Who is the client?

[Dennis J. Black ASA IFAS]

Why is a current copy of USPAP not in arm's reach?

 

[Mike Park]

Open your copy of the current edition of the USPAP and read the definition of "client": "the party or parties who engage an appraiser (by employment or contract) in a specific assignment."

I didn't know I was supposed to carry my USPAP book everywhere like some of you nerds. Do you also carry a measuring tape and clipboard with you at all times? Maybe I wasn't at the office when I was looking for that info, ever thought of that?

 

[Mike Park]

Mike Park,

I wont go into why you had to ask.

I am curious as to why its so important to know the exact language.

Let me guess. The borrower, homeowner, another lender, an attorney or someone else in possesion of your report wants to discuss issues they have with the findings and conclusions. You dont want to discuss it with them!

Am I close?

Yes, I did an appraisal on a 1004 w/out cost approach. I made a comment that the cost approach was not developed at the request of the client. The homeowner had some complaints and one of his complaint was that he never instructed me not to do the cost approach. I was addressing some of his complaints and didn't have my USPAP book with me. I usually go EVERWHERE with that thing. How could I not have it on me that day? I am so stupid.

 

[Pamela Crowley (Florida)]

Hang in there Mike, and the gang.

 

[Kevin Mc]

I didn't know I was supposed to carry my USPAP book everywhere like some of you nerds. Do you also carry a measuring tape and clipboard with you at all times?

Dale Carnegie dropout?

 

[Lee Lansford]

Yes, I did an appraisal on a 1004 w/out cost approach. I made a comment that the cost approach was not developed at the request of the client...

Mike, that is the wrong answer as to why you did not develop and communicate the Cost Approach.

See the USPAP, "Scope of Work Rule" and Standards Rule 1-4 (b).

 

[Lee Lansford]

I didn't know I was supposed to carry my USPAP book everywhere like some of you nerds. Do you also carry a measuring tape and clipboard with you at all times? Maybe I wasn't at the office when I was looking for that info, ever thought of that?

Though I don't always carry with me the current edition of the USPAP, I have familiarity with the requirements that it imposes upon me as I go about my business.

 

[PropertyEconomics]

Does anybody have the exact words that USPAP uses for determining who is the client?

Thanks in advance.

With all due respect, did you even open the book and look? :Eyecrazy:

 

[Ray Miller]

Why is a current copy of USPAP not in arm's reach?

Cause my lawyer has it and he is on a two week vacation. Reading it while on vacation, he thinks its a great read, when he can ask questions of Certified State Expert Appraisers and they don't have a clue of what in USPAP or even what USPAP Standards to be reviewing an appraisal under. Some of them boys and girls even got AI letters behind thier names.

 

[Mike Park]

Mike, that is the wrong answer as to why you did not develop and communicate the Cost Approach.

See the USPAP, "Scope of Work Rule" and Standards Rule 1-4 (b).

okay nerd. I hope I don't get my license suspended for that one...