Scope of Work Question

[Mr Rex]

PE, I hear you can just call it a draft, and it doesn't count until you sign it after the client points out your typos, errors in calculations, and other troublesome wording etc. Don't know where I heard it:new_smile-l:

Do you actually sign the first draft?

 

[PropertyEconomics]

PE, I hear you can just call it a draft, and it doesn't count until you sign it after the client points out your typos, errors in calculations, and other troublesome wording etc. Don't know where I heard it:new_smile-l:

Do you actually sign the first draft?

I sign it before I drink the first draft. After that, the handwriting tends to get a bit sloppy. Ok well maybe it takes two or three .. but not many more than that these days.

I had heard about calling it a draft ... but that stinky to me no matter what my USPAPPY say.

 

[Pat Butler]

Your original scope of work could include "this report and any future report to correct typos...."

 

[Ray Miller]

Making minor revisions for typos and spelling, I feel does not change the scope of work as stated in the original report. I note the corrections give the revised report a new number RM-21061808 now becomes RM-21a061808. I leave the old signature date of 06/19/2008 and add “revised 06/21/08.

If the revisions call for by the lender such as additional comparables or listing. I will amend the original scope of work with the date the change was made. I will put:

SOW amended on June 17, 2008 at the request of the lender Mr Bullfrog to add additional sales as comparables and listings. I gave neither the additional sales selected as comparables or the additional listings any weight in my finial conclusion of value. They were add at the request of the lender.

If I had something that would change the value of the report, I would now add a statement to the report that would say: This report has been revised because of an error discovered by other interested parties and brought to my attention. The error (s) were I missed the ¾ bath that was off the main hall on the second story. This error has cause me to reconsider the original value of the subject property. This appraisal report supersedes appraisal report RM-2106/18/2008.

Now with all that said in Wisconsin it makes no never mind what you do after you have sent a report out with errors. The state or at least in my case considers that original appraisal report to carry just as much weight as if you never correct it and you are subject to action by the State Division of Regulation and License Enforcement Division as direct by the Wisconsin Real Estate Appraisal Board. Your sisfosnjafqtrq4i Qegjagi ju9awfpawej 9agf ad and they are the lawnmower.

 

[Lee Lansford]

I have a question regarding scope of work.
When you deliver a report to your client, whomever that may be, and they find say typographical errors, errors in reporting about the property, any errors at all, and ask you to correct those ... do you, in the corrected report, revise your scope of work to show that the report was corrected at the request of the client and whether or not the value conclusion was affected?

Any revisions to a previously communicated appraisal should:

1) have a new file number

2) have a new "date of signature and report" (assuming that the revised report is not communicated the same date as the first)

3) have a section in the report that clearly explains what revisions are present in this "date of signature and report" vs. the prior AND explain the reasons for the revisions.

 

[Marcia Langley]

I agree with Lee that revised reports should have new file numbers and clearly explain the need for and nature of the revision.

Typo corrections are not SOW items per se but when you explain the revision, you have basically explained the scope of what you have done.

I don't see much difference.

 

[Hamlet]

I agree with Lee for typos and my mistakes, I would change my file number to end in -02, comment prominently in the addenda as to why the revision was necessary and sign and date the revision. If correcting my mistakes caused a change in my opinion, it would still be the same assignment. Additional request by the client would involve a new SOW and a new assignment.

 

[Mike Garrett RAA]

No one replied, so I will try this...

Page U-4 at Line 136...

Scope of work: the type and extend of research and analysis in an assignment.

You will notice it doesn't talk about corrections, form, or report.

On page F-44 Frequently Asked Questions

92. What is Scope of Work?

In basic terms, the scope of work is the work the appraiser performs to DEVELOP (my bold) assignment results. USPAP defines "scope of work" as the type and extent of research and analysis in an assignment. Note that this definition excludes reporting.

Also look at 95. Client Specifies Scope of Work.

The key wording is..."credible assignment results".


The next thing I believe we need to look at is the Scope of Work as defined in the Certifications and Limiting Conditions of the Fannie Mae form...in this case the 1004:

Scope of Work: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum (1) perform a complete visual inspection of the interior and exterior areas of the subject property. (2) inspect the neighborhood (3) inspect each of the comparable sales from at least the street (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report.

It would appear to me that the Scope of Work, as so stated, does include reporting and therefore could cause the appraiser to be responsible for reporting in a manner acceptable to the client and subsequent users of the appraisal report. That would, in my opinion, include making corrections to the report...if necessary.

The inclusion of additional data would also require additional research, verification, and analyzing. I believe this would then cause modification of the original Scope of Work in that the appraiser is to report the Scope of Work actually performed. Since you would be changing what you actually did, I would feel more comfortable in adding to the initial Scope of Work.

Should you amend your appraisal report? Should you consider the request a new assignment? Are you, in affect, updating an existing appraisal? As usual...it depends.

I would also like to ask this. Do you feel the Scope of Work, as defined in the printed portion of the form to be adequate in light of the intended use and intended user? If not...what do you add?

 

[Fred]

It would appear to me that the Scope of Work, as so stated, does include reporting

I don't believe it matters how it is stated. That's why I posted before - using the term as defined by USPAP. And I would tend to think, unless you create your own defintiion, using the term is going to mean being stuck with the USPAP defintion.

That said, it is the USPAP defintiion section that defines "work" as "research" (you know, like inspecting subject and finding comps) and "analysis" (you know, like using an approach to value). It is the USPAP that does not include communicating under "work."

The inclusion of additional data would also require additional research, verification, and analyzing. I believe this would then cause modification of the original Scope of Work

I would argue that within the languge of USPAP, one can only modify the scope of work during an assignment. After the results are communicated, there is only one option that covers any further research and analysis of the same property for any client, and that is, you must perform what is "simply a new assignment."

 

[EVAUSA]

The scope of work does not change, but I will attached a cover letter stating the changes made in the new version of the report, and I will put in the addendum, or in another place on the report, what changes were made. I also will change my signature date.

I also learned to do it this way, exept I dont change the signature date (good idea though). I date the cover letter and addenda if additional comments are added.