needs braces. About a $5K hit to the family budget.
Lender has a huge bunch of enhanced 'desktop' appraisals I can do, for $75 each.
I can let "anyone" do the drive-by, photos, and write comments about the subject property and neighborhood area, which will then be provided to me, via a web site. "Anyone" will only be identified by name only, and if lucky a phone number for that person. I don't know who "anyone" is.
I will then select comparable/competitive properties based on the subject info "anyone" provided, enter them into a grid, make adjustments, sign and deliver this 'desktop' report. About an hour at my desk for each one I do.
Best thing about these is I can do them in my PJ's. 5-8 per day according to the lender.
But should I do these?
Gad, such easy money to pay for the braces. However, something is making me nervous in my gut.
Should I be concerned about my compliance with USPAP, or just tell the lender I'll do these 'desktop' reports for them?

Are these local properties where you will have area knowledge, or out of state properties anywhere in the country? If they are local properties in areas where you are familiar with, I would recommend doing them. If out of state I personally would not be comfortable doing them. USPAP references keeping a work file from which an appraisal can be developed, so if the desktop report is lean and your work file records are good imo the product is credible. My advice is to take the work and if after you start it the process makes you uncomfortable, you can always decline the work at that point.

These sound more like a bifurcated appraisal on a proprietary form rather than a desktop. Just because you as the appraiser stays at your desk does not make them a "desktop" product, since an inspection of the property was done . If the inspector only drives by the limitation is similar to a 2055 form . If a particular property needs it, are you as appraiser allowed to recommend upgrading to full interior inspection?

A lot about this kind of appraising can depend on the client, if int upgrades are allowed, what kind of turn time expected, how well their software works. Which you won't know until you accept the work and start doing them.

 

[DTB]

Yes you should be concerned about your compliance with USPAP.
And while you can do them in compliance with USPAP, so long as you can write the name of the "inspector" in the certification, blah, blah, blah, you miss the bigger questions.

Once you start can you stop?
How long will the volume last before you find yourself trying to survive on only one or two of these a day?

You can't feed the monster and then cry when the monster eats you.

.

Let the monster feed you, then switch monsters.

https://appraisersforum.com/forums/...-make-extra-income.218436/page-3#post-2801429

 

[Meandering]

Let the monster feed you, then switch monsters.

https://appraisersforum.com/forums/...-make-extra-income.218436/page-3#post-2801429

Once you addict them to paying appraisers $60 for an appraisal, you think their competition will agree to pay appraisers $600 when volume drops???



.

 

[ucbruin]

I tried my 1st one last week...
While I'm not conflicted...
I'm not sure I'll want to do them often...

 

[Tom D]

well. i do a lot of pre foreclosures drive by. i live in a big city so these are only 15 minutes away. but even with that little 'get to time' for subject & comp photos i'm only doing 2 a day. now i'm getting paid pretty decently, i don't know how they make money doing the burbs, or rural ones. anyway, 2 a day, but my reports are in the 40 page report because of USPAP, and the state axe on your neck. in your case, you better have a list of 'extraordinary assumptions' in your report. at this point in time you can put a number on a napkin for $75, but your work file better look like a $600 appraisal.

your financial problems may cause you to do something 'dumb' cause you need the money. Most problems come from doing what you shouldn't because of certain issues. however, i've been to a desperate point a couple of times, so i am not criticizing the choice you are thinking of.

sitting in front of the computer all day can become a drain on your '8 report a day' brain. sounds like a factory 'on the line' job. i cant do those drive by appraisals 5 days, or more, a week. start forgetting what day it is.

 

[DTB]

Once you addict them to paying appraisers $60 for an appraisal, you think their competition will agree to pay appraisers $600 when volume drops???



.

No, but I wouldn't care either.

If one can make $$ doing them while learning alternative ways to make $$...I don't see a problem, do you?

 

[glenn walker]

If I needed the $5K absolutely or set up a "go fund me account " maybe some concerned appraisers can help you come up with the $5K --If not there are plenty of us here ready to scare you with USPAP stories