Which form best for estate appraisal?

[George Hatch]

I use my own forms which are a mashup between the AI forms and TAFs UCIAR forms, updated for the current version of USPAP. They're basically a structured narrative, although there's more "summarize" than "describe".

If I had to use a form out of the appraisalware suites I'd use the AI form. The only reason those seem like more work is because when you actually use the form as intended you are eliminating the need for additional bolt-ons (the redundant boilerplated addenda). That, and the AI forms include a couple elements that a lot of appraisers are not accustomed to completing, like HBU analysis.

 

[Fernando]

Here's a link to example engagement agreements, I've made available: https://www.valuationlegal.com/appraiser-engagement-agreements/
As several have mentioned, I also would suggest not using a 1004 or other GSE report form. I have seen appraisers who performed non-lending assignments on those forms disciplined by states (because of the inappropriate terms and certifications, unless completely edited) and sued (when a judge or other user such as the IRS wouldn't accept the valuation done on a 1004 with inappropriate terms and certifications). I know that many appraisers get by using a 1004 for divorce or other non-lending uses for many years or even their entire careers, but then there are those cases . . . when an appraiser's use of that form is challenged in court, the valuation is disregarded, the appraiser is disciplined, and/or the appraiser is sued because of the client's poor outcome resulting from use of the form.

-- Peter C

Your link is about 5 pages. Too long for me but good to bulk up report. I like short and simple and Alamode 1 page LOE is sufficient. I wish I can change some wordings. There is room for me to put in some comments.
I also like how the payment will be in Alamode's LOE.

 

[CANative]

I use my own forms which are a mashup between the AI forms and TAFs UCIAR forms, updated for the current version of USPAP. They're basically a structured narrative, although there's more "summarize" than "describe".

If I had to use a form out of the appraisalware suites I'd use the AI form. The only reason those seem like more work is because when you actually use the form as intended you are eliminating the need for additional bolt-ons (the redundant boilerplated addenda). That, and the AI forms include a couple elements that a lot of appraisers are not accustomed to completing, like HBU analysis.

I've used the AI form about a dozen times over the years. I always feel exhausted and irritable by the time I'm done. lol