Gridding sales with adjustments, must comply w/ USPAP?

[Jonathan Kim]

No value will be given and the sales may or may not be comps. What specific USPAP areas would cover this? I've read in their FAQ that merely providing comps is an appraisal. I would assume providing adjustments to sales (which may or may not be comps) would also fall into the same area. The reason is that you would be using your judgment as an appraiser in measuring those adjustments.

Second question: what about gridding sales without adjustments? Must that be USPAP compliant?

Thoughts?

 

[Lee Lansford]

No value will be given and the sales may or may not be comps. What specific USPAP areas would cover this? I've read in their FAQ that merely providing comps is an appraisal. I would assume providing adjustments to sales (which may or may not be comps) would also fall into the same area. The reason is that you would be using your judgment as an appraiser in measuring those adjustments.

Second question: what about gridding sales without adjustments? Must that be USPAP compliant?

Thoughts?

You have provided just enough information to raise my curiosity but not enough to provide a good response.

 

[Randolph Kinney]

Do you have a current copy of USPAP?

 

[NC Appraising]

Send them here:
http://www.trulia.com/homes/North_Carolina/Pineville/sold/29362-117-Olive-St-Pineville-NC-28134

Better than Zillow, it gives you active and recently sold comps, and you can drive by (streetview via Google) every comp and the subject. Let them do their own dirty work.

 

[The Warrior Monk]

No value will be given and the sales may or may not be comps. What specific USPAP areas would cover this? I've read in their FAQ that merely providing comps is an appraisal. I would assume providing adjustments to sales (which may or may not be comps) would also fall into the same area. The reason is that you would be using your judgment as an appraiser in measuring those adjustments.

Comp means comparable. That implies you are using sales "comparable" to the subject, hence an appraisal.

Second question: what about gridding sales without adjustments? Must that be USPAP compliant?

What do you mean by gridding sales? Are you taking sales similar to the subject and putting them on a grid?

 

[c w d]

USPAP doesn't dictate methodology.

 

[Mztk1]

I think what USPAP says is if the appraiser filtered the sales and selected those included it is an appraisal; but if the appraiser is using the client's data and supplies the sales that come up fitting that criteria without personally filtering them, then it is not an appraisal.

So gridding comps if you selected the ones to grid would be an appraisal, even if you do not adjust them, because it would be suggestive of a value range - like with the 2065.

 

[TJSum]

As a licensed or certified appraiser, when is the threshold crossed to be considered an appraisal for any property?

Methodology?

Assigning any type of value opinion for any property?

Predicting a future selling price for any property?

When has one "committed an appraisal'?

 

[Mztk1]

I guess it is when we use our appraising expertise, i.e., are solicited as and/or are acting or speaking as an appraiser, to lead another person to believe a value or a value range is accurate for a specific property. I think we can be "guilty" of an appraisal whether we intended to be or not.

 

[tyfsu]

As a licensed or certified appraiser, when is the threshold crossed to be considered an appraisal for any property?

Methodology?

Assigning any type of value opinion for any property?

Predicting a future selling price for any property?

When has one "committed an appraisal'?

I guess it would depend on the Scope of Work. When I quote market data to random people in my town am I performing an appraisal? I don't think so...

granted, I wouldn't feel comfortable "gridding" the comps in one of our standard forms because I think it might appear as an appraisal so I would probably do it in excel format.

Wait a minute, the more I think about the OP it sure sounds like a cleaver way to order a comp check….