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Appraisal log questions????

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Jack Vines

Thread Starter
Freshman Member
Joined
Jun 16, 2002
I have found a mentor here in Oklahoma and so far we have done about 5 reports. My question is on the log sheet for my hours, Do I need my :?
supervisor to sign just the log sheet or does he need to sign my report also? Right now as he is doing his report I am also doing one of which he takes and reviews and shows me what I am doing.as to right or wrong.
I know I can't put down any more then 8 hours on each report but I am spending about 10 hours and more counting all the time at the courthouse and the time to travel to inspect the property. The 2,000 hours is going to take a while to get there I want to make sure that my time will count the way that I am doing it. :) Thank's to all who reply.
 
A

Anonymous

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Jack,

The 8 hour time limit that you mentioned does not exist. You can put down the exact amount of time you spend per appraisal on your log. This will include: preparation, travel time (to and from the property), time at the property, time spent at the courthouse, typing the appraisal, and any other time directly put into completing the appraisal. It is completely understandable that it takes you longer than average to complete an appraisal. After all, you are new to the business. However, in the future, your time for each appraisal will decrease because you will get faster at all aspects of appraising. This was brought up at a meeting of the Appraisal Board Continuing Education committee 2 months ago in Oklahoma City.

New regulations have been passed for trainees and supervisors in Oklahoma. You should contact the Oklahoma Appraisal Board and request a copy of these regulations.

Best Regards,
 

Jack Vines

Thread Starter
Freshman Member
Joined
Jun 16, 2002
Thank's for the reply Matt , would you have a copy of the new regulations
I have tried the Ok Appraiser Board web address but they don't have anything about the new regulations. If anyone else should have a copy
would you please email or post a copy of the new regulations. :)
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
My understanding from their newsletter was they generally allow 12 hr for an appraisal plus driving time. I would suggest both signatures need to be on the report. Explicit description of what you did.

AQB is recommending to states to tighten up the requirements...not that i think it makes a hooey and a half-hitch about anything.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Boy are they generous, Colorado allows 4 hours per assignment.
 

Jay Bartholomew

Freshman Member
Joined
Apr 15, 2002
:roll: Hi Jack; I just started with an appraisal firm here in Wisconsin. A couple of people here just kept a record of all the reports that they had done with the supervisor. When they had over 500 hours they just sent in the report logs with a letter stating the name of the supervisor and what company they work for. Two of the new appraisers did it this way without any trouble. Then they both passed the National exam the 1st time. I hope that I can do the same on the exam. Working over 11 hours a day the report log is going to be filled by next week. Never ending appraisal reports! Good Luck!
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
My sub finally has got around to applying in Ar for a certification. He has to submit 10 appraisals of the boards choice. They picked 4 from as far away from his home as possible, they picked the very first one he did, and rest from the last 12 mo. from which they will pick one to be formally reviewed.

I insisted on going back over them and I cannot believe some of the mistakes. Typos, inappropriate broiler plate, blank fields, and for me, the co-signatory, fully one-half incorrectly state in one part that I did inspect or somewhere else that I did not. Whacko remaining life answers. Two failed to state the SF on the first page, one failed to state the bathrooms, poorly defined neighborhood boundaries, and one even had the wrong county....after 3 years you would think this could not happen, and this was one of the last reports he did. I told him not only to fix it for the board but to resubmit a new report to the client....embarassing and frustrating. Had I nitpicked these reports at the time he did them and I reviewed and signed (and I do catch quite a few mistakes but I am concentrating on the valuation) I would likely have spent more time on them than simply to have done the report myself.

Even money says his interview with the board will put a knot in his stomach and mine.

ter
 

Judy Whitehead (Florida)

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Florida
I always wondered how the states tallied up "hours" of experience. In Florida, our trainees have to perform at least 120 appraisals in two calendar years before taking their second course and sitting for the state exam. That seems to make better sense to me - especially the two calendar years. Of course, the downside to it is......the trainee could do all 120 in the last month and not get two years of training. Those are ethical concerns about the supervisors, of course.

The trainees then submit their appraisal log (the state tells you how to fill it out) along with their class graduation ceritificate and the "pass" certificate from the state. It is my understanding that most trainees are audited and must submit a random selection from their log if asked (and they usually are). I guess I'll find out in a year when my son goes through it.
 
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