Can't Make Value, Charge A Trip Fee?

[CANative]

Oops... sorry Doug. I read your post again and now realize you didn't have a problem with price/value. I take back the first lines of my previous post.

 

[CANative]

Agree with everything, except

that the price is in line with everything else around it

If this is coming from a licensed appraiser, then that is an appraisal.

Maybe I'm wrong. I don't have as much experience as others on the forum.

How do you like my new avatar?

 

[Chris Colston]

Originally posted by Pamela Crowley (Florida)@Dec 14 2003, 05:35 PM
Greg did a very good job describing how it can be done legally.  I know Chris is doing these and I respect her and know she would only do them as long as they are USPAP compliant.

I only do them (DESKTOP appraisals) for one client and the form is available in WinTotal. It has limiting conditions and is USPAP compliant. I only do them with very good detailed available information. MLS photos, etc. Otherwise I have the order upgraded to a drive-by with interior inspection.

 

[DB]

First things first .... Greg the avtar rocks!! Is that you? or is that Angus?


Back to the real deal ..... we have gotten away from where this was headed and I take part of the blame ..... What Greg and I were originally talking about was lenders who call and ask us to look up some comps and let them know if we think we can hit the value .... we agreed ... no freebies ...... Then things headed in another direction with the "underwear appraisal" and things got whacky ..... Please let me explain that what I am calling an "Evaluation" is the form FW69 and it requires that I go to the property being evaluated and take photographs and do a NH analysis, but does not require that I include photos of the comps that I choose nor does it ask for a value opinion ..... just a probably selling price .... it is not a true "underwear appraisal" ..... (sorry Chris ... I told you I am not into PJ's :lol: )

Anyway ... does this clear anything up or am I just digging it deeper?

 

[Pamela Crowley (Florida)]

Doug,

How about sending that form in a pdf to me. We've had other discussions here about a bank that was doing these with "THIS IS NOT AN APPRAISAL. THIS IS AN EVALUATION OF REAL ESTATE ONLY" on it but, after discussing it, we here decided it WAS an appraisal. Not sure if this is the same thing or not.

*************************

Just found the Form FW 69 in WinTotal.

Sure looks like an appraisal to me!!!!! You're putting in comps, doing adjustments,

STATING A SPECIFIC $ VALUE

I strongly recomment you send this form in to your state board for a determination. Can't imagine they wouldn't consider this an APPRAISAL if it's completed by an appraiser. WITHOUT an appraisal license, anyone can do these. WITH an appraisal license, this form is an appraisal. Having someone call something else doesn't change what it is. Sorry, bad news Doug.

 

[DB]

Well that settles that ..... I have been doing them to USPAP standards and cheching the box Yes in the proper place .... I also do a letter explaining the outcome and specify that this is not a statement of value but of probable selling price only and any other use is strictly prohibited and will void the report.

USPAP is strictly adhered to ..... but if my wife completes the report, she could sign it as an "inspector" and USPAP would not apply .... before this goes any further ... I have never had my wife sign off on anything, although I know those who have.

Me, I'm just way to chicken to tempt the fates by doing something that can be questionable. I'm 41 years old ... not like my back and my knees could take standing up all day flipping fries. :lol:

 

[Pamela Crowley (Florida)]

You could make these USPAP compliant by adding all the correct addenda. When, as an appraiser, you give any value or a range of value, you have done an appraisal. Doesn't matter what anyone else want to call it. Doesn't matter what form they want it on. As an appraiser - providing a value - it's up to you to make your complete report USPAP compliant.

 

[Bob Ipock]

The article below was recently published in the NCAB Appraisereport. It concerns just one of the new "it is not an appraisal" forms that come out from time to time. Anyone can make up a form. A lender, appraiser, client, homeowner...you name it. It can say it is or is not this or that. If it calls for an appraier to give a value or range of value for an identified specific parcel of real estate...it is an appraisal. When an appraiser gives an opinion of value...they are appraising.



Appraiser Price Opinion:
It is an Appraisal!


Several North Carolina appraisers have contacted the North Carolina
Appraisal Board regarding correspondence they have received regarding a
product entitled an Appraisal Price Opinion.According to the correspon-
dence,this APO is not an appraisal and does not have to comply with the
Uniform Standards of Professional Appraisal Practice (USPAP).
Appraisers should be aware that,pursuant to the laws of North Carolina,
this APO is an appraisal.The correspondence indicates that since this
product is labeled a price opinion,and not an opinion of market value,it
is not subject to USPAP.Regardless of the wording used,anyone in North
Carolina who provides a price or value opinion on a specified property for
a fee of valuable consideration has done an appraisal,and must be
licensed by the North Carolina Appraisal Board.There is an exception to
the Appraisers Act for real estate agents who are licensed by the North
Carolina Real Estate Commission in performing a comparative market
analysis for compensation for prospective or actual brokerage clients.All
appraisals performed by appraisers in North Carolina must,by law and
rule,comply with USPAP.
In an FAQ regarding the APO,the company states,“An appraiser ’s
license cannot be suspended or revoked for information provided on an
APO because the scope definition for an APO gives the appraiser limited
liability.”This statement is absolutely untrue.The North Carolina
Appraisal Board can and will take disciplinary action against any appraiser
who violates state law,rules or USPAP when providing appraisal services.
The North Carolina Appraisal Board does not approve or endorse any
appraisal form.Appraisers are responsible for deciding whether a form
complies with USPAP,and should review Standards Rule 2 and Statement
7 for guidance if necessary.

 

[DB]

I see that ... This is form that is in my Appraise-It software ... and it is completed to USPAP standards .... but only by an appraiser ... anyone else can do it without regard to USPAP ....

Pam .. isn't that what we determined?

Greg? Comments?

 

[Pamela Crowley (Florida)]

Doug,

That form appears to be a lenders attempt to get around USPAP. Sure, anyone can do this form. If they want an APPRAISER to complete and sign this form, IT IS AN APPRAISAL. I don't care what anyone wants to call it. How many of these do they order from people that are NOT appraisers????? Do they even want one of these from someone who is not an appraiser?????