Workfile

[Smokey Bear]

Seems that appraisal boards love to hang people out to dry on the workfile - and no one will put on paper what is required in the file. We need to start a group that tracks discipline and tracks what is required in the workfile on each case. We need to know what they want, and check for inconsistencies - kind of like creating a caselaw history to use for defense.

On another note (no pun intended) - I've started using OneNote for my workfiles. It's so easy to use - once it's installed, it adds OneNote to your printer, and a 'send to OneNote' button in Explorer and other programs. You can also use it for screen captures. It's an electronic notebook, you can create as many notebooks with as many tabs and sub-tabs and pages as you want. Its search feature will find anything.

You can add pictures, move things around, add notes to MLS sheets (from viewing, from agents etc.) I add my photos, take pix of my sketch and notes etc, and keep it all here.

Here's a screen print of one of my workfiles:

 

[CJHNV]

Seems that appraisal boards love to hang people out to dry on the workfile - and no one will put on paper what is required in the file

You mean other than "sufficient to re-create the report, and a complete and true copy?"

I agree - it would be nice to know what the "gotcha's" would be though.

The One Note program looks pretty interesting from an organization aspect though.

 

[panappr]

Sounds like an excellent program (not there yet).... But regarding what is necessary to retain should fall under normal course of business??.... And why is it not spelled out in an AO or something. Sometimes I have a problem with noting all conversations and actions that are not necessarily relevant, but could be used against me?, like e-mails and trivial conversations about the property, a lot of he said/she said sort of thing that maybe needs to be better documented. Never been audited (can't wait), but I think I am more complete than most (don't we all). I do retain copies of all MLS with notes all over each one as well as cost approach, field notes, sketch, etc. But I also have a large list of acronyms I use which are not common, and will probably need detailed explanations..

It would be nice if some of you could post any experiences....

 

[Ray Miller]

When doing a spread sheet to find out market reaction to say bluff views of river vs. non bluff views of river. Do you keep a copy of the spread sheet in your file along with a copy of each MLS sheet for each subject that was put in the spread sheet?

Do you think the boards would require this kind of detailed data??

The same for your other adjustments in the grid of bathrooms, garages, fireplaces and such???

 

[Mike Kennedy]

Record Keeping (ETHICS RULE)


An appraiser must prepare a workfile for each appraisal, appraisal review, or appraisal consulting assignment. The workfile must include:

• the name of the client and the identity, by name or type, of any other intended users;
  true copies of any written reports, documented on any type of media;
  summaries of any oral reports or testimony, or a transcript of testimony, including the appraiser’s signed and dated certification; and
• all other data, information, and documentation necessary to support the appraiser’s opinions and conclusions and to show compliance with this Rule and all other applicable Standards, or references to the location(s) of such other documentation.

Comment: A workfile preserves evidence of the appraiser’s consideration of all applicable data and statements required by USPAP and other information as may be required to support the appraiser’s opinions, conclusions, and recommendations.

A photocopy or an electronic copy of the entire actual written appraisal, appraisal review, or appraisal consulting report sent or delivered to a client satisfies the requirement of a true copy. As an example, a photocopy or electronic copy of the Self-Contained Appraisal Report, Summary Appraisal Report, or Restricted Use Appraisal Report actually issued by an appraiser for a real property appraisal assignment satisfies the true copy requirement for that assignment.

Care should be exercised in the selection of the form, style, and type of medium for written records, which may be handwritten and informal, to ensure that they are retrievable by the appraiser throughout the prescribed record retention period.

A workfile must be in existence prior to and contemporaneous with the issuance of a written or oral report. A written summary of an oral report must be added to the workfile within a reasonable time after the issuance of the oral report.

 

[SmilingDog]

Which is why I never understood how you can keep a work file electronically in Alamode's software? Hell my files are sometime 30-50 pages thick with field notes, sales data, MLS, etc.

 

[Smokey Bear]

Mike- I think some appraisal boards could read that as requiring adequate maps of the subject's location, starting with a map of the universe, then the galaxy, then the solar system, then earth, then the US, the state and finally work your way down to the local neighborhood, in order to have a 'complete' work file. They need to get together and come up with something that is difinitive instead of arbitrary.

 

[Mr Rex]

Which is why I never understood how you can keep a work file electronically in Alamode's software? Hell my files are sometime 30-50 pages thick with field notes, sales data, MLS, etc.

Simple, print to pdf instead of paper. Handwritten field notes etc are scanned. Some folks do everything electronically . Alamode has a voice recorder feature. Walk around talking to yourself and record it, its now part of your file.

 

[Smokey Bear]

No reason to scan - when you get ready to upload your photos, take a picture of the other docs as well.

 

[Bob Ipock]

Record Keeping (ETHICS RULE)


An appraiser must prepare a workfile for each appraisal, appraisal review, or appraisal consulting assignment. The workfile must include:

• the name of the client and the identity, by name or type, of any other intended users;
  true copies of any written reports, documented on any type of media;
  summaries of any oral reports or testimony, or a transcript of testimony, including the appraiser’s signed and dated certification; and
• all other data, information, and documentation necessary to support the appraiser’s opinions and conclusions and to show compliance with this Rule and all other applicable Standards, or references to the location(s) of such other documentation.

Comment: A workfile preserves evidence of the appraiser’s consideration of all applicable data and statements required by USPAP and other information as may be required to support the appraiser’s opinions, conclusions, and recommendations.

A photocopy or an electronic copy of the entire actual written appraisal, appraisal review, or appraisal consulting report sent or delivered to a client satisfies the requirement of a true copy. As an example, a photocopy or electronic copy of the Self-Contained Appraisal Report, Summary Appraisal Report, or Restricted Use Appraisal Report actually issued by an appraiser for a real property appraisal assignment satisfies the true copy requirement for that assignment.

Care should be exercised in the selection of the form, style, and type of medium for written records, which may be handwritten and informal, to ensure that they are retrievable by the appraiser throughout the prescribed record retention period.

A workfile must be in existence prior to and contemporaneous with the issuance of a written or oral report. A written summary of an oral report must be added to the workfile within a reasonable time after the issuance of the oral report.

That is graet...that is EXACTLY what USPAP says State appraisal boards can require anything they want to be in a workfile. They may say a ham sandwich needs to be in there and a pack of gum. If they did.....who would you complain to? State appraisal boards are dictators. Whatever they dictate.....is up to them.

What USPAP means to you may have little similarity to what a particular state board thinks it means. What they think it means wins every time. They may be 100% right...or wrong...who you gonna complain to?