Just got a quote request to complete a 1004D for a property we did NOT do the original appraisal on. How would that work? They said the original appraiser can't complete it.
Right sorry, I didn't not specify.Theoretically...you simply inspect the property to see that any 'subject-to' items were completed....photograph front (and I include street level photos just in case)....and complete the 1004D. Obviously you will need a copy of the complete original reporet. I'm not against doing these entirely...however...I do try to avoid 1004d's where I was not the original appraiser. I've found some subject-to language in original reports to be ambiguous....thus difficult to sign-off on. A lot of liability for $100+/- imo......although I know that opinions relating to this issue on this forum differ from my own. Your mileage may vary. If this was a simple 'subject to railings added to front porch" type of thing....easy peasy no problems. If it were a more elaborate requirement....perhaps not so easy peasy.
and yes...Gregb is correct...I had assumed this was a completion cert. and not an update. A 1004D order could be for either type.
I was thinking I could quote a drive-by price, because one would have to at least drive-by? But even still if we didn't determine value to begin with is that legal, and then do they give us the other appraisers report? or are they trying to get a second appraisal for $100?Pass. I wouldn't do it.
They want a 'cheap' appraisal.
You will learn that AMCs will call 100 appraisers until they find one that does it for peanuts.
Right sorry, I didn't not specify.