• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

SOW Jargon?

Status
Not open for further replies.

Lawrence R.

Thread Starter
Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
Revisiting ye ole Scope of Work statement. I don't have much of one. I used to operate under the assumption that less is more.

Now I am not at all convinced of that.

Would anyone care to share a typical SOW for your typical cookie cutter residential appraisal?

No need to post it here, but feel free to PM me.

Thanks!!
 
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Montana
SOW Software

Revisiting ye ole Scope of Work statement. I don't have much of one. I used to operate under the assumption that less is more.

Now I am not at all convinced of that.

Would anyone care to share a typical SOW for your typical cookie cutter residential appraisal?

No need to post it here, but feel free to PM me.

Thanks!!

Give yourself a Christmas present. This software is only $99.00 and does the job for you while allowing you to custom make each report SOW.

Click on "Review" for the review I wrote on the software.

Link To SOW software

I have no stake in this company and I paid for the software. For me, it allowed me to formalize the stuff I had cobbled out of several CE classes and off AF and from trying to make sense of USPAP.

I have also added a lot to it as I worked through problems. Just the other day, I had to add to the comments on releasing Mortgage Insurance. Now they are written, the next time I use it I can put them in.

It is now more important because orders are coming in with so many new wrinkles. VA doesn't want land value but the lender insists and the list goes on. It is great to have a library of stuff as you go along, add it for use for the next lug-nut who wants to re-invent the scope of work.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
Doug-

I read your review and read the part about the updates.
Out of curiosity, since you use it, do you see any significant conflicts with what the software produces now vs. 2008 changes with SS?

I, probably like you once had, have a folder full of word.docs with SOWs for specific clients or specific situations. It would be useful to have a "master-generator" SOW process.

Thanks for the link and for considering my question.
 
Last edited:
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Montana
From the Horses Mouth

Doug-

I read your review and read the part about the updates.
Out of curiosity, since you use it, do you see any significant conflicts with what the software produces now vs. 2008 changes with SS?

I, probably like you one had, have a folder full of word.docs with SOWs for specific clients or specific situations. It would be useful to have a "master-generator" SOW process.

Thanks for the link and for considering my question.



I received the following message 12/09. I have included the full text. David has some other work in progress.

To: Douglas Smith
Happy Holidays from Automated Valuation Technologies, Inc.!
I have received and read the 2008 USPAP. There is no reason to change the USL documenter. There is a change in the definition of 'Supplemental Standards'. Fannie & Freddie are no longer considered supplemental standards. I am still interested in new comments you have created, and any comments you have in general. I have some applications in the works. One is a neighborhood narrative writer which will help you write up a neighborhood description quickly and save it for future use. You can copy the description into your appraisal report like you do the USL. This will be out in the Spring.

Many of you may not know it, but I have been experimenting with 'market modeling' for many years now. I will have a regression program for real estate professionals out in January. It will produce an analysis to shore up a traditional appraisal or produce a completely legal appraisal report. It will utilize the USL Documenter in the report writing. You already have the USL, so you will not have to buy both. In addition you will get a special price. Thanks.

David Braun, MAI, SRA

I have never had a review or underwriter comment on the presence or absence of SOW in a report. I have not addressed the subject in any review I have done.

I can say the same thing about the summary of highest and best use. I rarely see anyone who actually summarizes HBU as required. Most just check the box. However, I have seen some reviews by a State Agency that throw the lack of HBU analysis into the pot to prove an appraiser has violated HBU.

My guess is that the change in SS will be covered in the USPAP update classes and there will be renewed focus on SOW. This may lead State Appraisal Boards to begin focusing on SOW to prove violations of USPAP.

Lenders don't have a lot of concern about USPAP and therefore I don't think many lenders will be asking for a SOW summary but I do think state appraisal boards in their zeal to prove violations will be looking at SOW.

I also think there is growing sentiment on the part of appraisers to distinguish themselves from the appraiser clutter. The temptation of using the SOW USL generator is to go overboard, to throw everything but the kitchen sink at the wall and see if anything sticks. I think the USL software is useful but I think it has to be used in two ways. The first is to meet the requirements of USPAP and nothing more. The second is to use it in a way that demonstrates and confirms the excellence of the appraiser. We rarely talk about excellence but the pursuit of excellence is always a worthy goal. The well spring of the pursuit of excellence is that it instills confidence. Confident apppraisers ask for and receive higher fees.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
Doug-

Thanks for taking the time to reply- I appreciate it!
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I still believe that Scope of Work issues are the most deadly trap within the appraisal report slash Std II issues. Largely, because the scope actually performed is generally less than the broad generalizations usually stated and because the client invariably frames the debate in their terms and appraisers are forced to think inside the Residential box, and use fanniespeak as the language of choice..nevermind the consequences.
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
I still believe that Scope of Work issues are the most deadly trap within the appraisal report slash Std II issues. Largely, because the scope actually performed is generally less than the broad generalizations usually stated...

Sort of a "boiler-plate" SOW, eh?
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Sort of a "boiler-plate" SOW, eh?
You have to walk the plank from one ship to the other. Easy to fall off and which side you fall doesn't matter. Either you Scope too much and broiler plate things you didn't do or that don't relate to the problem at hand or you risk understanding or omitting something due to lapse of memory or being overlooked and you failed to explain it.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks