UAD TIPS for working appraisers !

[TerryRohrer]

Hoping not to steal the 3.6 topic too far from center, however:

You indicated above that a GSE, lending assignment that requires both AS IS and ARV value requires only the ARV to be developed [and reported].

In that scenario, does the ASIS value need to be Reported but not necessarily Developed?--unsure if the Development that obviously is needed to obtain an OV could be conducted but maintained in the workfile rather than formally Reported in the Report. [I am asking sincerely because during the course of a few recent similar assignments, I realized that the ARV actually doesn't have any correlation to the ASIS value--although OTOH it is directly related, if a typical client needs the ARV to be based on an ASIS OV + construction budget including EI... and I wasn't very successful trying to explain to brokers that the appraisal OV is not, unfortunately, based on the construction budget--although I could have been hired as a consultant to tell them earlier in the process that they would be spending much more than the price of the purchase of a C5 or C6 and the following renovation costs, than the ARV OV would support!!!! [More succinctly, does the GSE expect to see a correlatoin between AS and ARV based on the cost to renovate? Is so, does the AS IS require an Effective Date to be reported?????

You might try reading again. That is not what DW indicated or implied or suggested.

 

[ZZGAMAZZ]

Since you wanted a thread with tips, I will post the actual first tip. If your subject property has a feature that you would normally (in UAD 2.6) put on one of the blank lines at the bottom of the adjustment grid (e.g., a pool, barn, ADU, etc.) the odds are very good that within UAD 3.6 there is an (optional) dedicated field for that item. It may not be obvious how to find that field (depending on your software), but it almost certainly exist.

The second tip is to download a PDF version of the appendix F-1, as that (long) document has instructions for every possible field in the UAD 3.6. You can download it and use the search feature (or your favorite AI) to search for a specific item.

My third tip would be to watch whatever training videos you can find for your software of choice. As I have stated several times, the various software providers have taken very different approaches to data entry, so how you enter information is very different from program to program.

If you do not yet have a 3.6 order, you can jump start the learning and setup process by taking a completed 2.6 report and recreating the report in 3.6. Some may say that is not efficient, but it allows one to learn about the 3.6 process without the time pressure of needing to complete a live assignment.

My last tip is not to count on the mandate date being moved.

I promise that this is my last question for today:

I was advised on the AF that my pending laptop replacement should include minimun 16gb of RAM because of 3.6.
But then ACI tech support advised me that 3.6 will be a cloud-based application totally unaffected by RAM.... unless something or the other is done, that I don't remember.
Then the AF indicated that some appraisal software vendors would use a cloud-based application and others, a desktop approach.
And.... is the "mobile" functionallity mandatory for 3.6, or recommended, or neither?????

Sorry to hog the thread but this is impt staff in my small world...

 

[ZZGAMAZZ]

You might try reading again. That is not what DW indicated or implied or suggested.

Rather certain he advised that different end users will require different levels of supporting info; and I'm hoping that he can clarify his comments by answering a few lindering questions very impt to be--and in retrospect IMO I wish you would have indicated what I didn't understand...bc if you are correct [quite possibly so] I probably won't understand now what I didn't understand then, kinda availing myself to be wisdom of the AF that sometimes could be more helpful rather than just critical... IMO, but I shall review ASAP and appreciate your perspective....

 

[TerryRohrer]

Rather certain he advised that different end users will require different levels of supporting info; and I'm hoping that he can clarify his comments by answering a few lindering questions very impt to be--and in retrospect IMO I wish you would have indicated what I didn't understand...bc if you are correct [quite possibly so] I probably won't understand now what I didn't understand then, kinda availing myself to be wisdom of the AF that sometimes could be more helpful rather than just critical... IMO, but I shall review ASAP and appreciate your perspective....

Well, there was nothing ambiguous about the question I asked DW, and there was nothing ambiguous about DW's reply to me. So "interpreting" will serve no purpose. Your question that I responded to demonstrates clearly that you did not comprehend what was said. I would advise reading it until you do comprehend it.

 

[glenn walker]

Rather certain he advised that different end users will require different levels of supporting info; and I'm hoping that he can clarify his comments by answering a few lindering questions very impt to be--and in retrospect IMO I wish you would have indicated what I didn't understand...bc if you are correct [quite possibly so] I probably won't understand now what I didn't understand then, kinda availing myself to be wisdom of the AF that sometimes could be more helpful rather than just critical... IMO, but I shall

Deleted.

 

[George Hatch]

CHATGPT recommended either of the two following disclosure statements when involving AI in the appraisal process, the first for residential appraisal reports and the second for formal legal, litigation, estate, etc reportS:

The appraiser utilized artificial intelligence and other electronic research tools as supplemental aids in the preparation of this report. Any such tools were used solely for research, organization, and drafting assistance. All analyses, opinions, conclusions, and the final opinion of value were independently developed, reviewed, and certified by the undersigned appraiser, who accepts full responsibility for the contents of this report.

---OR---

The appraiser utilized artificial intelligence-based software and other electronic research tools as supplemental aids in the gathering, organization, summarization, and drafting of certain narrative portions of this report. Such tools were used solely to enhance research efficiency and report preparation. All factual information, analyses, opinions, conclusions, adjustments, and value opinions contained herein were independently reviewed, verified, and determined by the undersigned appraiser.

The use of artificial intelligence software did not replace the appraiser's professional judgment, market analysis, verification procedures, or compliance responsibilities under USPAP and applicable client requirements. The undersigned appraiser accepts full responsibility for the content, analyses, conclusions, and opinions expressed in this report.

The CHATGPT recommendation was signed: [in a self-deprecatory perspective way more interesting & humorous than I can imagine] as.....

Regareds,
Master C

Can't hurt

 

[Tom4value]

Okay, folks, it is getting near the deadline, and many of us are getting real about learning and using UAD 3.6, perhaps for the first time.
What I would like this thread to be: a place where folks can ask questions, and share tips, or how they have solved roadblock problems. Feedback from using software that is not for the purpose of selling the software, but rather a guide for others who are using that particular software.

What I DO NOT want the thread to become... an outlet for complaints, a platform for selling products, or a snark fest. I will share whatever I learn that might be relevant after I finish my second session with the ALAMODe webinar later today. I took part in one yesterday, boring as heck, but learned a few things I would not have otherwise.

What I learned in yesterday's webinar - Alamode has a right-side column for each section, which functions as a real-time guide to how to fill out that section.

Count me in with your discussions! Your criteria for a forum is just what I want!

 

[J Grant]

Count me in with your discussions! Your criteria for a forum is just what I want!

What software do you currently use?