2024 USPAP - "Personal Inspection" definition revised

[Tom D]

if fannie, and now FHA, accept that original appraisal from a different lender, then isn't us doing it again for a different lender kinda gone with the wind now discussion.
live webinars are the best and easiest to do. it's like digital cameras, don't have to drop off the film everyday.

 

[DWiley]

I like Murfreesboro. I am trying to remember where Mark Lewis had his ASFRMA class I attended some 20 years ago. Maybe the Ag building on campus. My nephew got his BA degree there. I guess some of my ancestors didn't like it as well. Captured by Nathan Bedford Forrest himself at Thompson's Station.

I wish I had known about that class. It would have been great to take it locally from Mike. I worked with him a lot back in the day. Great guy.

 

[Tiffany Gibbons]

I wish I had known about that class. It would have been great to take it locally from Mike. I worked with him a lot back in the day. Great guy.

Moved to February 8 and 9th at Middle Tennessee Association of Realtors, I'm sure Mike will let you in as we have a bigger venue. You know the number, it's the same. Chicken and Barbeque just like old times, lol

 

[chad hampton]

Spoke with Bob our Local AQB Guy yesterday. He does a local in person USPAP Class. In his email you have to bring the following


1. New 2024-2025 7 Hour National USPAP Student Manual

2. New 2024 USPAP

3. New 2024 USPAP Reference and Guidance Manual

What is strange about this is that I, and not all but many others in my state were never notified by our state to order these manuals. The reason we have
to pre-order is because our state pays for all the above and they handle all shipping cost to each active appraiser. That disappoints me because although I retired my license is still active. I like getting together with all of my local appraiser friends. Times have changed. We no longer rely on one another to seek help on a tough assignment.

Oh, well. It's the way this industry has changed and it's not necessarily a good thing. We are a 100,000 +/- individual little islands.

I would have taken an in person class too, but those other manuals used to be provided to us (if I remember right?). I don't recall having to pay for anything besides USPAP in the prior 11-12 versions I've had to buy. I remember showing up to class an manuals being handed out. At this time I don't have one more dollar to spend on what they've turned into a gig job.

 

[DWiley]

Moved to February 8 and 9th at Middle Tennessee Association of Realtors, I'm sure Mike will let you in as we have a bigger venue. You know the number, it's the same. Chicken and Barbeque just like old times, lol

That does sound like the old times I did not know about this offering, so I signed up and took it in late December in the middle of some time off from my day job.

 

[Zoe]

Moved to February 8 and 9th at Middle Tennessee Association of Realtors, I'm sure Mike will let you in as we have a bigger venue. You know the number, it's the same. Chicken and Barbeque just like old times, lol

Oh, okay. Your a realtor also? LOL

 

[Zoe]

Woman of many talents.

 

[Zoe]

I hope the weather there is not as bad as it is in Memphis right now. It will be many no shows.

We are not used to this stuff. Largest county in TN has very few snow plows.

Many areas got about 6 inches of snow. 0-10 degree temps.

Yeah, water pipes bursting in many places.

TVA said cut everything off except necessity or we will start
doing rolling blackouts on electricity.

Most people locally got new digital electric meters recently where they can just punch
a button and knock the electricity out and then roll to a different area.

They don't warn you either or didn't last time. Like save your appraisal report before
we knock your power out.

On old electric meters, some people in last blackouts had old meters and Memphis Light

Gas and Water could not restart them automatically. One guy said it took him

7 days to get electricity back.

 

[Zoe]

Working RE: "Finally, the inspection must be performed as part of the scope of work for the assignment. For example, if an appraiser had made a personal inspection of a property six months ago and is subsequently engaged to perform a new appraisal on the property, the appraiser cannot certify that they made a personal inspection of the property unless they inspected it again as part of the scope of work for the new assignment."

Curiosity has me wondering about several particular past cases and how they would be handled with the new definition, if indeed it changed the way the article states.

Let's say you have already made a personal inspection of a property on 01/01/2024, and subsequently you are engaged in another assignment for the same property later in the month (call it 01/30/2024) for an estate. Under previous USPAP, you could state that you made a personal inspection of the property on 01/01/2024 and either 1) use the retrospective effective date of the same 01/01/2024 or 2) make the effective date current as of 01/30/2024 and rely on the past inspection with the EA that property is in same condition. Is the updated USPAP saying you cannot state that you made a personal inspection unless it was part of your present assignment, and to state such means you must revisit the property, or is the article reading more into the update than what was actually changed?

Either way it is new assignment. Idk anything else.

 

[Dale Floyd]

Moved to February 8 and 9th at Middle Tennessee Association of Realtors, I'm sure Mike will let you in as we have a bigger venue. You know the number, it's the same. Chicken and Barbeque just like old times, lol

Glad you are still able to come Tiffany, as I was afraid we'd lose a few because of the schedule change. Weather has been a pill this week, but it looks like nearly everybody is still coming.