White Picket Fence Appraisal

[Lee Lansford]

...a BPO Review...the BPO file is provided on a spreadsheet, and once you open the the file, you need to look at the given data, and review it against data from Trulia.com and RealtyTrac.com, (NO MLS, NO TOWN RECORD, NO VISUAL INSPECTION). Then they want you to fill out an excel sheet with "your quick sale value" and "your market value"...

...How does this relate to USPAP, as far as Appraisers are concerned?...

1st, the reviewer is offering an opinon of value ("values" actually; I hope that someone is defining "quick sale value"). An opinion of value, aka, "appraisal". We all know what that means specific to USPAP.

2nd, from the current USPAP, Scope of Work Rule, Scope of Work Acceptability, lines 416-417:

"An appraiser must not allow assisnment conditions to limit the scope of work to such a degree that the assignment results are not credible in context of the itended use."

If the appraiser is offering an opinion of value, I would have to think that if the appraiser accepts what is an actually an unacceptable (limiting my data sources where my peers would not) assignment condition, the appraiser has violated the USPAP.

 

[Ken B]

This sounds like a speeding, naked, drunk driver with a dead guy in the trunk scenario.

You CAN do it, but it wouldn't be a very good idea.

 

[residentialguy]

This sounds like a speeding, naked, drunk driver with a dead guy in the trunk scenario.

You CAN do it, but it wouldn't be a very good idea.

Esp during the mid-winter in MN. Trust me, I know from experience :new_all_coholic:

 

[LI-Appr]

OK while we are here did anyone ever hear of the William Fall Group? They are advertising for appraisers.

 

[residentialguy]

I thought they were in Memphis area.

It seems they have expanded though

http://www.williamfallgroup.com/default.htm

 

[Ken B]

Esp during the mid-winter in MN. Trust me, I know from experience :new_all_coholic:

Were you the driver or the dead guy in the trunk?

 

[LI-Appr]

Me 2 but they had a add in my local pennysaver. Go figure.

 

[LI-Appr]

Who are these duds? They talk about being an employee.
Res Guy U there?

 

[residentialguy]

WM FALL

APPRAISER REQUIREMENTS
-State licensed or State certified
-Industry experience (minimum of 3 years)
-Experience with complex properties: Income Properties preferred
-Successful execution of prerequisite proficiency examination
-Commitment to ongoing quality training and examinations
It is our tradition to keep in step with a continuous improvement process. Additionally, ongoing internal education and subsequent examination has allowed us to insure quality appraisal products, driving desired results. This educational focus allows us to consistently provide our customers with the best available and reliably detailed review analyses. Our employee staff appraisers have ready access to our Chief Residential Appraiser, John McIntyre, SRA and Daniel Killam, MAI, our Chief Commercial Appraiser.

 

[residentialguy]

Who are these duds? They talk about being an employee.
Res Guy U there?

Yeah, I think they do both in house (staff appraisers) and independant appraisers. It is confusing. I get highly suspect when they don't make things clear.