• 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.

The Appraisal Standards Board Has Issued New Q&as For January 2018

Status
Not open for further replies.

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Appraisal Standards Board
2018 -19

USPAP Q&A
Issue Date: December
19, 2017
The Appraisal Standards Board (ASB) of The Appraisal Foundation develops, interprets,
and amends the Uniform Standards of Professional Appraisal Practice (USPAP) on behalf
of appraisers and users of appraisal services. The USPAP Q&A is a form of guidance issued by the ASB to respond to questions raised by appraisers, enforcement officials, users of appraisal services and the public to illustrate the applicability of USPAP in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems. The USPAP Q&A may not represent the only possible solution to the issues discussed nor may the advice provided be applied equally to seemingly similar situations.

USPAP Q&A does not establish new standards or interpret existing standards. USPAP
Q&A is not part of USPAP and is approved by the ASB without public exposure and
comment.

Q&A January 2018

The Appraisal Standards Board has issued new Q&As for January 2018:
  • Can I Perform an Appraisal if the Property Inspection was done by Someone Else?
  • Does USPAP Require Disclosure of Assistance by a Non-Appraiser?
  • Employing an Extraordinary Assumption When an Inspection was Performed by Another
https://appraisalfoundation.sharefile.com/share/view/s5c101b6fdb043b8a

To view all ASB Q&As, please visit the Standards & Qualifications Q&A Page.
http://www.appraisalfoundation.org/...spx?hkey=c0fe613a-3ecc-4798-b037-1329bad51915


Questions? Please contact: Aida Dedajic, Standards Board Program Manager, at [email protected].
 
Last edited:

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
This appears to be addressing, Desk Top work in some way & relying on a Third party ??

First, it’s important to remember that the appraiser signing the certification is taking full responsibility for the appraisal. The Comment to Standards Rule 2- 3 states, in part:
In an assignment that includes only assignment results developed by the real property appraiser(s), any appraiser(s) who signs a certification accepts full
responsibility for all elements of the certification, for the assignment results, and for the contents of the appraisal report.

Second, the appraiser has to have a reasonable basis to believe the information provided by others is credible. The Comment to SR 2-3 also states, in part:

USPAP Q&A Page 3 2018 -19
USPAP Q&A January 23, 2018
When a signing appraiser(s) has relied on work done by appraisers and others who do not sign the certification, the signing appraiser is responsible for the decision to rely on their work. The signing appraiser(s) is required to have a reasonable basis for believing that those individuals performing the work are competent. The signing appraiser(s) also must have no reason to doubt that the work of those individuals is credible.

My suggestion would be, in regards to Fee's and who is vetting the photo people ?? If the appraiser does not have that Option to fully understand who is providing that Information (competency), but still remains 100% Liable, clearly; $50 / $75 / $150+ Fee is not sufficient
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Also be aware the FAQ repeatedly says only the assistance of other appraisers needs to be disclosed, yet the standard makes no distinction between assistance from appraisers or other people. And, FAQs are not standards, nor enforceable.

.
 

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Also be aware the FAQ repeatedly says only the assistance of other appraisers needs to be disclosed, yet the standard makes no distinction between assistance from appraisers or other people. And, FAQs are not standards, nor enforceable.

.

Correcto mundo, butttt when someone actually takes the time to write any input in the FAQ, (published) although not Standards, do we really think a State board member would not read into that information ?
It reminds me of the person who reads another's report, notes discrepancy's, publishes comments, but claims to not have reviewed it. Just a thought
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Also be aware the FAQ repeatedly says only the assistance of other appraisers needs to be disclosed, yet the standard makes no distinction between assistance from appraisers or other people. And, FAQs are not standards, nor enforceable.

.

Enforceable by who? There is no USPAP police force, only State Boards, who may take exception to the notion that all things within the covers of USPAP are part and parcel of their duty to protect the public trust.
 

DWiley

Elite Member
Joined
Apr 4, 2007
Professional Status
Certified Residential Appraiser
State
Tennessee
... yet the standard makes no distinction between assistance from appraisers or other people..

The Standards actually do make that distinction. It is a distinction that has been in USPAP for over 10 years now. While the document at one time referred to "significant assistance" the wording was changed, intentionally, to "significant real property appraisal assistance." At the time of that change the 7 hour update covered the fact that the change was made to specifically clarify that only an another appraiser could render "significant assistance." While an appraiser might also rely on work done by others, unless that work was done by someone acting as an appraiser, that type of assistance did not rise to the level of requiring that person to be named in the certification.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
By itself, the functions of property inspection, measuring, writing descriptions and taking pics are not counted towards experience credit in my state unless the person doing it is also performing the valuation.

Appraisers have been using MLS pics and descriptions in their appraisal reports for years; sometimes with attribution and sometimes without. Appraisers have used overhead and street imagery from Google Maps and Google Earth and other sources such as public agencies and private subscription data services all along. We pull assessor maps and zoning maps from these public agencies and use them without a second thought toward considering the assumption that they're sufficient for our use to be an atypical assumption in any way.

I would say the argument could be made that a property inspection report or description developed by someone else could be considered at least as reliable and accurate as the MLS listings we commonly rely upon for the analyses of 100% of the comparables we base our valuations upon. If for no other reason than that inspector sharing a similar D3P perspective as we use.
 
Last edited:

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
The Standards actually do make that distinction. It is a distinction that has been in USPAP for over 10 years now. While the document at one time referred to "significant assistance" the wording was changed, intentionally, to "significant real property appraisal assistance." At the time of that change the 7 hour update covered the fact that the change was made to specifically clarify that only an another appraiser could render "significant assistance." While an appraiser might also rely on work done by others, unless that work was done by someone acting as an appraiser, that type of assistance did not rise to the level of requiring that person to be named in the certification.

Oh my,

If the interior inspection is not significant,

why are we jumping through hoops with mysterious other people inspecting the interiors, instead of just doing desk top appraisals???

Standards Rule 2-3
no one provided significant real property appraisal assistance to the person signing
this certification. (If there are exceptions, the name of each individual providing
significant real property appraisal assistance must be stated.)

Dang,
it doesn't say no other appraiser.

.
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Enforceable by who? There is no USPAP police force, only State Boards, who may take exception to the notion that all things within the covers of USPAP are part and parcel of their duty to protect the public trust.

State Boards = USPAP police
 
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