USPAP guru assistance requested

[CANative]

FAQ 36 in the back of USPAP 2010-2011 states that an appraiser need not disclose a comp check done on a property. Isn't a comp check considered a service?

 

[Rich Heyn]

Under the new disclosure requirements in the ETHICS RULE, I believe an appraiser must disclose a comp check as a prior service. However, the question addressed by the FAQ deals with the necessity of disclosing a comp check as having provided a thing of value to procure an assignment.

If you were to say that the answer was incomplete and should have addressed the disclosure requirement for prior services, I would not argue with you.

 

[CANative]

I saw the difference. I just thought it was odd that they didn't take the opportunity to kill two birds with one stone.

Go to the urgent forum and see a similar issue. My question in that thread was "what if the client wants a more detailed description of the services?" and the response so far has been it's an unacceptable condition and the assignment should be declined. But as the rationale for this disclosure is to allow the client to determine if a conflict of interest exists then how can they determine this without knowing the nature of the service?

Who really suggested this revision to USPAP? It seems slanted to certain user types.

BTW... did Denis say "Hi" for me today?

 

[Rich Heyn]

I saw the difference. I just thought it was odd that they didn't take the opportunity to kill two birds with one stone.

Go to the urgent forum and see a similar issue. My question in that thread was "what if the client wants a more detailed description of the services?" and the response so far has been it's an unacceptable condition and the assignment should be declined. But as the rationale for this disclosure is to allow the client to determine if a conflict of interest exists then how can they determine this without knowing the nature of the service?

Who really suggested this revision to USPAP? It seems slanted to certain user types.

BTW... did Denis say "Hi" for me today?

I think it is odd. I'll check the other thread. I don't know who suggested the revision. Denis did say hi for you today. You are becoming too much of a USPAP weenie. Get a life

 

[Mike Boyd]

You are becoming too much of a USPAP weenie. Get a life

HAHAHAHA! I agree!!!

 

[Calvin the Airedale]

This is the type of FAQ that diminishes respect for USPAP.

 

[Stone]

HAHAHAHA! I agree!!!

And Dad has spoken!

 

[Terrel L. Shields]

This is the type of FAQ that diminishes respect for USPAP.

Exactly...and perpetrates the myth that appraisers somehow have to do "comp checks" and that these are "free". It is idiotic from the first word on.