Using our own Slang or Abbreviations?

[bobsofi]

OK, seems to reason that we include a UAD definitions (abbreviation key) that typically includes BLANK areas for our own abbreviations, that we may be responsible to define our own abbreviations.

Such as... InfLakeView, SupValleyView, BacksNoise

So are we in USPAP violation if we do NOT include abbreviation definitions for using items like the above???

 

[Rick Stillman]

There are times when the choices for any given field are not programmed as UAD responses. If you use a response that is not there, you have to explain yourself.

One example that I use is Sal Rat for a probable discount to the sale price of an active listing. If all of my comps have $5,000 in concessions, I may add that to my active comps as a probable effect to the price. I can't just put in something the reader couldn't understand, so the blank spaces in the UAD definitions are where the "extra" definitions would be explained.

 

[Rick Stillman]

As one more point, why does everyone want to document their procedures by USPAP?

You have to use common sense, and that is what makes your report credible. There is no way that USPAP can cover the thousands of possibilities you may encounter during the course of an appraisal.

Wing it - there is no carved in stone answers to 78.3% of the items you will encounter, but you know the guidelines. Be reasonable - support it - be credible - explain it.

 

[hastalavista]

Appraisers are required to communicate their opinions and conclusions in a clear and accurate manner that is meaningful and understood by the client and intended user.

So, my interpretation of USPAP and short-hand is this: if you develop your own short-hand, you should include a glossary of terms so the client/intended user(s) can understand what you are trying to say.

 

[residentialguy]

Most don't need a glossary

View - Bond

in fact it is clearer than their term B:Wtr

 

[Michigan CG]

..........Such as... InfLakeView, SupValleyView, BacksNoise........

I am an appraiser and I have no idea what those things mean. Do you have an addenda describing each property which defines what you are talking about? InfLakeView....what does that mean? I am going to guess Inferior Lake View but it took me a while to come to that conclusion.

Do you have an addenda that describes and summarizes your comparables.....Comp #1 has an inferior lake view compared to the subject?

SupValleyView.....Superior Valley View? What the **** does that mean? Do you describe it? Do you show photos to prove that?

BacksNoise....does the subject back to a highway? Do you have an addenda that says... "The comparable property....."

 

[Blueprint]

Most don't need a glossary

View - Bond

in fact it is clearer than their term B:Wtr

Agreed 100%. My personal res & view descriptions are much more effective than the technology I may get sued using down the road thanks to the masses appreciating government control in the appraisal industry. Me, bitter at end day, I am for now.

 

[Mike Garrett RAA]

I concur that you need to use narrative rather than something the client won't understand. Another choice is to have an addendum with your abbreviations but that would be my last choice. Back in the day, I used to tell my students:new_newbie:..."don't travel to the beat of a different drummer. Do what your peers IN THIS MARKET and you won't have your reports questioned". Still think that is sage advice!

 

[Mountain Man]

Adding more pages to the report doesn't make since to me. Google it, UAD definitions are on line. If a reader really wanted to break the UAD code they can do so using this link. https://www.fanniemae.com/singlefamily/uniform-appraisal-dataset I might add the link within my report, but not the whole darn thing.

 

[Mike Garrett RAA]

It's a VA requirement that those pages be included in the report now. Ugh!