What order do you put your 1004 in?

[residentialguy]

I've looked over some really crappy appraisal reports during my tenure as an Independent Real Estate Appraiser Trainee, but, they all had cover pages

Well, there you go. I'm going to ditch my cover page. I don't want my appraisal to even give the appearance of being a crappy appraisal.













I'd rather they found that out after they've read it. :new_all_coholic:

 

[Peter LeQuire]

For a non-narrative appraisal report

Invoice
Table of Contents
Assignment Description
(which includes scope of work amplification, EAs, HCs as appliacble, and which also includes assumptions, limiting conditions and value definitition, if necessary)
Report form (1004, GP, whatever)
Additional comps, as applicable (closed, listings, rentals)
Text addendum
1004MC if applicable
Text addendum discussing 1004MC
Copy of deed
Sketch
Copy of plat map
Comparables location map
Subject photos
Comp photos
Qualifications summary (for certain clients)
Copy of license, if requested
Location map(s)

 

[nstanbru]

Several years ago, my E&O carrier (LIA), advised that appraisers do not attach their license to an appraisal report. They did realize that many lenders require E&O coverage before they will accept a report. Their suggestion was to provide a copy of the declarations page separate from the report if the lender didn't want to the time to verify coverage with the carrier. I never include a copy with my reports and have followed this advice without encountering any major problems.

There was a time when it was against the law in CA to copy any kind of license. However, the OREA received so many requests for clarification because lenders were asking for copies. Their initial response was that the lenders could go to their website and check the license status of any appraiser. Obviously, the lenders would not do this and OREA changed their policy. But they do say the copy must clearly be labeled as a "copy". I talked to an OREA investigator once (possible appraisal identity theft of my license which turned out to be a typo mistake by the lender). He told me that if he were to send out a copy of his license it would be so marked up with "copy" that it might not even be readable. I do the same with my license as with my E&O. I only forward as a separate item and only when requested.

 

[residentialguy]

Several years ago, my E&O carrier (LIA), advised that appraisers do not attach their license to an appraisal report. They did realize that many lenders require E&O coverage before they will accept a report. Their suggestion was to provide a copy of the declarations page separate from the report if the lender didn't want to the time to verify coverage with the carrier. I never include a copy with my reports and have followed this advice without encountering any major problems.

Yes, that is this link I posted earlier ^
http://www.appraiserlawblog.com/2009/11/should-i-attach-my-e-declarations-page.html

But they do say the copy must clearly be labeled as a "copy". I talked to an OREA investigator once (possible appraisal identity theft of my license which turned out to be a typo mistake by the lender). He told me that if he were to send out a copy of his license it would be so marked up with "copy" that it might not even be readable. I do the same with my license as with my E&O. I only forward as a separate item and only when requested

Good idea, thanks!

 

[Tres Kirkland]

Hey Tres,

I noticed you put your E&O insurance on your reports. I stopped doing that.
Take a look at this

http://www.appraiserlawblog.com/2009/11/should-i-attach-my-e-declarations-page.html

I should have put when applicable. I don't put my license and E&O in all my reports, but for whatever reason I do have some clients that stipulate it be in the report. Which seems stupid since unless it is just a one time client they all have a copy on file. But the article does make a good point, most claims are going to come years later and that declarations page will be meaningless.

I was always taught to not even let anyone know that I had E&O insurance unless they asked, but now all the lenders require it and ask for it.

 

[incognito]

MN Mark writes regarding the appraisers Resume:

Well, again, I recognize that I am in the minority. I guess I'm just not clear on the reasoning behind putting it at the end. I mean, something other than everyone's doing it.

In this day and time, no one cares about an appraisers experience, training, and geographic competency. The only thing nearly ALL appraisal users care about is price and turn time. Screw the fact that I have 30 full time years experience in this market area and county. Screw the fact that I am an SRA. Screw the fact that I am a licensed General, even though I am primarily a residential appraiser. Screw the fact that I have college degrees. Screw the fact that, Oh hell, you get the point...