My 1007 Test

[Elliott]

Why restricted? Lenders won't accept restricted reports, has been my observation. Is there a box on a 1007 for a restricted report?

 

[George Hatch]

I bought the Kindle version of this last night. 8th edition 2013. So do not use this? So I need to use AI publications? Can you point me to what I need as I'm still scratching my head where the heck the correct and accepted definition is and the source. If you can help that would be greatly appreciated. A link is all I need.

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The reason for citing the source of the value definition is not necessarily an appeal to "authority" but a means of either meeting one of the assignment conditions (some assignments require the use of a specific value definition) and/or conveying to the reader exactly what you mean. When the use of a specific definition from a specific source is required that requirement can be the result of regulation or contract or other agreement.

So unless otherwise specified which definition/source to use, one is just as good as another.

 

[Addie]

Is there a box on a 1007 for a restricted report?

I turned it into a restricted report via the USPAP addendum or aka saying it is a restricted report and not an appraisal report. We don't have to get hung up on that part. Was just a detail I added.

 

[Addie]

Thank you all. Found all the materials I need to re-take the test thanks to the Appraisers Forum!. USPAP book/checklist and AI book (which didn't even know existed)

 

[George Hatch]

How come every trainee is not spoon fed,

and where is the mentor who is supposed to be teaching all of this,

including the resources necessary to answer the questions?

??

??

??

??

.

We tend to react differently to different types of questions and different attitudes. Addie has gotten considerable criticism in response to the attitude some of us were interpreting from her initial posts. Nevertheless, THIS was a reasonable question to ask and was posed in a reasonable manner so some of us apparently thought it worthwhile to respond accordingly. I'm sure if she gets around to condescending to us again in the future she'll be treated accordingly, but everyone here is subject to that kind of response, too; so that's not singling the noob out for mistreatment.

As I have often said, I don't think our business has a trainee problem. IMO we have a supervisor problem. And while I take a generally hostile view to the short-sightedness of building a fee shop on the backs of trainees I don't think an appraiser who is training a family member is doing that.

 

[Michigan CG]

Think I found what you are talking about. Is this what I need?

https://www.appraisalinstitute.org/the-dictionary-of-real-estate-appraisal-6th-edition/

Yes, that is what you need.

 

[Michigan CG]

I have deleted multiple posts from this thread. I hope there will be no more that need to be deleted.

Moderator.

 

[Addie]

Here is the ASB's FAQ I referenced in my earlier response. This can be found on page 253 of the 2018-2019 USPAP publication:

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Thank you very much.

I was thinking. Of all the Fannie forms that come across your desk, the ones that are 1004 + 1007, what % of them state market rent definition and a source? I’d have to guess zero.

 

[Peter LeQuire]

Depends on what you mean by effective. I do believe from some of the OP's previous posts. Op's mentor is also OP's spouse. IMHO. It appears that in the majority of the OP's posts. The OP already knows the answer. Forum troll.

Troll or not - were I to train and unleash a family member on clients, I believe I'd make as sure as I could that he or she was as well taught as I could teach. And if he or she bristled with my oversight, I would help him or her find a mentor to whom he or she could be more responsive.

 

[djd09]

Marion is the best. The only posts i wanted to read are gone. I hope you read them carefully.