Interior photos

[Kendall Jackson]

I know this topic has been diccussed at length in the past.

I am working on a field review and there are interior photos.
The report is for a refie of an owner occupied home, the pictures clearly show a vacant home, plus whne I do my field iinspection I may have to be nosey.
I love interior photos....
trust me this is not the only glaring mistake..

 

[Restrain]

If the box is checked "owner" and it's "vacant", can just be a typo or error from a "clone". Honestly, such items are minor, IMHO.

Is the physical nature of the subject and site properly analyzed? Are the comps verifiable and appropriate?

These are the two major review points. Everything else becomes secondary. You can do everything else right and misrep the subject and sales and have a lousy appraisal. You can do everything else wrong, but get the subject and sales right, and have an acceptable appraisal.

 

[Mr Rex]

Maybe the furniture is at the cleaners. Was the report done on a Tuesday?

On a side note, how many owner occupied house have you been in with a card table in the Dining Room and a mattress on the floor in the Bedroom? Typically a BMW or Lexus or 2 in the garage. The only real sign of it being occupied are the pizza boxes and a closet full of clothes.

 

[Tom Woolford]

If other than a mis checked box, the report is credible, and the value supported, why make a big deal of it. Note that it is wrong, but appears to be a typo and move on.

 

[Tim Hicks (Texas)]

I see vacant homes marked "tenant" occupied on many appraisals I review. Fortunately, that is just the beginning of the long list of errors. It could be an honest mistake. It could be just more fuel for the review fire.

 

[Kendall Jackson]

Lets see there is no fridge, the basement doesnt even have a spec of dust on it, unfinished.
The subject is located at the corner of one of the busiest streets on this end of town. There is a city bus stop at the edge of the lawn, location not reported and photo doesnt show it. No adjustments for it, there are some upward site adjustments which I haven't looked into yet. Sale which occurred in 06 was recorded in an odd way with county but was there, not reported in report. $366 sale and now value $460 in a stable to declining mkt. Being vacant and checking owner is not a small typo...it enables the borrower a much better rate, its lying..
These problems jump out after about 5 minutes reading this POS report.
Ive done reviews as long as the duck and can spot a mistake or fuzzy math with my eyes half closed

 

[Kendall Jackson]

"we dont mind that traffic, after awhile you get use to it"

 

[Krystal Schware]

Most likely if it's been sent to you for review, the lender is aware of many of the deficiencies you've pointed out.
I know in my area, with the market slowing, we have quite a few appraisers who have been dubbed the title of the "hit the number lady" etc. With things being slower right now, they will do whatever it takes to complete the appraisal and get paid....and turn a blind eye to items they should be hung out to dry for.

 

[Damon Pedersen]

Dang you Kendall,
We all know you sat there all day until two cars and a bus came into view of the camera and then snapped the photo.

 

[Anita Rimer]

All that work your doing and you are probably not getting paid as much as the original appraiser.

I've always said that reviews should be double the fee.



I'm surprised the original appraiser would include interior photos if it's obviously vacant and he/she marks owner occupied.