Pictures Of Vacant Lot-----comps?

[Monica Otto]

rigbiggers, I agree with you also. I think it is stupid ... however I now do it. I just started adding comp pictures 2 years ago when several lenders required it. We dont have that many land appraisals in our area, however I did one today. 9 acre parcel with comps 1-5 miles away. Nothing staked to indicate the lot locations. I drove the streets of the comps. Took what I thought would be the approximate area of the lot, and I am going to state that in my report. Half the time when you go back to get a lot picture there is a house going up on it! REALLY dumb requirement.

 

[EDWARD BERRY]

The customer is always right reguardless of how crazy they may be.

That why I charge 300 chicken legs for land appraisas now. Starting out I did them for 100.

Charging more and enjoying it more.
ed

 

[xm39hnu]

Let's see, now. If I were an underwriter, why would I want pictures of vacant lots?

Well, not necessarily because I don't know what dirt looks like. Maybe because I'd want to see what is NOT on the lot. I want to know that the lot being used as a comp doesn't have eight derelict cars rusting and leaking all over it; I want to know that the comp isn't flat for the first 25 feet and then drops 75 feet down in the next 50 feet. I want to know that there aren't cattails or other water plants growing on it which might indicate a drainage problem. I'd like to know that there's not a major powerline or pipeline right of way adjoining the comp.

I guess I'd want to have pictures of the comparables just to assure myself that they really are comparable to the subject, and that the appraiser was really there, and knows whereof he speaks.

The appraiser who sent me pictures of something other than the actual lots being used for comps might get away with it for a while, but sooner or later he'd send me a phony picture of a location with which I am familiar. At that point, I would initiate action to relieve him of a significant portion of his hindquarters, and all the fixtures thereunto appended.

 

[Farm Gal]

And how many of you have ever done a review where you can find the EXACT spot where the appraiser rotated to the four compas directions while standing just a bit off center of the subject front: comps 1 2 & 3 wind up being the east west and north views of the subject's south of the road frontage shot??

first clue was the street cornerpost

 

[Mountain Man]

Biggers,
I have never had a request for comp photos on a land report until about 3 years ago, from an AMC. Didn't see it in the order form, but it was in there..... in mice type. So, had to make 2 trips..... D-oh! It was a neighboring county, but not easy to get there in these mountains....... almost can walk there faster. Didn't make any money on that one, but I did learned how to read their order form.

 

[Jeff Horton]

My question is why did they wait till closing day to decide they needed them??

 

[Rich Hahn]

I still a scuff mark on my front door from such a request.
They got their photos. I have a scuffed door and sore foot.

 

[Rhoda Crawford]

In addition, your visual inspection of the comparable vacant lots will reveal if the lot is truly comparable, i.e. curbs, sidewalks, topography.... not to mention, if the comparable has an external inadequacy such as power lines or traffic street, you need to make an adjustment for that........ external influences are never mentioned on their listings.........

 

[Pine Tree]

Ricbiggers..

Always take comp photos.. Have had my own vacant land appraised.. no comp photos by the other appraiser.

In terms of ridiculous.. I think I have something to compare .. Was asked to prove the MLS service I use exists. It's our statewide service! Has a web site that is very easy to access.. You can even start at Realtor.com..
A summary appraisal report does assume that the intended user doesn't reside in a zoo, doesn't it? ( or currently attend elementary school )

Oy! I'm tired and a bit punchy.. SOO glad rates are going up a bit. W

 

[Farm Gal]

Originally posted by Wendy Boston@Aug 14 2003, 05:05 AM
Was asked to prove the MLS service I use exists. It's our statewide service! Has a web site that is very easy to access.. You can even start at Realtor.com..

:rofl:

Did they specify whether you had to personally deliver the physical body of the MLS?

gotta love it?!?!?

on the other other hand ~ sorta makes you wonder what someone was up to that made them ASK that question...

~no~?