UAD 3.6 discussion

[David S]

Hi,

Does anyone have some comment(s) about new UAD 3.6? Seems overwhelming? Too many iterms or boxes to fill out?

 

[alebrewer]

Hey, David. Welcome to the poop parade. LOTS of comments about the new 3.6 all over the forum. Not very many positive ones at this point...

 

[David S]

Seems UAD 3.6 make us across over many other parties' border line:

1. Report should state the ownership rights, water right, mineral right etc. Are we title people to qualify to determine this?
2. Report should state roof current age. Are we qualify for roof inspection?
3. Identify Hazard Zone. Besides flood map, where and how we can get the information for fault zone, landslide or Superfund site? Ask realtor? What about refinance appraisal?
4. State property is at private road or public road? For the subject, we can tell from plat map. Where we can get the comp(s) with private road as well? Pull plat map for every comp?
5. State internet speed for the subject. How can we get know this? Ask owner? Are we qualify for home inspection?

List go on and on....

 

[Fernando]

I was reading my engagement letter and this client wants its appraiser to be within XX miles from subject to get the assignment.
Knowing it's "strict" guidelines, when new UAD 3.6 becomes a reality, I predict less appraisers and longer turn around time to do the tedious reports so I can ask for higher fees.
With this order, I asked for $100 more and I got it. It will be like 2021 in which I can ask for $1000 fees again when new UAD 3.6 is forced upon us.

 

[Tom D]

Gotta go with the normal fee at first, then after screaming at your form, decide what amount will soothe your new high aggravation level.

And every appraisal they want done from scratch, check box by check box. But automate everything else. The inspection boxes for an overly anal inspection, but the value? Let's zoom thru that with all our new AI tools, no brain needed.

Just seeing the subject minutia that we now have to fill in extra, i'm working on my next life plan. Although i might still do a couple a week to keep in touch with the market.

 

[alebrewer]

I recommend pressing for higher fees from the onset. The lending side of the house is prepared for fee pressure.

 

[Jlerner04]

What a **** show. I'm doing my 2nd 3.6. Listing all the comps and listing in one small box, makes it look like one paragraph. Can't use spark or any 3rd party data. Did The GSE let any use appraiser input?

 

[David S]

What a **** show. I'm doing my 2nd 3.6. Listing all the comps and listing in one small box, makes it look like one paragraph. Can't use spark or any 3rd party data. Did The GSE let any use appraiser input?

So you have to manually input all comps' information into the grid? What about Neighborhood boundary? in UAD 2.6, we have more flexibility to envelope by nature boundary, like street, highway, river, railroad, bridge or even by zipcode, city etc. Now online automatically set for us? Then, it could be a couple of good comps missed out.

 

[Surf Cat]

Can't use spark or any 3rd party data.

Deal killer for me. Once you've used Spark and had the grid and subject all filled out for you, along with the market data with charts and graphs, along with the cost approach..... with all this done, you really do get to concentrate on "what we do best" which is determining the market value.

Filling out the 3.6 from scratch each and every time is like a neanderthal hitting a big rock with a small rock trying to create the wheel.

 

[J Grant]

Deal killer for me. Once you've used Spark and had the grid and subject all filled out for you, along with the market data with charts and graphs, along with the cost approach..... with all this done, you really do get to concentrate on "what we do best" which is determining the market value.

Filling out the 3.6 from scratch each and every time is like a neanderthal hitting a big rock with a small rock trying to create the wheel.

Quick source or other programs like it can autofill the comp data on 3.6 with Almamode. It is not ready yet to integrate but they said it will be by Sept.