Scope of Work question

[Ray Miller]

I have a Scope of Work statement on page 3 above the Cost Approach. Then through out the form I have more details about exactly what I did or didn't do. At the beginning of each blank on the form I have See attached Expanded Comment Section. Then in paragraphs with the same headings that are on the form--I go into detail about the subject property. If the section of the form could be expanded those detailed comments about the subject would be on the form except--but they aren't--so I have expanded the form myself.

I also have an expanded comment section that can run any number of additional pages, most of the time it runs two to three pages in lenght, that is legal pages.

 

[Mike Garrett RAA]

Is the Scope of Work acceptable as pre-printed in Fannie Mae forms?

The answer lies within Scope of Work Rule in USPAP. What determines an acceptable scope of work? The expectations of the intended user(s) and what an appraiser's peers would do in a similar assignment.

Since Fannie Mae is an intended user of the appraisal and since they wrote the scope of work...I think it is adequate, in most instances for the intended use. I have two paragraphs of additional scope on page 3 of 6 in the blank comment section.

Without going into great detail...I discuss my sources of data, photos, and inspection of the subject.. There is a comment that clarifies "inspection" and use of supplemental standards (most of my work is for the VA).

So, as to the original question...it depends! Depends on the intended user and the intended use.

 

[Curtis West]

I think appraisers and reviewers sometimes fail to recognize that the appraiser's scope of work is communicated in bits and pieces throughout the report.

I agree with this, but might also include some clients and other intended users with those that fail to recognize how/where the scope of work is disclosed in the report. So, I include the statement below in each report.

Since disclosure of the work completed in the appraisal development process appears throughout this report, the client and other (named) intended users are advised to read the entire report in order to understand the Scope of Work actually performed.

 

[Fred]

Whenever I read these threads, I find that “scope of work” is often referred to as something an appraiser writes, a report section or several sections; as opposed to something an appraiser does (developing).

Here is the question in the opening post.
"How many residential appraisers who use the FANNIE FORMS feel the preprinted scope of work is sufficient?"
It is literally asking if the work (research and analysis) is sufficient.

However, several who posted seem to be dealing with the question as if it had been written: how many residential appraisers who use the Fannie forms feel the preprinted disclosure (of the scope of work) is sufficient.

At least to me, there are two very different questions as to whether the work is sufficient or whether the disclosure is sufficient.

 

[Mike Garrett RAA]

How correct, Mr Santora!

 

[Lawrence R.]

Whenever I read these threads, I find that “scope of work” is often referred to as something an appraiser writes, a report section or several sections; as opposed to something an appraiser does (developing).

Here is the question in the opening post.
"How many residential appraisers who use the FANNIE FORMS feel the preprinted scope of work is sufficient?"
It is literally asking if the work (research and analysis) is sufficient.

However, several who posted seem to be dealing with the question as if it had been written: how many residential appraisers who use the Fannie forms feel the preprinted disclosure (of the scope of work) is sufficient.

At least to me, there are two very different questions as to whether the work is sufficient or whether the disclosure is sufficient.

Frankly, I had not considered that...but in that case, my answer will be yes to both. Come what may, that is my answer. I will wait for Rex and CP to pounce now.....h34r:

 

[Couch Potato]

Whenever I read these threads, I find that “scope of work” is often referred to as something an appraiser writes, a report section or several sections; as opposed to something an appraiser does (developing).

Here is the question in the opening post.
"How many residential appraisers who use the FANNIE FORMS feel the preprinted scope of work is sufficient?"
It is literally asking if the work (research and analysis) is sufficient.

However, several who posted seem to be dealing with the question as if it had been written: how many residential appraisers who use the Fannie forms feel the preprinted disclosure (of the scope of work) is sufficient.

At least to me, there are two very different questions as to whether the work is sufficient or whether the disclosure is sufficient.

You are correct in making the distinction. Just looking at the first post, I was initially thinking he was asking about the work, but the subsequent post, #3 in the thread, indicates otherwise by discussing the "3/4 of a legal page" rather than work being done. The tone of that post seems to indicate an unquestioning opinion that the level of work must be more than is listed in the forms; therefore, most appraisers provide inadequate disclosure of the work performed due to not providing additional information. It is that second post that determined the direction of the thread, IMHO.