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Sketch Detail

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Bob Hood

Freshman Member
Joined
May 25, 2002
I am a new appraiser and I really need to know if and under what circumstances I should sketch in the floor plan of the subject house. I have been measuring up the house inside so that I can compare to the comps and also to be able to make the sketches. Is it true that unless there is a question about the utility of the layout I don't have to show the layout. :roll:
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Fannie mae does not require interior detail except in the case where functional obsolescence exists that is reflected in the layout. For instance, I know of a 1200 SF home with 6 bedrooms. The owner had 5 kids and partitioned the bedrooms into little cubicles. The new owner spent 10K knocking out those walls and refurbishing the house into 3 bedrooms again.

You client may require more. Most in house lenders don't care. Ask them if you have a question.
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
Terrell is correct in that Fannie Mae and most clients typically don't require an interior room sketch unless it is necessary to show a problem. However, my own personal policy is to do a complete room sketch while at the property. I don't necessarily measure the inside rooms, I count floor tiles, estimate furniture (for instance, end table plus couch plus end table equals about 10'-or a bathtub is 6' wide, each fixture is 2' wide, etc), I do note while measuring the exterior, exterior doors, an x where a fence meets a wall, patios, porches, storages, etc which when inside help me determine where a wall would be. (I also use ten square graph paper--which is extremly helpful). Then when I am back in the office and do the sketch for the report--for a 2055 interior order, they get the exterior walls with room locations; for a URAR, REO or ERC they get the full interior room sketch with doorways, closets, bath fixtures, etc. And I do include on all sketches all structures on site, porches, patios, garages, storage rooms, storage sheds, pools, etc. A large barn on the back lot may be indicated by dimensions only, but the main buildings are detailed. The complete interior sketch while at the property helps me identify and recognise everything that I need to know, the second walk through after I have made my sketch helps me note everything and makes sure I haven't missed anything--which also is very helpful while I am writing up the report. Don't cut corners, trying to save time, while at the property--it will cause lengthly delays and problems down the line.
 

Bob Hood

Freshman Member
Joined
May 25, 2002
Thanks to all of you………..I worked for a local bank for about eight years doing audit work and also all of their appraisals. Three years ago I retired and I decided last year to take advantage of all the experience I had and apply for my license. Took the classes, took the test, got my license. I just sat up my own business from home and am working with my old instructor to get me started. Unfortunately my father passed away in July and I had to drop every thing until I got the Estate taken care of. Well I am ready to get going now. I appreciate this board and look forward to contributing and also to learning more as I go.
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
One of the most important tips for a "newbie" is to read this forum and other chat rooms--both NAIFA and the AI have chat rooms. Also, find a professional organization in your area that you feel comfortable with and attend all their chapter meetings. Get involved with the chapter--you will meet other appraisers to exchange ideas and information with. The classes you have taken and the exposure at the bank was just the barest of beginnings. There is always something new to learn or gather on a chat room and at a chapter meeting. I have been in this business for over 35 years--and quite frequently--I think of myself as a "newbie" because I am just now learning something new!! So keep reading, attending, participating with an organization and asking questions!!!

On a side note: NAIFA will be having an educational conference at St Simon Island, GA 01-24 & 25, 2003 with various classes being offered. See the main NAIFA.com website.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Measure the exterior perimeter of the house. Do a simple sketch that shows the measurements you used to determine your GLA. Keep the sketch simple unless you have lots of time and are bored.

Use simple text to describe what the rooms are, ie. bedroom, bath, kitchen, dining area, family room, etc. Show doors, garages, and patios/decks. Easy way to determine what needs to be done is use the tutorial on your software.
 
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