Using interior photos from a past appraisal

[Michigan CG]

I do few residential properties, but when I do I include at least 6 interior photos on ALL properties, and the one I did today (8th this year) I included 9 interior photos and 9 exterior photos. Am I unique? Or do I just get unique properties to appraise? I also include interior photos from the MLS of the comparable properties.

Just wondering how many photos do you put in a report?

 

[Mike Garrett RAA]

Tim...typically three on cookie cutters, more on unique properties. Never have used MLS interiors on comps but that might be a really good idea.

 

[Cob]

Every time I go to a property I take a street seen photo with my car in the photo, then if someone says I didn't go to the property I can point that out. Also if you went to the property for a second time and you took exterior photos as well there is no way those photos will be the exact same as the second time you went out there.

 

[Webbed Feet]

Ms. Burlison,

Let me guess.. AND the LO is demanding you do not charge a fee or return the fee money right?

Things are very strange right now... it's the subprime melt down.. You cannot pull silly stunts that make little sense. Even if you do so out of innocence and just not thinking... it will get used against you at the first opportunity if a loan cannot be done for ANY reason. Some wholesale lenders will use any handy excuse if the borrower looks shaky. Stop making yourself a target.

A) Only communicate with this LO in writing and do not allow the LO to do anything else with you.
B) I would NOT change my report. A letter referencing the report with photo page of the interior shots you took the second time while there only. At this point you do not want two versions of the report running around.

I would say very little.. Here are the interior photos I took, they came out poorly, no conditions had changed, I provided better quality prior photos for you... Photos were not even required of the interior per the engagement...

Barry Dayton

 

[The Warrior Monk]

Is there anything wrong with using interior photos from a past appraisal done approx. 6 months ago, if absolutely nothing has changed? The loan officer is accusing me of not inspecting the interior because I used the same interior photos. On the second appraisal, the house was messy, drapes were drawn, and the photos from the first appraisal came out better. Is there any violation of any USPAP or Fannie Mae rule here that I'm unfamiliar with, because he saying his loan didn't close because of my appraisal (even though he has no condition from the lender).

IMHO, I think it is misleading to use the old photos in this case, because the purpose is to make the dwelling appear better than it really is. If this wasn't explained in the report, I think there is a credibility issue.

The appraiser's job is to report and present the facts.

 

[Richard Carlsen]

Is there a violation? Ask yourself this question and give an honest answer: Did you try to deceive the reader into thinking the property was better condition than it actually was?

If the answer is yes, you goofed.

I've used old photos when I could not get back inside or the house burned down or something. You make a simple statement in the report what you did and why. As Mike said, there is no requirement in USPAP for photos but if you opt to include them in the report or if they are required under the Supplemental Standards, you sure as heck better use ones taken the effective date of the report or say why.

If you reinspected the interior of the house, there is no excuse for not taking a new set of photos since what you are doing is a new assignment.

Don't try to pass this one off on a pushy LO. It's your mistake; he is just the one who caught you.

 

[KenRossman]

Always better to use photos that reflect conditions as of the effective date,

If the ho's are pigs, thats their problem, not yours.

A few suggestions...

When I set my appts I tell them I will be taking interior pictures - If they don't want to be embarrassed by their mess, they can clean up.

Always have the flash turned on. Never aim directly at a bright window - you will get an unusable dark picture. Aim below or to the side of any bright windows. Always take your interior photos at your cameras widest zoom opening and stand back as far as possible into the room to get the most and best view.

Also, I always check all my pix, before I leave and retake any that don't come out to my satisfaction.

 

[Don Clark]

If you do interior photos they should reflect the condition of the subject property that you saw as of the effective date of the appraisal. Sending photos from a past appraisal with a retrospective effective date appears misleading. I have to side with the lender on this one.

 

[BRCJR]

A little different subject matter, but still about older photos.

You drive by a comparable that you used in a previous report. The report was written 2 months ago. You have a photo saved on your computer.

Do you use the older photo or take another and use it?

Why or why not?

 

[KenRossman]

Bill-

I would always use the photo that was most reflective of the comparable as of the date of the sale. I frequently use MLS or assessment photos when the comp is significantly improved/razed/altered subsequent to the purchase.

I will also usually include the current photo and an explanation of what I did & why.