Appraisers' Free Forum

I would like to see some discussion regarding this type of appraisal. Topics covered could include specifics about
the REOAD form, types of comparables, different values, scope of work...well, you get the idea...

I took a class on this subject but now that I am fillling out my first form I feel the class did not cover what I need.

One question, regarding repairs....do you list things like the refrigerator? IT is there but in very poor condition due to
mold and filth. I guess I am not sure if they are asking just for items that need repairing such as broken doors and
cabinetry, holes in the wall, etc...or do they want what it would take to bring the property to market standards for
the neighborhood.

If anyone has a sample of the form filled out and would be willing to share I'd be so happy. I know the basics but I
don't have any confidence that I am doing it properly.

Thanks so much and I hope everyone had a wonderful holiday!

Alisa, in regards to the refrigerator, I'd note in the appraisal that one is there, and it's condition, but I'd give it no value, other than considering it when you are doing your clean up costs and estimates, since, in some locales, appliance removal costs are different.
Otherwise, it is personal property. The difference is, in REO's, you need to give an estimate of a cost to clean up as well as repair costs.