1004 Re-write: To Include Different Sow (hybrids)

[Eli]

You can bank on the government taking it over. Mark my word. Private business made their bed. They can lay it.

I am referring strictly to govt guaranteed mortgage work.

 

[BRCJR]

Why would an appraiser need a hold harmless for that? How would the appraiser be liable for the negligent or fraudulent acts of others with or without a hold harmless?

You answered my question with two questions.....

As an appraiser you are charged with using verified and reliable data. You cannot verify what the Inspector did or did not due at the inspection but are to rely on it for the Hybrid conclusion and results. I know this is the same as using a trainee, for example, but I know and have confidence in that individual because I work with and mentor them on a daily basis. Different type of relationship. I am liable for their actions as a supervisor.

So your answer is no?

 

[timd354]

You answered my question with two questions.....

As an appraiser you are charged with using verified and reliable data. You cannot verify what the Inspector did or did not due at the inspection but are to rely on it for the Hybrid conclusion and results. I know this is the same as using a trainee, for example, but I know and have confidence in that individual because I work with and mentor them on a daily basis. Different type of relationship. I am liable for their actions as a supervisor.

So your answer is no?

So all data that an appraiser relies on must be verified? That is simply not the case. I don't see appraisers going out and measuring the comps themselves (appraisers rely on the public records and/or MLS for this data), I also don't see appraisers personally inspecting the interior of the comps before assigning a condition and quality rating for each comp.

While USPAP Standards Rule 1-4(a) requires the appraiser to reconcile the quality and quantity of data available and analyzed within the approaches used and Standards Rule 2-1(c) requires the appraiser to "clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical conditions and limiting conditions used in the assignment" there is nothing in USPAP that requires the appraiser to guarantee or personally verify the accuracy of all of the data that is utilized in the appraisal report.

 

[djd09]

USPAP states the appraiser cannot 'commit substantial errors'. But they will keep trying to scope away responsibility. Some will drink the kool aid.

 

[TRESinc]

As for forms, there is little doubt in my mind that the "form" will be on-line, in the cloud and you may not even have a real copy available to you, especially without some specialized software which you will have to subscribe to for the following five years after you retire. Deal killer for me.

lots of assumptions however you are wrong about not having a copy available to you. anything that is displayed on a computer screen can be captured at any time. hell, even win10 has that feature built into it.

 

[Terrel L. Shields]

so you use the snipping tool and cut and paste right? real handy

 

[TRESinc]

so you use the snipping tool and cut and paste right? real handy

gets the job done and prevents one from not having a copy, doesn't it?

 

[Terrel L. Shields]

Projection on a white wall with a camera obscura and using your phone to photograph it will too....

 

[TRESinc]

Projection on a white wall with a camera obscura and using your phone to photograph it will too....

i think that option only happens on chicken coop appraisals, but either way you still have a copy.