Appraisal Interior Inspections Should be Suspended
I was watching 60 Minutes last night. There was a story on health workers going house to house doing tests on the residents in New Rochelle to see if they had the COVID-19 infection. They wore protective clothing, masks, gloves and even washed the gloves before throwing them away when finished. They were being really careful not to get infected and not to spread the virus.
Appraisers are going into homes without any of these precautions. They are endangering themselves and they are at risk of spreading the virus if they pick it up in one house and continue doing inspections for another 14 days before their symptoms appear and they realize they have it.
Imagine how bees pollenate an orchard. Now imagine 40,000 residential appraisers going house to house nationally doing inspections. At this time when everyone is being asked to self-isolate to reduce how quickly this virus spreads (flatten the curve), appraisers in the course of doing their jobs may inadvertently accelerate the spread.
My other concern is that I have seen too many statements that the risk is lower than getting the flu. Risk of catching it or risk of dying from it? If you catch it and you are 65 or over, your risk of dying is up to 15%. Is this alarmists? No, look at the stats from China. Now remember that lots of appraisers are in their 60's.
GSEs and Lenders should act, but until they do, I recommend appraisers tell lenders they will do a 2055 instead of the regular 1004.
I believe all home inspections should be suspended until further notice.
Hoping you stay safe and healthy,
Jeff Bradford, CEO
Bradford Technologies, Inc.
Bradford Technologies, Inc • 302 Piercy Road • San Jose, CA 95138 •
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