Valligent

[bnmappraisal]

Thanks for the first hand knowledge Dublin!

 

[J Grant]

Thanks Dublin. Did they send you an appraisal or a BPO or just a subject and list of comps that were used?

 

[CANative]

I would agree that there is room for discussion about this type of work. But, I didn't read anything in CAN's post regarding what he saw on a Facebook posting, regarding an opinion, other than to comment on the quality of the comps. I don't see that as providing an OMV.

Not sure but I have a feeling they're going back to the comp check wars prior to HVCC where USPAP came out in an AO (or something) that "filtering" sales would yield value indicators and so it counted as an appraisal. But their argument is not strictly convincing because this assignment started out life as an appraisal review (of sorts). The subject of the review assignment in this case is not the appraisal report and not the appraiser. The subject of this assignment is a segment of an appraisal report. They're looking for an opinion as to the quality of that work.

 

[bnmappraisal]

I would agree that there is room for discussion about this type of work. But, I didn't read anything in CAN's post regarding what he saw on a Facebook posting, regarding an opinion, other than to comment on the quality of the comps. I don't see that as providing an OMV.

I agree that I don't believe CAN was stating anything about an opinion. As I stated, I'm not that good with multiple quotes ...

My issue with the whole thing (and again I paraphrase due to the quotes thing) when asked to state "BEST AVAILABLE, ACCEPTABLE or UNACCEPTABLE" ... we, as appraiser's, are offering our opinion, and with that, we're offering our opinion of market value pertaining to that report.

As I stated, I have no problem offering my opinion whether a report from (name a state, USA) is USPAP compliant as a desktop review (or whatever "creative name" they wish to call it), but when I'm asked to

 

[444nutman]

So you are reviewing BPO's.
I know a Realtor in Florida, who hangs out at the local bar I hit happy hour occasionally. He pays a company in INdia to write his BPO's and there is a local company in Florida that will drive your comp photos and subject. They offer differ tiers of pricing depending if address, street sign, interior photos, etc are needed. This realtor told me he clears 10 to 25 bucks a BPO for doing nothing but using his name and emailing the final BPO and adding the photos. He made an extra 35k last year according to him.
Twice I have ran into BPO guys in the field. Both times they were not Realtors. One told me his wife was the Realtor and the other was brother of a Realtor. It is amazing they are surprised at the quality of BPO's they receive.

 

[Evincere]

Valligent isn't your typical AMC.

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How so? What makes them atypical?

 

[bnmappraisal]

So you are reviewing BPO's.
I know a Realtor in Florida, who hangs out at the local bar I hit happy hour occasionally. He pays a company in INdia to write his BPO's and there is a local company in Florida that will drive your comp photos and subject. They offer differ tiers of pricing depending if address, street sign, interior photos, etc are needed. This realtor told me he clears 10 to 25 bucks a BPO for doing nothing but using his name and emailing the final BPO and adding the photos. He made an extra 35k last year according to him.
Twice I have ran into BPO guys in the field. Both times they were not Realtors. One told me his wife was the Realtor and the other was brother of a Realtor. It is amazing they are surprised at the quality of BPO's they receive.

(my bold) I've run into similar stories in the past (haven't done much REO work in the recent past)

 

[Dublin ohio]

Thanks Dublin. Did they send you an appraisal or a BPO or just a subject and list of comps that were used?

They send a complete appraisal. Nothing redacted. Although it is not necessary to read the complete appraisal due to a very limited SOW. I still glance through the appraisal. A little comic relief in some cases. Just looked at one that had 4 pages of market conditions commentary. Only the last 2 sentences had anything to do with local market. Rest was boilerplate about global, international, national and state financial conditions. Talked about things such as actions taken by China's president and on and on.
Even though the sales might have been the best available. It was more like a blind squirrel will find a nut now and then

 

[bnmappraisal]

They send a complete appraisal. Nothing redacted. Although it is not necessary to read the complete appraisal due to a very limited SOW. I still glance through the appraisal. A little comic relief in some cases. Just looked at one that had 4 pages of market conditions commentary. Only the last 2 sentences had anything to do with local market. Rest was boilerplate about global, international, national and state financial conditions. Talked about things such as actions taken by China's president and on and on.
Even though the sales might have been the best available. It was more like a blind squirrel will find a nut now and then

WoW!
I don't pretend to be any sort of appraiser/appraisal savant, but ... to quote "actions taken by China's president" and such????
WoW ...

 

[Evincere]

From the same topic in a FB appraiser page



Due to the limited scope and limited time required to complete the assignment, a fee of $40 will be paid for each assignment. You will have 2-3 business days to perform your analysis and finalize the report using the Acuity and Harmony platforms.

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Here you go. Decided to accept a few to see what they were like and also to provide forum members with some insight


Generous turn time. Received 2 today with due date of 01/12/2015

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Interesting that different Appraisers seem to get different TAT's