John Wilson
Junior Member
- Joined
- May 1, 2003
- Professional Status
- Certified Residential Appraiser
- State
- Illinois
Just got an e-mail from Alamode calling out a new ASB draft that would eliminate the Departure rule. Sounds good to me...........
"The Appraisal Standards Board (ASB) proposes to add a new "Scope of Work" rule to USPAP, and released a First Exposure Draft and request for written comments on July 15. "When USPAP was first developed in the late 1980s many real property appraisals were based on a 'standard' scope of work, with little variation," the ASB said. "In fact, the term 'scope of work' was not widely used, because the scope varied so little from assignment to assignment." Since then, it said, "scope of work" has broadened as a concept in the marketplace but not in USPAP."
"The Exposure Draft proposes the elimination of the Departure Rule, the labels "Complete Appraisal" and "Limited Appraisal," "Binding Requirements" and "Specific Requirements," and modification of Standards 1, 3, 4, 6, 7 and 9 in addition to a new Scope of Work Rule. "
"The proposal is to replace the exceptions mechanism (departure) that currently exists in USPAP with a set of minimum standards (core) that must be followed," the ASB said. "In other words, USPAP will define the floor (minimum standards), not the ceiling ('one size fits all' requirements). The appropriate scope of work will continue to be linked to the production of credible assignment results."
The ASB said that the changes would not be incorporated into the 2005 USPAP, since it anticipates more exposure drafts on the issue. See the full Exposure Draft here, including instructions for submitting written comments. "
Link to Draft
"The Appraisal Standards Board (ASB) proposes to add a new "Scope of Work" rule to USPAP, and released a First Exposure Draft and request for written comments on July 15. "When USPAP was first developed in the late 1980s many real property appraisals were based on a 'standard' scope of work, with little variation," the ASB said. "In fact, the term 'scope of work' was not widely used, because the scope varied so little from assignment to assignment." Since then, it said, "scope of work" has broadened as a concept in the marketplace but not in USPAP."
"The Exposure Draft proposes the elimination of the Departure Rule, the labels "Complete Appraisal" and "Limited Appraisal," "Binding Requirements" and "Specific Requirements," and modification of Standards 1, 3, 4, 6, 7 and 9 in addition to a new Scope of Work Rule. "
"The proposal is to replace the exceptions mechanism (departure) that currently exists in USPAP with a set of minimum standards (core) that must be followed," the ASB said. "In other words, USPAP will define the floor (minimum standards), not the ceiling ('one size fits all' requirements). The appropriate scope of work will continue to be linked to the production of credible assignment results."
The ASB said that the changes would not be incorporated into the 2005 USPAP, since it anticipates more exposure drafts on the issue. See the full Exposure Draft here, including instructions for submitting written comments. "
Link to Draft
