If not comp checks.then what?

[Bama Bayou]

One hat, two hats, three hats a dolla, all for four hats stand up and holla!!

 

[Bob Ipock]

The "Which hat to wear, only one at a time" scenario has been used in the USPAP 15 HOUR Student Manual and Course for a number of years. The Power Point slide shows an appraiser and different hats and discusses which hat to wear under what circumstances.

Appraisers who have not had a 15 Hour USPAP Course in this century perhaps have never seen the slides nor have those who dosed thru the class on the way to becoming an appraiser.

If the "Which hat to wear...only one at a time" lesson does not sink in for some.....there is always a 15 Hour USPAP course just around the corner.

Perhaps the ASB will come up with some new slides very soon.......

 

[Terrel L. Shields]

if an assessment record was all they needed, they wouldn't have called you

too true

anyone can offer a CMA correct?

supposedly, but a "CMA" is a product generally considered to be the forte of a Realtor. Don't be surprised if you submit one and get a letter from the state Board of Realtors asking you to "cease and desist".

So why cant I tell a lender ... just a range of value that similar properties have closed for.

Ask anyone. I am one of the biggest critics of USPAP on these forums. But there are parts of it that are crystal clear. Incredibly I would say an extraordinary slice of appraisers cannot read the simplest part of USPAP which pointed explains that pinpoint or range of value, it is an appraisal...

APPRAISAL: (noun) the act or process of developing an opinion of value; an opinion of value. (adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services.
Comment: An appraisal must be numerically expressed as a specific amount, as a range of numbers, or as a relationship (e.g., not more than, not less than) to a previous value opinion or numerical benchmark (e.g., assessed value, collateral value).

That is the first definition in the 'definitions' page.

 

[TXCBoy36]

If you set a value then you are wearing the appraisal hat....no matter how much you want to say that you are not.....if you set a value...you are an appraiser.

JC

 

[Hal Mann]

Certified Hits Rock Bottom

Drain the gene pool. No more reproducing from the current stock.

Start the whole licensing process over from scratch. Minimum IQ of 125 required. B+ or higher on a common sense exam. Ability to ask questions in a coherent manner and to SEARCH for answers to questions involving USPAP, state appraisal laws and appraisal board rules and KNOW the difference between the three.


It is amazing how little can be learned from sitting thru 75 to 300+ hours of appraisal education including USPAP and have people know so little.

Yes, Bob, amazing and frightening. This thread is all the proof anyone could want that appraisal licensing is meaningless.

 

[Michigan CG]

Come on folks...this is public information. Assessors can be very wrong, they cannot in most cases get interior access, they mostly base their assessments on mass appraisal techniques, and they mostly are under staffed.

If an Illinois appraiser gives assessor records to a lender in California the lender will not understand that the assessed value is 1/3 of the Market Value according to the assessor.

This is not rocket science.

 

[TXCBoy36]

Learn from this!

I was just sitting here looking through my email and noticed a familiar AppraiserUSA.com Customer Contact Form message. Of course ist not an order but a "value check" from an out of town LO. Now I dont do these but am wondering, what if you forward the LO with an assessment record...let the draw their own conclusions? Is that breaking or bending the rules? I mean Im sure they will probably find someone that will do the value check, but at least this way youre not giving them the complete "cold shoulder".
Probably only takes 2 minutes to pull one up anyway and its not like Im overburdened with work.

Bet your wishing that you had not started this thread.....lol

I always laugh when I see the responses....some of the members on here think that they are so superior to the rest of us YAHOOS.....too funny!!

Bottom line....do the job the way it is suppose to be done...do not short cut it....be thorough and ethical. If they are looking for some value ranges then offer them an appraisal, anything else is leaving yourself open for prosecution. Is one value check worth your license or career. That is how I look at it....one assignment is not worth your license.

Just use some common sense...

JC

 

[Elliott]

Let the low number posters do their comp checks, get burned
from MBs, get a few investigative complaints, get stiffed on
bills, establish a poor reputation in the lending community and
in a few years they'll start sounding like the old farts on this board.
None of them can say we didn't try to warn them. They'll always
have their fond memories of how popular they were when the
use to do comp checks for every MB in the surrounding 15 states
until they got put on 'do not use' lists.

 

[Pamela Crowley (Florida)]

IMO:

Comp checker appraisers = prostitutes giving away samples.

 

[Mike Kennedy]

Charles Knutson;

"Anytime an appraiser gives an opinion of value, whether it is a range of value or a hard value, USPAP considers that to be an appraisal -- which means the appraiser is required to maintain a workfile."

Absolutely.

"without interpreting the data, that does not constitute an appraisal -- and does not require maintaining a workfile."

Correct.

"the LO ordered a COD appraisal, without any preconditions."

__________

Based on the posted response, the COD order was clearly Conditional upon requestor receipt of appraiser supplied, intentionally filtered, data:

i.e. 2 sales versus "ALL SALES" 2 listings versus ALL LISTINGS all 4 based upon specific location on 1 particular street versus the "neighborhood", all 4 "comparable in size" with appraisers' opinion on other sales opined as "not comparable". The data provided indicated a range of values provided by a licensed appraiser i.e. an appraisal. A workfile is assumed to be in existence in compliance with USPAP.

IMO Fee or Free is not the issue. Accepting a Second Order which clearly was predicated on the "success" of the First One i.e. preliminary comp check is the issue.

See USPAP "Unacceptable Assignment Conditions"