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  #1  
Old 08-31-2009, 04:18 PM
Mike Kennedy's Avatar
Mike Kennedy Mike Kennedy is offline
 
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Post Uspap August Q&a

August 2009 USPAP Q&A
Application of Appraisal Reporting Requirements
Multiple Intended Uses in the Same Appraisal Report
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  #2  
Old 08-31-2009, 04:48 PM
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Tawfik Ahdab Tawfik Ahdab is offline
 
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Not bad this time. Not so legalistic for a change.
  #3  
Old 08-31-2009, 05:01 PM
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incognito incognito is offline
 
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I have a problem with this question on the Q & A:
Quote:
Question:
If an appraiser is bound by USPAP for a particular assignment, when must the appraiser comply with the USPAP appraisal reporting requirements?
Quote:
Selecting and providing a client with comparable sales for a known property is an appraisal assignment as defined by USPAP.
Unless the ASB intentioned the word "Selecting" to mean "carefully choosing and sorting through to only provide the most comparable sales" AND "providing" to mean giving the client the comparable sales with some sort of indication that the opinion of value somehow is easily obtained from those carefully selected comparable sales, I say this is not true.

For better clients I will provide the service of doing a comparable search for a particular property. It is an all inclusive search of say all homes +/- 250 sq. ft., all homes +/- 10 years in age, all homes in the same neighborhood, which have sold in the past year. I provide the raw, unsorted, unanalyzed, un adjusted data to the client, AND I say this IS NOT a valuation service, and no "value opinion is communicated" by this raw, unadjusted data.

The ASB is wrong here, I believe.
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Old 08-31-2009, 05:08 PM
leelansford leelansford is offline
 
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[quote=incognito;1865135]I have a problem with this question on the Q & A:

Unless the ASB intentioned the word "Selecting" to mean "carefully choosing and sorting through to only provide the most comparable sales" AND "providing" to mean giving the client the comparable sales with some sort of indication that the opinion of value somehow is easily obtained from those carefully selected comparable sales, I say this is not true.

For better clients I will provide the service of doing a comparable search for a particular property. It is an all inclusive search of say all homes +/- 250 sq. ft., all homes +/- 10 years in age, all homes in the same neighborhood, which have sold in the past year. I provide the raw, unsorted, unanalyzed, un adjusted data to the client, AND I say this IS NOT a valuation service, and no "value opinion is communicated" by this raw, unadjusted data. The ASB is wrong here I believe. (/QUOTE)

.................................................. ................Lee responding:

When you provide this service to your "better clients", you are communicating a range of prices. What you are (unintentionally) communicating is a.k.a "an appraisal".

The ASB has previously addressed this issue in at least one "FAQ"...I'll have to search for the specific reference.
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  #5  
Old 08-31-2009, 05:17 PM
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David Wimpelberg David Wimpelberg is offline
 
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Quote:
Originally Posted by incognito View Post
I have a problem with this question on the Q & A:

Unless the ASB intentioned the word "Selecting" to mean "carefully choosing and sorting through to only provide the most comparable sales" AND "providing" to mean giving the client the comparable sales with some sort of indication that the opinion of value somehow is easily obtained from those carefully selected comparable sales, I say this is not true.
Once you've used the word "comparable," you've performed an appraisal. "Comparable" is a relative term, meaning similar to the subject.

Basically, once the data has been filtered in any fashion, then an appraisal has been performed.
  #6  
Old 08-31-2009, 05:23 PM
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Cog, say it ain't so brother.
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  #7  
Old 08-31-2009, 05:24 PM
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Calvin the Airedale Calvin the Airedale is offline
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Based on the first Q&A, here's a riddle: How does the VA'a Tidewater Initiative notice (which is code among all parties involved for "the property isn't going to appraise for the sale price") avoid being subject to Standard 2 reporting requirements? It surely is the communication of a valuation, if just by comparison to the sale price.

Sorry, I know we flogged this one to death the other day, but I'm just saying...
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  #8  
Old 08-31-2009, 05:29 PM
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Just publish and distribute a 1 page study guide for your customers that want to do their own filtering. Explain to them they must pick the SF and age range from the menu, using their knowledge gleaned from your study guide and other sources.

Do that, & I'd give the USPAP seal of approval to the process. Of course, after reading your study guide, some might think they are on the road to certification & a back-up career
  #9  
Old 08-31-2009, 05:33 PM
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JSmith43 JSmith43 is offline
 
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Don C & I had it out on this topic a few years back. I think his point, respectfully taken by me, was something like an 800 pound gorilla can open up a can of whoop***** on a 500 pound gorilla any time it wants

Maybe he will read this and chime in, since this may not be how he recalls the discussion & it might take forever to search it down.

Edit: I found the thread, back in 2005. It was a mini riot! Here is one of the livelier pages:
http://appraisersforum.com/showthrea...t=91974&page=3

Last edited by JSmith43 : 08-31-2009 at 05:52 PM.
  #10  
Old 08-31-2009, 05:53 PM
LI-Appr LI-Appr is offline
 
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Hey Mentor I still want to know who exactly wrote USPAP. I mean names and corporate affiliations. I wonder how much input appraisers have had. Compared to the influence of large title companies and AMCs. Which are probably all owned by or in part the same Company. Does 1st Amer ring a bell. Same goes for 1004mc and HVCC. We will never know.
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