Home Appraiser wants to take photos i...

Home Appraiser wants to take photos inside house

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Stinky

Monroe, NC

#1 Jan 5, 2013
A bank wants an appraisal on my home. Appraiser says he is required to take inside photos. I ask why. He doesn't know, but I suspect it is because appraisers are sometimes getting paid and not doing the work. Inside pictures make sure they are "at" the house. So...a homeowner is inconvenienced because some appraisers commit fraud.

PS: Guess who pays for the appraisal, too?
Century 21

Black Mountain, NC

#2 Jan 5, 2013
You can not appraise a home from the out side....You Dummy.. Not Fraud, just doing the job...Bank need to know the worth of the home to make the loan.. You are the one that may be the fraud.
Selina

Gaffney, SC

#3 Jan 5, 2013
I'm sure one reason is so that if the appraisal is ever questioned in the future, there is source material to back it up.
s lewis

Fayetteville, NC

#4 Jan 5, 2013
Century 21 you don't have to be so mean. I sure wouldn't let you sell my house because you are calling your customers dummies.Where is your good customer service. You really have to be careful who you let in your house.
Common Sense

Sherrills Ford, NC

#5 Jan 6, 2013
I do think it's standard procedure for an appraisor to take picture inside the house. I recently had an appraisal done, and he took several pictures inside.
40 year Appraiser

Las Vegas, NV

#6 Jan 6, 2013
First, lender and secondary mortgage guidelines typically require interior photos.

Second, these photos (like those required to be taken of the exterior) evidence the conclusions relative to condition, features, quality, etc.

Third, saying you are inconvenienced (as the one who wants the loan) is a foolish statement. The appraiser could drive-by and guess the interior quality, features, etc. and or walk-through and see that you are given full credit for upgrades, features, etc.

Appraisal Instructor

Denver, CO

#7 Jan 7, 2013
FNMA requires interior photos of the common areas - kitchen, living area, and such and also of every bathroom. This is an industry standard for interior inspections of residential properties.

Interior photos help the lender, the appraiser and the homeowner. They support the condition rating and the opinion of value.

The level of inspection is based on the size of the loan, the creditworthiness of the borrower and the perceived risk by the bank. You should also know that federal law does require appraisals for certain loans.
My Conclusion

Hickory, NC

#8 Jan 7, 2013
Stinky wrote:
A bank wants an appraisal on my home. Appraiser says he is required to take inside photos. I ask why. He doesn't know, but I suspect it is because appraisers are sometimes getting paid and not doing the work. Inside pictures make sure they are "at" the house. So...a homeowner is inconvenienced because some appraisers commit fraud.
PS: Guess who pays for the appraisal, too?
In other words you didn't clean up your house and prepare for the appraisel. You think the photo's are going to bring down the appraised value and you think thats the appraisers fault.
Bubba

Four Oaks, NC

#9 Jan 7, 2013
If I were the bank and someone named Stinky asked for a loan, I would look at the inside first. I'm not spending my money on a house without looking at the inside and surely stinky wouldn't either.
Stinky

Monroe, NC

#10 Jan 7, 2013
Century 21 wrote:
You can not appraise a home from the out side....You Dummy.. Not Fraud, just doing the job...Bank need to know the worth of the home to make the loan.. You are the one that may be the fraud.
Was the norm until very recently banks began requiring inside photos.

How long you been in real estate?
Stinky

Monroe, NC

#11 Jan 7, 2013
My Conclusion wrote:
<quoted text>
In other words you didn't clean up your house and prepare for the appraisel. You think the photo's are going to bring down the appraised value and you think thats the appraisers fault.
...and your conclusion would be wrong.
Stinky

Monroe, NC

#12 Jan 7, 2013
Inside photos used to be a guideline....but now a requirement for FNMA loans. Big brother likes to watch. See updated FNMA guide, B4-1.02-06 in effect 10/1/2010.

Not a big deal unless you like your privacy.

BTW - not for me but for a foreclosure party. So...all of you were off base.
its like this

Spruce Pine, NC

#13 Jan 7, 2013
Big Brother likes to watch.... watch what? Still photos of your bathroom, kitchen, and den. What could they possibly do with that and who cares.

Anyways if you owe on your home... it isn't your home, its the banks home until you get that paid mortgage in your hand and burn it. They have a right to see what you are doing with something they may have to sell if you cant meet your obligations. You wouldn't buy a house from just looking at the outside, they dont want to be stuck with a bad investment either... not that I have a lot of sympathy for banks, that's just how it is.
Stinky

Monroe, NC

#14 Jan 7, 2013
its like this wrote:
Big Brother likes to watch.... watch what? Still photos of your bathroom, kitchen, and den. What could they possibly do with that and who cares.
Anyways if you owe on your home... it isn't your home, its the banks home until you get that paid mortgage in your hand and burn it. They have a right to see what you are doing with something they may have to sell if you cant meet your obligations. You wouldn't buy a house from just looking at the outside, they dont want to be stuck with a bad investment either... not that I have a lot of sympathy for banks, that's just how it is.
I know it sounds paranoid, but this bank has appraised me every year for 5 years...$400 a clip and 2x in 1 year for a refi. Phone calls start with a day late payment. I don't trust them and certainly don't want them in the house taking pictures while I am at work (appraiser called the real estate agent to get access).

Comps are done every day with less.
Knitter9

Washington, DC

#15 Jan 7, 2013
The lenders require photos of the inside to secure your loan. HUD also requires this as well. Never heard of a lender who accepted an appraisal of outside only photos...unless a bank in Iraq. If you have made costly improvements,(like new gourmet kitchen, new bathrooms) you need photos to back up the amount you want to borrow. Would you lend money to someone who has an awesome house on the outside but still with 1960's furnishings and decor inside? No. How would you know the inside coincides with the amount you want to borrow? How would you know the house actually had carpet, stairs, flooring. If banks went by outside photos only, crooks would build house SHELLS (great outside, nothing inside) and commit fraud daily. Surely you had an appraisal done when the house was purchased. If the appraisal is still new, see if your lender will accept the previous. Appraisal. If you done improviements, they need proof of this. Unless you are running an illegal drug lab, let them in your home or the bank will tell you goodbye. The sooner you let them in the better you will be because rates may go back up and you may lose your lock in rate.
Stinky

Monroe, NC

#16 Jan 7, 2013
Knitter9 wrote:
The lenders require photos of the inside to secure your loan. HUD also requires this as well. Never heard of a lender who accepted an appraisal of outside only photos...unless a bank in Iraq. If you have made costly improvements,(like new gourmet kitchen, new bathrooms) you need photos to back up the amount you want to borrow. Would you lend money to someone who has an awesome house on the outside but still with 1960's furnishings and decor inside? No. How would you know the inside coincides with the amount you want to borrow? How would you know the house actually had carpet, stairs, flooring. If banks went by outside photos only, crooks would build house SHELLS (great outside, nothing inside) and commit fraud daily. Surely you had an appraisal done when the house was purchased. If the appraisal is still new, see if your lender will accept the previous. Appraisal. If you done improviements, they need proof of this. Unless you are running an illegal drug lab, let them in your home or the bank will tell you goodbye. The sooner you let them in the better you will be because rates may go back up and you may lose your lock in rate.
You mistakenly assume I am trying to get a loan. The bank is foreclosing on the home. They want an appraisal to complete their checklist and then sell the house to the highest bidder, which I could give a rat about.
Knitter 9

Washington, DC

#17 Jan 7, 2013
Tell them you want to sign a Deed in Lieu of Foreclosure. That way, like in 3 years you will be able to buy another home. If not, once they take the house back, they will continue to hound you for this house payment, even after foreclosure. By signing it back to them without foreclosure, you are off the hook for the loan. I don't agree with banks on the way they handle foreclosures and garnishing wages for something they took possession of. Sorry you are going through this. But do tell them you want the Deed In Lieu of Foreclosure. Really, you will be able to buy again later.
Stinky

Monroe, NC

#18 Jan 7, 2013
Knitter 9 wrote:
Tell them you want to sign a Deed in Lieu of Foreclosure. That way, like in 3 years you will be able to buy another home. If not, once they take the house back, they will continue to hound you for this house payment, even after foreclosure. By signing it back to them without foreclosure, you are off the hook for the loan. I don't agree with banks on the way they handle foreclosures and garnishing wages for something they took possession of. Sorry you are going through this. But do tell them you want the Deed In Lieu of Foreclosure. Really, you will be able to buy again later.
They have declined my offer of Deed in Lieu.
Hello

Charlotte, NC

#19 Jan 7, 2013
If you don't want them to do an appraisal, then don't do it. It's not rocket science
Knitter9

Greer, SC

#20 Jan 13, 2013
They legally cannot do that. Greedy banks. Can you get an atty to draw up a deed and deed it back to them? Atty Joe Delk is fair and will help you. He is a kind soul. Let me know if that doesn't work and I will try to help you. If you can record them saying you cannot do a Deed in Lieu of, hang onto that. I can help you. Is the bank a local bank by chance?

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