Example Appraisals

[PhiloFarnsworth]

I just got a request from a local bank to apply to be on their approved appraisal list. One of the requests is to supply several appraisal examples. What should be taken out of such reports in order to comply with confidentiality rules?

 

[Mark K]

Anything that identifies the parties to the transaction, the subject property, and the client.

 

[Mike Garrett RAA]

And by the time you redact everything the report is basically worthless for evaluating you as an appraiser.

 

[Riick]

I used to have 5-6-7 sets of these, ready to go out, all they needed was postage & a cover letter.
Choose the reports carefully, then go thru them with a fine-tooth comb.
11234 East Mulberry Rd -becomes- zzz East Mulberry Rd - notice you can't even get a sense of what block
Put in a NEW map and move the subject over a block or three, leave any subject front or street photos out, or use similar property

 

[CANative]

Look it up in USPAP... it's in there.

The best way is to get a clients permission to use their report for a work sample. It's about 50/50 on them agreeing in my experience.

 

[JTip]

Choose the reports carefully, then go thru them with a fine-tooth comb.

You send perfect reports, they will expect perfect reports. You are not perfect.

I got on with a local bank recently (through AP) and they requested three samples. Two of which had corrections, addendum on page one, showing I am human and I do know how to properly address my minor mistakes.

 

[Rich Heyn]

USPAP prevents you from sharing assignment results. That means any opinion or conclusion. For example, if your analysis of the sales contract concludes or opines that it appears to be an arm's-length transaction, that is considered part of your assignment results. Your conclusion of highest and best use? Assignment result. Your conclusion as the the condition? Assignment result. Mike and CAN are correct.

 

[BRCJR]

Many violate the USPAP and send samples of their work without getting permission or redacting pertinent information.

Then when you get the Appraiser trying to do right they get the, "all the other Appraisers do it".

I actually got my job with a lender because I educated them about this matter when I was applying.

They said, "we need someone like you working for us". I asked when the interview was to be held.

 

[bnmappraisal]

One of the requests is to supply several appraisal examples.

I see this MANY times with many AMC's requesting (typically) 3 samples (CONV, FHA, "complex")

 

[Terrel L. Shields]

I always ask if they get the lawyers they hire to submit 3 title opinions before they give them the job.

I don't get many like that, but one bank that insisted I submit samples then changed names when holding companies traded bank branches. Asked for 3 more (after not giving me any work before)... I said no. A year later, they gave me several farms and a commercial building to value...no sample needed. Why? Because they couldn't find an appraiser to do it.