- Joined
- Apr 4, 2007
- Professional Status
- Certified Residential Appraiser
- State
- Tennessee
AO-2 was updated for the current version of USPAP (hence the reason it would be discussed in an update course). So it is very unlikley to be changed again soon.
I do not know what was said in the class, because I was not there. I do know why AO-2 was updated. I was there for that
In a nutshell, AO-2 was old. It was written in a world where "exterior only" inspections and "desk top" appraisals were things of myth. Now that these mythical things have become common, the AO-2 was edited to better reflect current practice and terminolgy. It was also made more consistent with the material taught in the instructor course regarding problem identification and relevant property characteristics.
A thorough explanantion for the changes to USPAP can be found in the ASB's Summary of Action reports, which are published regularly.
I do not know what was said in the class, because I was not there. I do know why AO-2 was updated. I was there for that
In a nutshell, AO-2 was old. It was written in a world where "exterior only" inspections and "desk top" appraisals were things of myth. Now that these mythical things have become common, the AO-2 was edited to better reflect current practice and terminolgy. It was also made more consistent with the material taught in the instructor course regarding problem identification and relevant property characteristics.
A thorough explanantion for the changes to USPAP can be found in the ASB's Summary of Action reports, which are published regularly.