Draft Reports

[PropertyEconomics]

I remember the good old days when a "draft" was a beer .....

 

[JSmith43]

In either case, I would think that acknowledging the initial report may be subject to correction of minor errors and/or expansion of the original SOW would contribute to explaining why there are 2 or 3 versions of the same report.

Good tip for form fillers, since multiple UW stipulations are becoming the norm.

What about that VA requirement for a heads up at some point (where the range of value doesn't include the point value required for the transaction to work out as anticipated)? Isn't that a request for a verbal draft?

 

[The Warrior Monk]

What about that VA requirement for a heads up at some point (where the range of value doesn't include the point value required for the transaction to work out as anticipated)? Isn't that a request for a verbal draft?

It is a request for and oral appraisal report...reporting rules apply,

 

[JSmith43]

It is a request for and oral appraisal report...reporting rules apply,

Let me rephrase the question: If Godzilla had a cage match with the Incredible Hulk, which one would win?

Let's assume the appraiser is not in the cage. That would be a fight over the feed bowl question.

 

[The Warrior Monk]

Let me rephrase the question: If Godzilla had a cage match with the Incredible Hulk, which one would win?

That's actually an easy one...Godzilla. Fire-breathing provides a distinct advantage.

 

[PL1957]

That's actually an easy one...Godzilla. Fire-breathing provides a distinct advantage.

I actually think the Incredible Hulk would use his speed and agility to stay behind Godzilla. From what I remember, Godzilla was into lumbering and had limited mobility. I think his short, stubby arms would definitely be a disadvantage.

 

[Mr Rex]

It would depend on which one had an appraiser with a knowledge of USPAP in their corner versus a Skippy in the corner and what the rules of the cage match were. In an arena with few rules and lax referees, the Skippy coached team would take Godzilla or Hulks lunch money and give him a wedgie. Its all over the news and in re-runs now.

 

[RSW]

I think it would be Incredible Hulk. You would not like it If he got angry!

 

[Ken B]

Good tip for form fillers, since multiple UW stipulations are becoming the norm.

What about that VA requirement for a heads up at some point (where the range of value doesn't include the point value required for the transaction to work out as anticipated)? Isn't that a request for a verbal draft?

The guideline stipulates that the appraiser is to call the POC and request information that the contact may consider to be pertinent to the valuation of the subject. Value is not to be discussed with anyone other than the SAR or LAPP UWer.

Since no value is being reported to the contact, there is no appraisal, only a request for market data.

 

[JSmith43]

The guideline stipulates that the appraiser is to call the POC and request information that the contact may consider to be pertinent to the valuation of the subject. Value is not to be discussed with anyone other than the SAR or LAPP UWer.

Since no value is being reported to the contact, there is no appraisal, only a request for market data.

Let me get this straight, the appraiser will only request information when the value is low, and only talks to UW's which somehow doesn't count as communication of a preliminary result?

A not so secret heads up or semi-secret handshake that communicates the value is coming in low unless you can save me with data I bet you don't have?

The Godzilla position. Now, what is the USPAP/state board position?