Just What Is A Drive By 2055

[Verne Hebert]

USPAP says we must produce a credible report and a report consistent with the purpose and intended use.

I don't do many of these. But I do have one today. A half million dollar property with a loan amount of 90k at a ltv of 65 %.

Interior access is not possible due to being a second home in a resort with the owners on the east coast.

Once I have established a couple of hundred thousand in collateral my job is done per USPAP.

Full Fee.

Happy Holidays!

 

[Elliott]

I use public records, listings, old appraisals on
a drive-by. My fee is only $50 less than
a 1004 and have found it takes about an hour
less to do than a 1004. I've also noticed I'm
doing less and less of them.

elliott

 

[Walter Kirk]

I just got a request for a 2055 exterior drive by today from some outfit in Colorado. The subject property is located in a quite expensive seashore resort community (the girl on the phone had never seen an ocean). I know this area qiute well, my family owned property on the same block.

There are almost no cookie cutter houses in this community, different ages, sizes and styles on the same block some with condo ownership. In addition the street has commercial uses and I told the girl that I wouldn't do a 2055 in this situation.

The girl said that she would contact her client and she never called back. I am willing to bet that some one will do a 2055 ride by on this property-garbage in-garbage out!

 

[Mike Garrett RAA]

You mean you get out of the car?????????? :rofl: