THIRD-PARTY INSPECTION & FLOOR PLAN DRAWING

Fannie Mae and Freddie Mac now give borrowers the option of a Desktop Appraisal on certain loans. A Desktop Appraisal is an appraisal completed by a state licensed or certified appraiser in which the appraiser does not have to inspect or observe the subject property. Fannie Mae requirements include:

• No physical inspection of the subject property; data may be provided by various parties (buyer/seller agent, homeowner, builder, appraiser files, etc.) and through secondary data sources (public records, MLS, internet, etc.).
• Must include floor plan with interior walls.
• The appraiser must have sufficient information to develop a credible report.
• Data provided by parties with a financial interest in the sale or financing of the subject property must be verified by a disinterested source.

Drawing a floor plan with interior walls is often no easy task for someone who is not trained in measurements and floor plans. We use a 3D LiDAR scanning device coupled with an award winning application called CubiCasa to re-create an existing dwelling’s floor plan with ease. The floor plan will include room names, total living area, exterior dimensions, area calculations, interior walls, doors and fixtures.