Comments on: Desktop Appraisals Soon to Be the New Purchase Wrinkle

By: Paul

Paul — Fri, 13 May 2022 15:43:32 +0000

Can someone tell me the approximate number of hours needed to complete a 1004 Desktop Appraisal?

By: Tom D

Tom D — Wed, 27 Oct 2021 12:34:52 +0000

i got paid the same amount for the desktop and full 1004, which i thought was a pay raise. mostly city row homes with lots of mls photos, or refi photos sent by owners. i do a lot of normal driveby appraisals. what is the difference. had the best time doing these driveby covid appraisals, no traffic. loved them. and if i wasn’t sure, i could depart from the exterior, and do an interior. now if the pay is the same, bring them on. now i understand row homes all look alike, so i understand your detached homes concerns. the only problem i could see was that city records wasn’t always right about the gla, but that was a small %.

By: Ohio Appraiser

Ohio Appraiser — Mon, 25 Oct 2021 14:53:01 +0000

The GSEs have already developed a 1004 Desktop form to remove the need for an appraiser to insert the modified set of Scope of Work, Limiting Conditions, and Certifications to the 1004.

https://help.alamode.com/docs/2009

By: Chris

Chris — Sat, 23 Oct 2021 00:19:41 +0000

In reply to Baggins.

Agreed !

By: Baggins

Baggins — Sat, 23 Oct 2021 00:16:29 +0000

With desktops the appraisers liability and overhead costs do not change. Institutionalized increases in efficiency will have a direct relationship to fewer appraisers. Desktop only appraisers will burn out like candles, more stips, lower pay, more requests, slimmer deadlines, vastly more assumptions and presumptions. Fail. I will never rely on an unlicensed third party inspector as being valid information. Those ‘inspectors’ work for ten or twenty dollars per with no liability, no licensing, no insurance. Of course, lenders will continue to refuse to share the actual legitimate home inspection reports with appraisers. Sign it yourself, I’m not participating in desktop only appraisal work.

By: Seneca

Seneca — Fri, 22 Oct 2021 11:29:34 +0000

In reply to Xpert.

But we’ll get the blame again.

By: Chris

Chris — Thu, 21 Oct 2021 22:52:23 +0000

In reply to Xpert.

Agreed !!!

By: Xpert

Xpert — Thu, 21 Oct 2021 22:25:00 +0000

I’m not worried because once the market collapses they will want full appraisals again.

By: chris

chris — Thu, 21 Oct 2021 16:42:36 +0000

In reply to Bill Johnson.

How does $65 or $75 sound….3 settled sales, 3 actives and a review of the BPO….LOL …..and they say only 30 minutes of work for the appraiser….LOL I just read a Mang. Co letter looking for appraisers to make them a fortune with all the liability on the appraiser…..

By: Bill Johnson

Bill Johnson — Thu, 21 Oct 2021 15:54:24 +0000

During the peak of Covid I completed dozens of desktop appraisals for one of my best clients who paid the full fee (full liability / full fee). The question is, will these new desktop orders be at full fee, or at a discounted rate? If discounted, will the lower fee offset the typical time and money spent driving to, inspecting, and coming back. True appraisers run their business first, and the product second, where as the powers that be never consider the business side of appraising.

Seek the truth.