No Plat Map

[OSU Beavers]

I am completing a field review on one of the minimalist reports I have ever read. The original appraiser is located out of state over 100 miles away! There are over a dozen closer appraisers that the AMC could have chosen from. The report does not contain a Plat Map. Perhaps the out of state appraiser does not know how to obtain one.

Is a Plat Map required for an Appraisal Report on the 1004 form?

 

[andrew81]

no

but, it may have been a client/lender guideline.

 

[Andrei Fin]

Are you sure it's not a 1004P, check the small print in the bottom left corner.

 

[Restrain]

My question would is if the site was adequately described, including dimensions, etc. a plat may be superfluous unless... and here is a story. Did a review of a manufactured home appraisal. Site was 60’ deep, like 40’ wide. Thing is, they put a 70’ manufactured home on it. A plat or survey would be really, really important.

 

[gregb]

Was it an L shaped manufactured home?

 

[CANative]

My question would is if the site was adequately described, including dimensions, etc. a plat may be superfluous unless... and here is a story. Did a review of a manufactured home appraisal. Site was 60’ deep, like 40’ wide. Thing is, they put a 70’ manufactured home on it. A plat or survey would be really, really important.

Is the 70' a nominal length (they sometimes include the towing gear in the measurement.

 

[J Grant]

No, not require

I am completing a field review on one of the minimalist reports I have ever read. The original appraiser is located out of state over 100 miles away! There are over a dozen closer appraisers that the AMC could have chosen from. The report does not contain a Plat Map. Perhaps the out of state appraiser does not know how to obtain one.

Is a Plat Map required for an Appraisal Report on the 1004 form?

No, not required unless client makes it a condition. Though it is annoying a far off appraiser got the order, we review the appraisal itself. Minimalist is lazy but if there is nothing "wrong " with the appraisal, don't invent things

 

[OSU Beavers]

Are you sure it's not a 1004P, check the small print in the bottom left corner.

It is a regular Freddie Mac Form 70 2005 Fannie Mae Form 1004 March 2005.

 

[OSU Beavers]

My question would is if the site was adequately described, including dimensions, etc. a plat may be superfluous unless... and here is a story. Did a review of a manufactured home appraisal. Site was 60’ deep, like 40’ wide. Thing is, they put a 70’ manufactured home on it. A plat or survey would be really, really important.

Under Dimensions the report lists "See Plat Map". As I stated there is none.

There is no narrative about the site. The Taxes and Map Reference are incorrect.

Except for "comps were adjusted for this and that", there is no analysis.

Most of the appraiser added text is CYA boilerplate.


Now here is the kicker, in my mind there was no reason for this appraisal. The subject sold 10 months ago after being listed in the MLS for about a month and the new report value is within one-half of one percent of the last sales price.

Do a DeskTop or whatever. I guess they wanted to sell the loan, which why the 1004 and review were ordered.

 

[J Grant]

Under Dimensions the report lists "See Plat Map". As I stated there is none.

There is no narrative about the site. The Taxes and Map Reference are incorrect.

Except for "comps were adjusted for this and that", there is no analysis.

Most of the appraiser added text is CYA boilerplate.


Now here is the kicker, in my mind there was no reason for this appraisal. The subject sold 10 months ago after being listed in the MLS for about a month and the new report value is within one-half of one percent of the last sales price.

Do a DeskTop or whatever. I guess they wanted to sell the loan, which why the 1004 and review were ordered.

Your comments between your original post and now this one...are odd. What does a value within one half of one percent of a last sale price have to do with anything? And who cares in your mind there was no reason for this appraisal? Your reactions toward this report seem personal and unfocused and unprofessional . All this angst about a missing plat map, what about their comp choices? either the comps were similar to subject and good choices or they were not. .