Rental Comp Photos

[Fernando]

I thought Fannie doesn't require photos for rentals.
Client requested me to have rental photos for my recent appraisal.
I was going to use MLS photo but the weather background was different from my subject.
Ugh, I had to go back and take it.

 

[Sid Holderly]

The AMC and/or lenders require much more than the minimum. Always read all the requirements that come attached to the AMC order before accepting.
Requirements of east and west coast AMC's and lenders are often not applicable in the flyover area and require extensive explanation addenda to get past the reviewer and are often difficult to load up to their portal without rejections.

 

[ramrcdk]

If the Rental Form is required AT the time of the appraisal order, I always take any-all photos I may use or be required (SOW) to use.
Also because the rental photos will be on the Location Maps.
If the client orders Rentals after the initial inspection order, I just add that to the Fee (a Trip Fee).
This is a clarification from me to them - upfront & at the time of Order Creation-Acceptance. ("... after the inspection date, modifications to the SOW will require applicable service fees (example adding unknown requests that require a Trip Fee.)

 

[glenn walker]

Fernando I thought you used photo shop to change the weather : ) LOL

 

[Mike Ault]

Fernando I thought you used photo shop to change the weather : ) LOL

Nope, he only uses that when he needs to convince other people that he drives a red Corvette…

 

[Tom D]

for rentals, i use MLS photos. have not had a problem. but i don't do AMC work. anyway, if fannie lets you use any photo for comps, then they care more about rental photos being taken by yous.
i would find photos that match the weather. we have had rain almost every day this year. most of my photos have clouded sky. you could also crop the photo. where does it say you have to show the sky. i have done row house photos on very narrow streets where i was lucky to get most of the row home. never a question on, 'why no sky'.

 

[Sadie]

I usually take them, but not always.

 

[Fernando]

If the Rental Form is required AT the time of the appraisal order, I always take any-all photos I may use or be required (SOW) to use.
Also because the rental photos will be on the Location Maps.
If the client orders Rentals after the initial inspection order, I just add that to the Fee (a Trip Fee).
This is a clarification from me to them - upfront & at the time of Order Creation-Acceptance. ("... after the inspection date, modifications to the SOW will require applicable service fees (example adding unknown requests that require a Trip Fee.)

In Alamode software, my photos don't show up for rentals in the location map. May be I'm not doing it right. Anyway there's no requirement even to have photos on location maps.
I'm finding some lenders with less stringent requirements may be worth a second thought in giving them "lower" appraisal fees. The many guideline requirements is taking more time and deserve to have higher fees.

 

[ramrcdk]

In Alamode software, my photos don't show up for rentals in the location map. May be I'm not doing it right. Anyway there's no requirement even to have photos on location maps.
I'm finding some lenders with less stringent requirements may be worth a second thought in giving them "lower" appraisal fees. The many guideline requirements is taking more time and deserve to have higher fees.

In Alamode: you can "check box" which comps, rentals, etc. that will show-up on the Map: "Property Placement Options". I prefer to use different colored icons'-'balloons" to distinguish the differences in subject, comps, rental, etc.

 

[Fernando]

In Alamode: you can "check box" which comps, rentals, etc. that will show-up on the Map: "Property Placement Options". I prefer to use different colored icons'-'balloons" to distinguish the differences in subject, comps, rental, etc.

I didn't know that. I never liked the photos in the balloons which took too much space on the map.
You can use those balloons and hide things like cemetary, power stations, etc. Not that I would do that.