Opinions on : Proper Procedure to Quit.

[Alamo Cowboy]

How about the state agency that told us we have no obligations to the license after we retire?

The fact you can be subpoenaed as a witness over an appraisal you did last year or for that matter 20 years ago has nothing to do with the record keeping requirement of USPAP. Without a license you have no liability to USPAP nor a licensing agency.

That's your opinion. I have a different one. I followed what my state suggested.

I retired from the US Army after 20+ years of service as an infantry officer prior to becoming an appraiser. I was concerned at one time that I could be recalled to active duty and court marshalled & stand trial for some of the **** that happened during the Vietnam era. Never happened. The Army did ask me to come back for a 2 year stint as they had a shortage in my MOS specialty when I was 60. Never thought that would happen; but, it did. I declined.

I retired again from appraising after 30+ years in industry. I again thought I might be sued after retiring for some prior appraisal report. Never happened.

IMHO, I believe one will be left alone once retired.

To me there is little to no financial gain to legally go after a retiree.

 

[Tom4value]

After you surrender your license you are NOT AN APPRAISER....

Again, what is the penalty? Zero. Nada. They cannot take away a license you don't have. We have an annual "Day with the Appraisers" sponsored by the state and that was explicitly answered. You don't need to keep them for the sake of USPAP. You are no longer bound by USPAP. HOWEVER, you have some obligation to privacy regarding those under the GLB Privacy Act (you shouldn't just hand them out to the public.) You might want to keep them in case you are subpoenaed but even then I will take my chances. Those records are toast the day after my license expire.

You can still be sued by an aggrieved party for monetary damages. True, your license and career are no longer in danger as USPAP is no longer in the discussion. However, your bank account is.

 

[Terrel L. Shields]

ou can still be sued by an aggrieved party for monetary damages.

So? What does that have to do with your records? Sue me, but prove anything. All a workfile does is create a playground for a lawyer to "prove" you did something wrong. Get tail insurance and be done with it.

 

[NC Appraising]

Ram,

Why are you getting out? I am one or two counties from you.

 

[nachocheesefries]

Hi Guys, your input is appreciated.

What is the Proper Procedure to Retire from appraising
1) Besides just saying No to client assignments or deleting their email-contact
is it necessary : to contact all clients to inform them to remove me from "active duty" & thereby cancelling (any) Initial Sign-up Documents ? ( I have contacted two clients & received a Letter from both acknowledging my request to be removed from their Active List. )
2) OR simply- by not renewing license I would respectfully be removed from being applicable to receive GSE federal related appraisals?
3) Do I need to contact the State Boards directly for any potential information I need to provide them? (No I have not contacted them yet. If a must...I will)
3) How long would you retain an E&O policy?
4) Do I need to contact any web or advertising pages that List my Appraisal Company? (Will be retaining RE Companies)
5) Yes, cancel all software products.

Thanks

Because they give you notice when ghosting you?

 

[Tom4value]

So? What does that have to do with your records? Sue me, but prove anything. All a workfile does is create a playground for a lawyer to "prove" you did something wrong. Get tail insurance and be done with it.

So deliberately screw yourself out of support for defending yourself?

So you want to deny the opposing attorney an opportunity for a "fishing expedition". I am no lawyer but my response as the plaintiff's attorney would be, "Your Honor, every appraiser knows that according to USPAP, you need to keep files for at least 5 years. Even though the defendant is no longer an appraiser, how good could he/she have been if the most basic rule of USPAP is ignored?"

Most appraiser store files in the cloud. My take is keeping them for 5 years is a very small price to pay in contrast to the potential negative.

 

[ramrcdk]

Ram,

Why are you getting out? I am one or two counties from you.

Hi, Lost the Passion. Income Potential. Bias BS. Don't need the Stress.
Since 1984 started "appraising" and have thoroughly enjoyed it. @ 11 months ago, I took a look at life without appraising to see if I was really really ready to quit. (Yes, my E&O carrier guarantees a two-year -premium cost but offers no retirement-discount ...for the next 4 years.)
Only servicing exceptional clients, I've run the numbers and know I will not work harder. I will not accept service assignments from BS clients nor will I perform shady-requests outside of USPAP. I am not & have never been biased; however, would not matter & for the years of being tied to a Law Suit, nope. & I will not lower my fees.

Therefore, potential achievable income in 2023... LOL is laughable !
Also: with 2023 (Licensure States) cost of CE hours, costs for: software, multi-state licenses, E&O, & running the business decided "could not be a better time".

 

[chad hampton]

It’s a shame whats happened to good quality people and appraisers that simply got tired of what this profession has become.

I think I’m getting close to knowing more people that have left this profession after having their businesses taken from them or just deciding life is too short to deal with the jack asses that have some stumbled their way into high up positions in this field.

Even knew an appraiser that killed himself due to cuomo and the hvcc destroying his business and family.

These decisions come with real life consequences. Such a shame what they did.

 

[DTB]

So you want to deny the opposing attorney an opportunity for a "fishing expedition". I am no lawyer but my response as the plaintiff's attorney would be, "Your Honor, every appraiser knows that according to USPAP, you need to keep files for at least 5 years. Even though the defendant is no longer an appraiser, how good could he/she have been if the most basic rule of USPAP is ignored?"

Much easier to defend that.

"Your Honor, my client has not had a reprimand or infraction in over XX years of appraising and certainly was well versed in his professional obligations as an appraiser. He appears here today as a layperson, no longer licensed nor bound by any appraisal regulations. If opposing council has any facts to support their allegations we are ready to present a vigorous and robust defense."

No files, no snooping, likely no nothing.

 

[Essexfenwick]

When you’re incorporated the records belong to the defunct incorporation of the no longer an appraiser