How can anyone change an original "anything" and still have an original?
Cannot.
Material Fact: "Current (in existence) As of the Effective Date"
Hence the 3 methods of updating a completed, delivered, Appraisal. -
new assignment.
Active State Board Enforcement, or lack thereof for whatever the reason (lack of complaints, lack of manpower, budget$ etc.), is not germane to the discussion, though clearly,
it appears the ASB should have emboldened "
AS OF THE EFFECTIVE DATE OF APPRAISAL in Red.
1-5 says what it says - the fixed date in time is a Material Fact integral to the Value Opinion developed, reported, and opined .........
As of the Effective Date of Appraisal.
The Value Opinion opined in the
completed report is based on what it was,
when it was, and the
contract data which existed "CURRENT" as of the EDA -
"was what it was".
A
new Contract
"is what it is",
did not exist as of the original EDA; revising the
original report is an intentional distortion of the Material Fact which existed
AS OF the original EDA.
Similarly, whether an Appraiser charges a fee is not the issue. SOW for the NEW assignment - is.
____________
A New Assignment of a Prior Assignment
Regardless of the nomenclature used, when a client seeks a more current value OR ANALYSIS OF a property that was the subject of a prior assignment,
this is not an extension of that prior assignment that was already completed – it is simply a new assignment.
