What To Redact For Sample Reports

[BRCJR]

I haven't sent out a sample report in more than 15 years and I have no intention of doing one. That said...if I did have to I would choose some reports and request permission of the client to use it as a sample report. Redacting a bunch of stuff can make it very difficult for someone to review the quality of your work.

It also tells a story.
Did the submitter follow the USPAP?
I have no idea if a sample report without redaction was sent in compliance.
I can tell if a redacted one is compliant.
The redacted report gives a bit of insight to the authors understanding or respect for the USPAP.

 

[BRCJR]

So what your saying is that nobody can vet my work on a 30 day trial basis ?? To me that would actually provide the best scenario; don't like the work, stop after the 1st - 2 reports; (2) is there an endless supply of incompetent appraiser's still rolling around ??

And because the lender choose an incompetent individual, testing them out for 30 days, the loan will be more costly for the second appraisal and the loan closing will be delayed.
That can happen even if the individual provides sample work but, is less likely.

 

[timd354]

I have no idea if a sample report without redaction was sent in compliance.

It is pretty easy to have a quick conversation with an appraiser that you are thinking of adding to your panel/approved list and find out whether or not he had obtained permission from his clients to send you the un-redacted samplers

 

[timd354]

So what your saying is that nobody can vet my work on a 30 day trial basis ?? To me that would actually provide the best scenario; don't like the work, stop after the 1st - 2 reports; (2) is there an endless supply of incompetent appraiser's still rolling around ??

It might provide the best scenario to you the appraiser, but it probably does not provide the best scenario to the lender (why would they want to put themselves on the hook to pay for even 1 or 2 appraisals from someone that they have not vetted and whose work they have not seen?) and unless your area has a shortage of appraisers who are acceptable to the lender, then a lot of lenders are simply not going to do as you suggest.

 

[BRCJR]

It is pretty easy to have a quick conversation with an appraiser that you are thinking of adding to your panel/approved list and find out whether or not he had obtained permission from his clients to send you the un-redacted samplers

How many will admit to that violation, if they did not have client approval, if you ask?
You going to call their client and verify?

 

[DWiley]

I know that some appraisers dislike the notion of providing sample reports. However, the regulators have been very clear with lenders that simply verifying that one holds state issued credentials is not sufficient for determining competency. That is why many still ask for samples. Others have taken a different track. You may have noticed that some have a test.

Some lenders and some AMCs ignore the regulators, or have not yet had the pleasure of a visit from them. The result is that those who are trying to abide by the rules are perceived by some appraisers as doing something that is not required.

 

[timd354]

How many will admit to that violation, if they did not have client approval, if you ask?
You going to call their client and verify?

If you ask them straight out, then yes, most of them will not admit it. However, there are ways of framing conversations so that people reveal things that they would not otherwise reveal if asked directly.

I think that a 5 or 10 minute conversation with somebody over the telephone would pretty quickly reveal a lot about that person's basic knowledge of and what their general attitude towards the USPAP is...assuming that you ask the right questions

 

[DWiley]

The redacted report gives a bit of insight to the authors understanding or respect for the USPAP.

Not necessarily. My take would be that a person who understood USPAP would understand the many ways that one could provide an non-redacted sample.

 

[BRCJR]

delete

 

[Ariba]

Very simple, use your own house as the appraisal simple or tell them to order an appraisal.. You might even sweeten the deal and offer do it for 1/2 your normal fee. Problem solved.