Evaluations

[glenn walker]

I can hold many different licenses and none prohibits me from using them for different purposes. But I disclose what license I'm operating under.

As a Broker A CMA or BPO was done under and as a broker. Just because I also held an appraisers license did in no way make those appraisals.

Disclose and Openly declare what licences your practicing under and when something is not an appraisal make sure everyone knows.

 

[Terrel L. Shields]

Appraisers do not own the term "Market Value" nor do RE appraisers even own the term "appraiser". We would have been better served if FIRREA had designated us as " real property valuers" or "chartered property surveyors" - and left the generic meaning of appraiser alone.

 

[glenn walker]

The IAEG require an evaluation to develop an estimated market value.

View attachment 99502

Estimated is the Key Term !- Once you are Certifying an "Opinion of Market Value" you've done an appraisal.

 

[Mejappz]

Estimated is the Key Term !- Once you are Certifying an "Opinion of Market Value" you've done an appraisal.

It depends on the state in which you are practicing.

 

[glenn walker]

Actually FRT doesn't require much of anything on anything below the Deminimus..lol

 

[J Grant]

Anyone can offer a medical diagnoiss or a legal opinion as well - they can't represent them selves as a lawyer/member of the bar or an MD licensed physician if they are not -

 

[Mejappz]

The bottom line is that an evaluation is not classified as an appraisal in certain states. As of the last update, there are 15 states where appraisers can complete an evaluation without complying with USPAP.

 

[glenn walker]

Appraisers do not own the term "Market Value" nor do RE appraisers even own the term "appraiser". We would have been better served if FIRREA had designated us as " real property valuers" or "chartered property surveyors" - and left the generic meaning of appraiser alone.Ag

Agree the general public tends to believe a CMA or BPO is an appraisal because it gives an estimate on price.

Only appraisers think in terms of value but again that was defined as legalize to seperate price opinions from Certifed Appraisals.

Just like in legalise the attorneys wanted us to use the word "observed" the property- Not Inspected the property.

One in theory has less physical hands on than the other, even though appraisers in the fields will say they physically inspected while they simply walked around it observing it...lmao

 

[BRCJR]

In my opinion, if the appraiser is a licensed appraiser and signs as an appraiser, they are bound to follow USPAP when they offer an opinion of value, regardless of the label given to the report.

Evaluation is a label, a name someone gave to this product. How did they state the value - did they call it a value estimate? An opinion of value? I have never seen an evaluation, but USPAP compliance seems so simple it is puzzling why someone would not follow it. Create a work file, disclose prior sales and any prior service, a few things like that and a report is USPAP compliant - as a format anyway. USPAP addresses ethics and peer practice, which is less tangible.

An Appraiser that signs an Evalution acting as an Appraiser completed an appraisal, I think.

An Appraiser acting as an Evaluator should not sign the report with their appraisal credentials.

The word appraisal should appear at least three times, in my opinion.

For example,

This form is designed to be used to make a Real Estate Evaluation Report as defined by the Federal Reserve Board and other federal agencies for transactions which do not require a real estate appraisal.

This is not an appraisal performed in accordance with the Uniform Standards of Professional Appraisal Practice

 

[djd09]

why follow USPAP...it is useless