Date of Sale/Time - Format - Zero (0) or Blank ?

[Gerry Sauceda]

Since UAD started I've always left the Date of Sale/Time adjustment blank with no hiccups. I'm getting a stip from a client that wants a (0) entered in that field to show that the appraiser has considered the adjustment. Is this creep, a new requirement, or was I supposed to be doing this since 2010?

 

[glenn walker]

0 Since the beginning. Not Blank.

 

[Gerry Sauceda]

0 Since the beginning. Not Blank.

I thought that 0 was for aspects of the subject and comps that were different but no adjustment is made (subject site, GLA, etc). But Date of Sale is really not an aspect that can be technically "compared". Same with seller concessions - what if the assignment is a refinance. There is no contract, no concessions and no Date of contract.
I really can't find a stipulation in GSE's guide that requires a 0 for adjustments for this field.
Again, for ~15 years and for many, many clients I've always left the adjustment field blank when no time adjustments are warranted, with not a peep from anyone. I've also reviewed peer appraisals and have seen the same. No '0'.

 

[Mike Ault]

I thought that 0 was for aspects of the subject and comps that were different but no adjustment is made (subject site, GLA, etc). But Date of Sale is really not an aspect that can be technically "compared". Same with seller concessions - what if the assignment is a refinance. There is no contract, no concessions and no Date of contract.
I really can't find a stipulation in GSE's guide that requires a 0 for adjustments for this field.
Again, for ~15 years and for many, many clients I've always left the adjustment field blank when no time adjustments are warranted, with not a peep from anyone. I've also reviewed peer appraisals and have seen the same. No '0'.

There isn't a requirement for one. You are correct.

 

[glenn walker]

Then die on that hill and be done. Lol

 

[alpineinc]

Same. One client has been asking for it, on an occasional report here and there lol. All my other clients, not a peep about it. Someone made it up somewhere or issued a "directive" about it.

 

[TerryRohrer]

Then die on that hill and be done. Lol

If you have ever done an appraisal, did you ever say no to a client for any reason? Clearly, you haven't died on any hills so I'm guessing you never did say no, whatever the request.

 

[sputnam]

It's a UAD requirement that you enter a 0 if the description of the comp differs from the description of the subject. Some of your client's care because they are selling their loans to GSEs. Some of your client's don't care bcause they aren't selling their loans to Fannie/Freddie.

 

[ZZGAMAZZ]

It's a UAD requirement that you enter a 0 if the description of the comp differs from the description of the subject. Some of your client's care because they are selling their loans to GSEs. Some of your client's don't care bcause they aren't selling their loans to Fannie/Freddie.

That factor is obvious, but the dubject date of sale cell isnt populated so the issue is murky...

 

[sputnam]

That factor is obvious, but the dubject date of sale cell isnt populated so the issue is murky...

If you are using any of the major appraisal form software, you have a built in checker... use it.