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2008 signing rules

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tmines

Thread Starter
Freshman Member
Joined
Jun 11, 2007
Professional Status
Appraiser Trainee
State
Georgia
Where can I find updates about the new signing rules for the 2008?

I have an appraisal request that came in this morning, but I'm not sure if I can complete it and have it turned in by tomorrow end of day(It's a duplex).
 

Ultraviolet

Senior Member
Joined
Dec 31, 2002
Professional Status
Retired Appraiser
State
Arizona
What do you mean by "signing rules?" Rules vary by state for licensing, supervision and who may sign an appraisal report. What do your state rules say? Have there been any major changes that you should be aware of?

The 2008 changes affect all states differently; I would start with your state board website for information.
 

Ariba

Senior Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Colorado
Where can I find updates about the new signing rules for the 2008?

I have an appraisal request that came in this morning, but I'm not sure if I can complete it and have it turned in by tomorrow end of day(It's a duplex).

Why would you even contemplate accepting a semi-complex assignment with that kind of turn around time? How will you be able to: inspect the property, complete rental and income schedule, find and drive-by the comparables, verify closed sales with agents, verify zoning, and complete a credible appraisal report.

What do you think the lender would do if you accepted the assignment with a five-day turn-around time? :icon_idea:I doubt that they could find another appraiser to meet their time line.

Also, since you are registered as a trainee how can you accept this asignment without having a mentor involved. :shrug:

What do you mean by 2008 signing rules?
 
Last edited:

tmines

Thread Starter
Freshman Member
Joined
Jun 11, 2007
Professional Status
Appraiser Trainee
State
Georgia
Thanks for the responses from both of you.

AQB stated that as of Jan 1, 2008, only State Certified/General appraisers can supervise/sign for a trainee.

Ron, I know that I cannot turn it around that quick. That's why I'm trying to find out if there's been any updates to the new rules. If the dates been extended...

Ulatraviolet, thanks I'm going definetly check there.
 

PLCG

Member
Joined
Jul 12, 2006
Professional Status
Certified General Appraiser
State
Pennsylvania
The state is the final authority on this. I am in PA. Our mentors here are now required to send a note to the state when they take on a trainee. You might want to ask about that also. :)
 

Ariba

Senior Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Colorado
Effective January 1, 2008, a supervising appraiser must be either a Certified Residential or Certified General appraiser in good standing and not subject to any disciplinary action within the last two years. In addition, as of January 1, 2008 supervising appraisers will be limited to supervising a maximum of three trainees at one time.

Check you State for additional restrictions or considerations.

Also read, A Guide for Understanding the 2008 Real Property Appraiser Qualification Criteria.

http://www.appraisalfoundation.org/s_appraisal/bin.asp?CID=98&DID=628&DOC=FILE.PDF
 
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Annelle

Junior Member
Joined
Jan 26, 2004
Professional Status
Certified General Appraiser
State
Arizona
I'm suspecting your mentor is not Certified, and you are not quite sure what to do about it, knowing that you won't be able to complete the task at hand before Jan 1, 2008. Have you located another mentor? I'm not offering, just asking. Again, check with your state board for any rulings they may have.
 

tmines

Thread Starter
Freshman Member
Joined
Jun 11, 2007
Professional Status
Appraiser Trainee
State
Georgia
Annelle,You got it! He didn't pass the test. The other guy that committed to me, notified me this pass thursday that he didn't realize he couldn't supervise more than three trainees.
 

ZZGAMAZZ

Senior Member
Joined
Jul 23, 2007
Professional Status
Certified Residential Appraiser
State
California
Just like me to ask another question from out in left field; however, I'm trying to figure out USPAP one day at a time but I don't fully understand the relationship between the effective date of a current appraisal, and the date of the report.

If the subject of the OP was inspected by 12/30 and the report completed within 24 - 48 hours--which is possible if the municipality and the comparables' listing agents are available--couldn't this job be completed under the 2007 purview?
 

Ariba

Senior Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Colorado
If the subject of the OP was inspected by 12/30 and the report completed within 24 - 48 hours--which is possible if the municipality and the comparables' listing agents are available--couldn't this job be completed under the 2007 purview?

Yes, why not? As long as the appraisal is completed and signed on December 31, 2007.

However, a highly unlikely scenario since many real estate agents, public municipalities, management companies, and his mentor might be on holiday time. :icon_idea:

How about verification of rents and income statement. In addition, finding comparables for duplexes, at least in my market could be rather complex. Also, since tmines is a appraiser trainee, the mentor will have to review and sign the report. If he can complete the appraisal more power to tmines.

However, why would the mentor put his license on the line without having sufficient time to review the appraisal? :shrug:
 
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