Lender Desktop Appraisals

[J Grant]

Thanks for the explanation!​

 

[bnmappraisal]

Each is a separate desktop appraisal

The appraisals are defined as a single price and they are appraisals, not reviews, although part of the appraisal report compares an original appraisal to the desktop appraisers work

[QUOTE="fcrecords, post: 2776038, member: 130081"]I did them for the entire state[/QUOTE]
(my bold) If these are appraisals, and I agree they would be under USPAP definition of appraisal, since you (or anyone completing them) are engaged as an appraiser to complete them, how do you get around the competency rule for covering the entire state?
I'm guessing many extraordinary assumptions to the effect of "utilizing the original appraiser's info as being accurate" ???

 

[Meandering]

Exactly!

 

[Meandering]

Lenders need Appraisals. But as long as someone, not an appraiser does them, they can call them evaluations, and believe that such appraisals renamed evaluations are cheap compared to appraisals prepared by appraisers.

Why do you want to do desktop appraisals cheap? The IAEG still calls for knowledge of the interior condition. It's still an appraisal, but now you need the "inspector" to sign your certification, as their inspection is significant assistance, upon which your value opinion is based.

.

 

[Deleted member 134708]

I just did my 1st PIW refi. All the lender needed on this one was a 2075. Never did a 2075 before. Didn't even know what the form looked like.

Umm, I ended up charging $225 an hour. Yes, please. I'll take all the 2075's you got an let others do 1004's for $35 an hour.

Took 20 minutes start to finish 100% included.

 

[bnmappraisal]

Never did a 2075 before. Didn't even know what the form looked like.

I'm with you ... actually just had to look it up since I've never done one either.

If I'm reading it correctly, you're not being asked for any sort of opinion of value, correct?
Seems sort of like a 1004D completion type in terms of time spent - drive to the subject and quick typing of report

 

[Deleted member 134708]

I'm with you ... actually just had to look it up since I've never done one either.

If I'm reading it correctly, you're not being asked for any sort of opinion of value, correct?
Seems sort of like a 1004D completion type in terms of time spent - drive to the subject and quick typing of report

Correct. It's not an appraisal. It's same time as a 1004d. 1004d have call, schedule and go inside a property. This one you have to write in boundary, and predominate info but no appointment or going inside. 1 front pic and that's it.

I'd say they are a wash in time.

From what the AMC told me, "the lender just wants to verify a structure is actually there"

 

[Terrel L. Shields]

charging $225 an hour. Yes, please. I'll take all the 2075's you got an let others do 1004's for $35 an hour.

Took 20 minutes start to finish 100% included

$75 a pop? Geez...the profession isn't one anymore.

 

[EddieB]

I haven't seen a 2075 in five years, but I loved them. I was getting $125-175 and getting 5 or more a month for a stretch.

I would assume, with the trajectory we've been on, the fee is sub $50 now

 

[JTip]

$75 a pop? Geez..

I would rather groom dogs.....or cut grass....