Why Comp Photos in Appraisals? - Appraisal Today USPAP defines scope of work, in part, as: the type and extent of research and analyses The scope of work section of the 1004 appraisal states “The appraiser must, at a minimum: (3) inspect each of the comparables sales from at least the street ”
Using old comp photo | AppraisersForum. com If the Client requires a new photo in the appraisal, you take one If you don't want to, you decline the assignment Nothing in USPAP requires that you take comparable photos The certification that you sign when using the Fannie Freddie form doesn't require comparable photos
Why Comp Photos? - Working RE Magazine Why Comp Photos? by Richard Hagar, SRA Many appraisers can’t understand why they are required to inspect the exterior and take personal photographs of the comparables (1004 form) This list should be familiar: • I spend hours driving by the comparables • I had to drive down a private gravel road • There was a gate preventing me from…
USPAP Compliance and Desktop Appraisals - Appraiser eLearning USPAP requires the appraiser to disclose the extent of the inspection of the subject property, which includes no inspection at all Further, USPAP makes no mention of the need to include photographs of the subject as part of the formation of a credible value opinion
Uniform Standards of Professional Appraisal Practice (USPAP®) USPAP was adopted by Congress in 1989, and contains standards for all types of appraisal services, including real estate, personal property, business and mass appraisal Compliance is required for state-licensed and state-certified appraisers involved in federally-related real estate transactions
Comp Photos and MLS, Fannie, USPAP, etc. - Appraisal Today Appraisalport polls on comp photos from June 2015 By Steve Costello, This month I want to discuss three recent polls dealing with comp photos In the first poll, we asked “With the availability of MLS photos, do you still feel it is necessary to drive by and photograph every comp?”
The North Carolina Professional Appraisers Coalition - NCPAC The North Carolina Professional Appraisers Coalition (NCPAC) was organized for the purpose of serving and protecting the collective interest of all professional appraisers in North Carolina
Original Comp Photos: Dangerous, Unnecessary - Working RE Magazine However, it is not an FNMA, FHLMC, or USPAP requirement to take photos of each and every comp used in a report We are simply required by FNMA to (3) inspect each of the comparable sales from at least the street for work completed on FNMA forms