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Lender request use of old form

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Wyoming

Thread Starter
Sophomore Member
Joined
Jun 10, 2006
Professional Status
Certified Residential Appraiser
State
Wyoming
I am being asked by a national firm to perform a 4 unit appraisal on the OLD 2055 form. I am familiar with USPAP FAQ 90 but does anyone have anything else on this topic? Thank you.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Is this for Rels/Wells?
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
I am being asked by a national firm to perform a 4 unit appraisal on the OLD 2055 form. I am familiar with USPAP FAQ 90 but does anyone have anything else on this topic? Thank you.

What is the Use of your appraisal?

What else can you tell us about what has been requested of you specific to the assignment?

One can communicate an appraisal on a napkin if need be.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
I am being asked by a national firm to perform a 4 unit appraisal on the OLD 2055 form. I am familiar with USPAP FAQ 90 but does anyone have anything else on this topic? Thank you.

Yes.
Don't let the form define what needs to be developed to produce credible results or limit you from reporting those results (I don't have my new USPAP yet, so I don't know what is in FAQ 90!).

Good luck.
 

OSU Beavers

Elite Member
Joined
Jan 10, 2007
Professional Status
Licensed Appraiser
State
Oregon
2055 Exterior? Sounds like a repo drive-by, in which case you should use the old 1025 and state all over the report that an interior inspection was not made.
 

Webbed Feet

Elite Member
Joined
Feb 11, 2005
Professional Status
Certified Residential Appraiser
State
Canada
To All,

There is no way any of us can respond to a post lacking crucial information needed in order to answer it. How everyone in our industry should have understood a very long time ago that SOW is crucial in determining assignment conditions..... and then we have so darn many posters completely leaving ANY scope of work information out of their posts when asking the forum questions is just completely beyond my comprehension.

Webbed.
 

Wyoming

Thread Starter
Sophomore Member
Joined
Jun 10, 2006
Professional Status
Certified Residential Appraiser
State
Wyoming
I understand the inquire into SOW. However, there is no contradiction between SOW and the content of this form. I am sorry I didn't make that more clear. The reference to FAQ 90 is just to let whomever know that I am aware of the requirement to always use the most current USPAP.

The question I am asking is along these lines.... Is the use of an older form (one that has a corresponding new version) in itself misleading and then against USPAP? I was hoping someone had specific experience with this. Again, sorry to anyone who has been confused by this question.
 

George W Dodd

Senior Member
Joined
Jul 9, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Matt,

As Lee stated, you can do it on a napkin. You just need to make sure that you cover any outdated report content and that your product confroms to current USPAP.
 
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