What do you all do when there is no information pertaining to a property? I had an order yesterday that had no listing history. Tax records did not show information on property because it had been purchased as a vacant lot and a manufactured home was placed on it. The tax records did not even give lot dimensions. I tried finding comparable properties in area to use for estimating purposes but its a suburban area with very few comps and that didn't work for me, either.
I was told to estimate. I'm not uncomfortable estimating bed/bath count but estimating all the information????? I said no. Of course Pro-Teck is mad. I rarely accept their orders so I don't mind if I lose their business. (It would actually probably be a good thing.)
The question is this: What do you typically do when there is absolutely no information? Do you just give it your best guess and estimate or do you say no?
Thanks!

I only had one property that I came across that had no information. I emailed the AM and requested a copy of the appraisal. I was able to complete the BPO with the information from the appraisal.

The county must have the original survey of the property. How do they pay taxes? Contact your prop appraiser, maybe the absent acreage information is an oversight. It's zoned for residential, what about the adjoining lots? Can you look at those lot sizes?

I've had one similar to that. In the end after no appraisal could be found I was told to guestimate. On a manufactured home it isn't hard.

Wow - how far off do you think you'll be on a manufactured home?

Are you also saying you cannot access the lot information to get size, 'or' the deed? That makes no sense - but some places don't have GIS I guess or online tax information. Even the bordering properties will have length measurements in our GIS when zoomed in

I have found many 'Mobile' Homes with no tax data - not required if they are 'Mobile', not attached to a permanent foundation. I have never been afraid of missing the numbers - just place data for subject has been estimated.

Pull all comps up and look at them to get a better idea - then just do it.

Are you doing a BPO? Broker Price 'Opinion'?

Easy for me say - I have no qualms about estimating if that is what I am asked to do or if it is required.

I suggest that an appraisel be done.

I have to go with Pine here. If your client asked you to estimate, what is the problem? You are doing the order for them, they have asked you to estimate, so have at it. With a mobile home you can probably get mighty close if not dead on. There is not much variance in those things. Just disclose that you estimated and if yur client asked you to estimate via email, you are more than covered...

Are you close enough to visit the property and is it vacant so you'd have no qualms about going out to count the bedrooms and bathrooms, then measure the lot and interior sizes?

Just out of curiosity, don't you have to submit photos or are they asking you to do a blind estimate?

Linda

I'm with the majority - just make sure the caps lock is on when you type the words - bedrooms, baths, sq ft is estimated - no tax or mls data. Hey - this could be the easiest BPO you ever did - your sq ft, bedrooms and baths will magicly match the comps. (Sorry I couldn't resist).

I had the same thing recently and just asked for it to be reassigned. They said "estimate all of it". Yeah okay, that's doing an accurate job. I declined and they were furious. Didn't really like that company anyway :)

Call the title company.

I estimate all the time. I normally ask if they have a previous bpo or appraisal. Even if your beds and baths are off will it really affect the value by much? Just do the order and make notes that you estimated all the info. If your info was off it's not your fault since you documented that in your report.

When you don't know, find out the average price for similar properties and give them that information and the comps to support it.

They'll know if it's a junk pile, it'll get less than average and if it's spiffed up, they'll likely get more -- but at least they have an idea of the average prices and that's the best you can do for them at this time.

I won't accept an order in a town that doesn't have online assessor or tax information. Though even using this guideline, I've been screwed.

Agree with the responses to call the client. I could never "estimate".

Good luck!

See if you can pull the Deed, sometimes they will have the dimensions of the manufactured home on them as part of the legal description.

Check with the title company too or request information from a prior report or appraisal, as mentioned above.

Thanks for all the responses. I asked for the order to be re-assigned. For me it was the right decision. I spent a considerable amount of time researching it and because of the location came up with nothing and contacting the homeowner was not allowed. I asked about prior appraisals but there were none. In this case it would not have been an estimate- it would have been a guess. Fortunately this happens to me very rarely.

If it aint Mrs. Pauls, throw it back.