How To Give A Verbal Or Bare Minimum Report And Be USPAP Compliant?

[Eli]

There needs to be a new appraisal education class titled something along this line. It don't take that much to be USPAP compliant relative to the reporting side. It is the development side that counts the most. I understand the certification things and such but this would be a great class topic.

 

[JTip]

It's all about the work file brotato chip.

 

[Terrel L. Shields]

http://calvinmoye.com/index.php?page=69

 

[Elliott]

It easily fits on a cocktail napkin. Any USPAP instructor can tell you the 'minimum.'

 

[Peter LeQuire]

It easily fits on a cocktail napkin. Any USPAP instructor can tell you the 'minimum.'

Or a tweet.

 

[hastalavista]

You are missing the key variable in your post: Intended user and intended use.

Assume the intended use is to "assist the client in making a purchase decision: the subject to be their primary residency."
I can write a bare-bones appraisal report (not restricted, but SR2-2A) if my client is real estate savvy in the property type of my subject and knowledgeable about that market and market segment.
If my client is an out-of-state resident who does not have any special real estate acumen, doesn't know the market (location) and doesn't know the sector trends (residential real estate), my same SR2-2 report is going to be more detailed/comprehensive.

Interestingly enough (and IMO), let's say that the intended use is for a loan; the first client is a lender and the second client is my out-of-state private party.
In that case, the out-of-state client's report will still be more comprehensive in everything but 1 item: Support for the adjustments.
A mortgage-lender client expects for adjustments to be supported and some level of specific support be included in the report.
The out-of-state private party lender doesn't have the wherewithal to understand the adjustment process or evaluate how it is supported. Therefore, I wouldn't provide them with the same detail I would a lender.