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  #1  
Old 10-02-2007, 08:58 AM
Tim Schneider's Avatar
Tim Schneider Tim Schneider is offline
 
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Default adding an addendum after report is signed

I need respond to some UW stips, which I will do in an addendum. Should the report now have a new file #, new sig date? Thanks!
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Old 10-02-2007, 09:44 AM
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Marcia Langley Marcia Langley is offline
 
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Tim,

If you add the addendum to the original report it will have a new signature date. If you submit it as a seperate assignment, of course, it will also have a new signature date.

I prefer to make new file numbers for the reason that you can't take back the one that is already "out there". For myself, if the changes are corrections of my own errors, or if they are minor requests of the client that I can accommodate, I will make a new file and add a prefix to the original file number and thereby retain a complete record of the original work and the ammended work.

For example file XXX might become file XXXa or XXXamended.

One day it could happen that someone will see both appraisals side by side and wonder what the deal is. Your second appraisal sould be very clear as to why it was necessary to amend the original.

If the request constitutes a major change of client requirements after the appraisal has been delivered, I will consider it a new assignment. In that case, I will not refer to the old assignment in the new assignment and it will have a completely new file name.

Last edited by Marcia Langley : 10-02-2007 at 09:47 AM.
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Old 10-02-2007, 10:16 AM
DH Wilson DH Wilson is offline
 
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With the exception of revisions made for the purpose of correction of any errors, the Appraiser does not anticipate further development or reporting requirements for this assignment. Any additional requests from the Client or any third parties may represent a change in the assignment conditions and require the development of a new assignment. WITH THE EXCEPTION OF CORRECTIONS OF ANY FACTUAL DATA OR OMISSIONS, ANY ADDITIONAL REQUESTS MUST BE MADE IN WRITING AND MAY BE SUBJECT TO ADDITIONAL BILLING TO RECOVER THE COSTS ASSOCIATED WITH THE ADDITIONAL WORK.

Outside of typos and real errors its billable time
  #4  
Old 10-02-2007, 10:41 AM
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Tim Schneider Tim Schneider is offline
 
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Quote:
Originally Posted by DH Wilson View Post
With the exception of revisions made for the purpose of correction of any errors, the Appraiser does not anticipate further development or reporting requirements for this assignment. Any additional requests from the Client or any third parties may represent a change in the assignment conditions and require the development of a new assignment. WITH THE EXCEPTION OF CORRECTIONS OF ANY FACTUAL DATA OR OMISSIONS, ANY ADDITIONAL REQUESTS MUST BE MADE IN WRITING AND MAY BE SUBJECT TO ADDITIONAL BILLING TO RECOVER THE COSTS ASSOCIATED WITH THE ADDITIONAL WORK.
Is that something you include in all of your reports?
  #5  
Old 10-02-2007, 03:43 PM
leelansford leelansford is offline
 
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Quote:
Originally Posted by Tim Schneider View Post
I need respond to some UW stips, which I will do in an addendum. Should the report now have a new file #, new sig date? Thanks!
YES...after you have communicated the appraisal with a "date of report", subsequent changes to the appraisal require a new current "date of report" and (IMNO) at prominant statement in the Addendum to the appraisal specifically stating WHAT is different about this new report and WHY the changes have been made.
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Old 10-02-2007, 07:12 PM
Kevin A. Spellman Kevin A. Spellman is offline
 
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The report is the communication to the client and is not the appraisal. If you add an Addendum to the report, state the date, the name of the person and the purpose of the Addendum. Then respond to the question. If your software allows you to bold the text in the Addendum I would do so.

I would not change the dates or the file identification. If you did, then you would have to state in the new file the data in the new report originated from a prior file. If you did not, you may have created a non-compliant USPAP appraisal report. You have not done an appraisal with the new dates. You have updated or revised a report without adding the original report or state this is now part of the work-file. Remember the appraisal is the fieldwork, your skills, your ethics and your work-file. The report is only for your conclusion to the appraisal request. This is my understanding for reporting in respect to USPAP.
  #7  
Old 10-02-2007, 10:45 PM
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Marcia Langley Marcia Langley is offline
 
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Quote:
Originally Posted by Kevin A. Spellman View Post
I would not change the dates or the file identification. If you did, then you would have to state in the new file the data in the new report originated from a prior file. If you did not, you may have created a non-compliant USPAP appraisal report. You have not done an appraisal with the new dates. You have updated or revised a report without adding the original report or state this is now part of the work-file. Remember the appraisal is the fieldwork, your skills, your ethics and your work-file. The report is only for your conclusion to the appraisal request. This is my understanding for reporting in respect to USPAP.
Kevin,

Just to be clear, the effective date would not change. But if you add an addendum to an appraisal report that has already been delivered, you must use the new report date/signature date.
  #8  
Old 10-02-2007, 10:54 PM
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Marcia, would you mind posting your source for this? My policy is to note the changes within the original report, identify the original signature date, etc. and of course have a new signature date. I personally have a problem with the concept of a new file, since in my mind that would constitute a new assignment .... new file, new comparable search, new effective date etc. Please direct me to the proper source of this procedure.
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Old 10-02-2007, 10:59 PM
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Also, I add some language in the addendum that this appraisal report signed xx/xx/xxxx supercedes the previous appraisal signed xx/xx/xxxx. Appraisal signed xx/xx/xxxx is null and void.
  #10  
Old 10-03-2007, 06:02 AM
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Marcia Langley Marcia Langley is offline
 
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Quote:
Marcia, would you mind posting your source for this? My policy is to note the changes within the original report, identify the original signature date, etc. and of course have a new signature date.
Rex,

We are in agreement regarding signature dates.


Quote:
I personally have a problem with the concept of a new file, since in my mind that would constitute a new assignment .... new file, new comparable search, new effective date etc. Please direct me to the proper source of this procedure.
Regarding the case of correcting an already-delivered report, no, I don't think there is a source for file naming policy. For myself, I want to be able to document both the original version and the amended version. I want to be able to tell the two files apart by file name.

We have seen cases posted on this forum where clients have turned original versions into the state board with a complaint but declined to include the amended version. I think it is important to be able to tell them apart. Both versions have been delivered with my certification and that fact does not change. I want both versions documented.

No, I do not see naming the second file XXXamended as having created a new assignment. The nice thing about that file name is that it is sequential to the original and clearly indicates that is is a correction to an original.

As far as the paper files go, dropping the second report into the same file as the first would not be a problem. For myself, I nest the second file folder inside the first file folder so I can keep the documentation for anything related to the correction separate within the file.
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