2055 Question.

[Pamela Crowley (Florida)]

Thanks Bob and others. Paying attention to ONLY the MINIMUM standards of USPAP WILL get you into trouble!!!! Lots and lots of other things to pay attention to. READ what you are signing! Ignorance of what you signed is not a valid defense after you've signed it.

 

[Mike Garrett RAA]

Show me on the Fannie Mae 1004B (6-93) Statement of Limiting Conditions and Appraiser's Certification where it says "appraiser must measure the subject property"??????.

I still say you do not have to inspect the property, measure the property, photograph the property, or submit your appraisal on a form of any kind. You are; however, responsible for your appraisal and must comply with USPAP and applicable state regulations, rules, and/or laws.

Lenders can make all kinds of requirements, make you jump through hoops, and even refuse to pay you. You decide who you will work for, what the scope of the work will be, and what form you will use to report your appraisal on. It's your business, it's your license, and it is your butt if you screw up.

Have a nice day

 

[Bob Ipock]

# 2 ON PAGE 1 OF FANNIE MAE FORM 439



It says you have provided a sketch and aproximate deminsions

 

[Carnivore]

If you carefully read para #2 of the 439 you will understand it to read that you have provided a sketch with approximate dimensions.

That dos not mean you measured the subject. It means you provided a sketch of which could have come from your measuring or from a tax card or from a set of plans or another source.

The 2055 db form says "ANY required sketch" . This means you only put it there necause someone or something required you to do it. For example your own scope of work and developement may have necessitated a sketch to demonstrate obsolesence.


NOTE: This may not be prudent or responsible or very professional but it is the minimum requirement.

 

[Charlotte Dixon]

For goodness sake, measure! How much time have you spent measuring? How much time are you wasting hanging over your computer trying to figure out ABOUT how many sq.ft. the pig has? How confident are you that you're GUESSING right? With all the fancy measuring devices out there (I'm still a tape measure person) it can't take that long. Forget that you're being paid less, so that's why you're not measuring. Increase your fee to figure that measuring in. There's nothing like peace of mind and knowing that you did your best. In my opinion, not measuring is just one more thing to worry about.

Someone asked has anyone gone to court and been asked how many sq.ft. a dwelling has if the report is a 2055. Count us. One in our office did a 2055 Interior and was questioned.

 

[Carnivore]

Charlotte,

The original question was wether one was required to measure or not. The question was not phrased to find out if one should measure. Since we all strive to be the best we can be it makes sense to know all the rules and guidelines as well as we can.

Some times it is not possible to measure for many good reasons. Other times it makes sense NOT to measure. For example: A set of plans on a new house that has a very complex design with many levels, curves and angles is far more accurate than you and your 100 ft tape.

Another example is a severly fire damaged house. The less time spent inside or outside the better.

Simply the NEW USPAP gives us this latitude, finally.

 

[Charlotte Dixon]

Originally posted by Andrew - Charlotte@Jun 2 2003, 07:18 PM
Charlotte,

The original question was wether one was required to measure or not. The question was not phrased to find out if one should measure.

I stand corrected. We're not required to measure. Sorry, I took off in another direction. We're not required to draw in rooms, either, but I do that. I do more than I should, lots of times, but it's peace of mind for me.

 

[Wally Jones]

All I know is............I sat through a l-o-n-g day yesterday while the state appraisal board showed a whole bunch of folks why they were being fined, suspended and revoked. Many of the cases involved discrepancies in gross living area. In some cases, the measurements shown on sketches were different in the copy of the report sent to the client and the report in the work file. Some appraisers said they took the data from the public record, some said the trainee measured the house, some said they used multiple listing service figures. The result was the same. These appraisers are now poorer, have to spend their spare time attending continuing education and, in three cases, will never again appraise in this state.

Funny. I never heard any of their attorneys shout out, "But USPAP says they don't hafta measure!".

So, I reckon I'll keep measuring every chance I get. Even if I don't have to. B)

 

[Bob Ipock]

Wally,


EVERY appraiser in the country needs to attend a few state appraisal board meetings EVERY year.

It will make you a much more careful, thoughtful, informed and better appraiser.

I have watched a lot of folks swager in and then leave with their tail between their legs.


Some of the best lessons I ever learned in life have come from problmes that other folks had to endure. Being pro-active beats being re-active. Learning ahead of time about things to avoid, improve on, change and study can prevent a lot of grief.

"The expectations of the participants in the market............and the appraiser's peers actions" may well be the standrads we are judged by. (This comes from the 7-Hour Student Manual for the 2003 USPAP Update, page E-6)

Like you, I will continue to measure because I believe it is expected and commonly done by my peers.

 

[Charlotte Dixon]

Bob & Wally.....I concur.

As a member of our State Appraisal Board since January, I have a whole new outlook on the value of my appraisal license. We've had 1 hearing which resulted in the appraiser being unable to practice in our state for 3 months, plus having to take a USPAP course in a classroom setting. 3 months is a long time to ask your clients to wait, not to mention if the appraiser is licensed in other states, those states are notified. In addition the appraiser's E & O insurance will likely increase. That was a mild punishment. We have another appraiser's hearing scheduled for June. This is serious stuff, folks. I, too, would encourage you all to attend your State Appraisal Board meetings, at least once. You'll come away re-evalutating yourself, your appraisal techniques, USPAP and your work files. For hearings, the Deputy AG is present plus the state's attorney, the attorney representing the appraiser, an expert witness, other witnesses, if called, the state's investigator and the state appraisal council, which ultimately decides if there is cause for reprimand.

And yes, square ft. living area DOES come in to play, as do a few other issues. "Not Required To Do That" because of this, that or the other, is not an excuse when you're in hot water.

If any of you are interested in serving on your state's appraisal board, make it known. It's a government appointment, pays little and they probably need your help.