Desktop Appraisal Not the Same as Hybrids
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Appraisers, I have a correspondence relationship with an appraiser within one of the ‘agencies’ who this past week issued new guidance for “modified” reports, including desktops. I’m not allowed to say who, or which agency, but I have actually met the person at a conference, and the individual has been in this industry about 99 years, give or take a few – no…lots!
The person provided this suggestion for those of you who are beginning to do the new desktop appraisal, regardless of which agency is involved:
“If you have a desktop assignment, set up an appointment time on your calendar. Then, at that time, get out your inspection sheet, iPad or whatever you normally use, and “do the inspection” using the MLS listing, interview with owner, etc. and take the notes the way you normally would.
Then, when you start working on the actual appraisal you will be starting with the same info you normally have, and your “normal” workflow will not be disrupted.
I think if appraisers would do something like that it could help them maintain more normalcy in these strange times.
And, the more their workflow resembles their normal workflow, the more efficient they will be, with a tendency to make less mistakes.”
This is a very good suggestion. Hope you will ‘take it to heart’ and implement it in your normal appraisal activity.
One more point I’d like to make. There seems to be misunderstanding among appraisers about what the ‘modified’ desktop appraisal is. It IS NOT anything like the hybrid/bifurcated reports promoted by some AMCs and lenders. These reports are entirely done by the appraiser, using whatever public and private data & photos you can find or are given to you.
Please carefully read the ‘desktop’ instructions issued by the various ‘agencies’ and follow them.