Would Adding A 1004mc To A Completed Appraisal Comply With USPAP?

[CANative]

There is nothing in the 1004 that requires the 1004MC. We don't even know who the client is? Your presumptions are humorous. Maybe you should Private message the OP. I don't need your help. I need more popcorn. Do your civic duty....Genius.

Another bizarre and nonsensical post. You should give up while you're behind.

Appraisal is not a profession. It is a business. If some client didn't remember to say they need an MC and asks for it later, just mumble and grumble about the extra 10 minutes of work but smile and say "Yes sir, can I do anything else for you?"

Good for business even if it is their fault.

 

[Eli]

I still don't think you're really an appraiser. You see conspiracies in everything. You've been posing (no pun intended) irrelevant, obtuse and frankly, stupid, questions on this forum for years.

Now it appears you don't even understand the concept of SoW nor the SoW Rule.

Please PM the OP. They would love to hear from a rocket surgeon like you! Can you CC the client and borrower and whoever else.?

It is clear we are outside looking in. Don't assume unless it clearly disclosed.

 

[CANative]

PM the OP about what. The OP got the answer. It's a request for additional analysis. It's not a new appraisal assignment. The new analysis is communicated in a new report with the same effective date.

The only problem is if the MLS system he or she uses won't let the MC draw data from a past 1 year period and it's been a couple of weeks and he has a very active market. But that was rare, the GSE's no longer require this anyway, so the OP would just need to write a little explaining this issue.

But no, you read too many tabloid journals while waiting in the Piggly Wiggly check out line.

 

[Eli]

Who don't understand whom and whom is stupid?

 

[djd09]

if the appraiser decides the SOW , then why are they slamming down the throats of appraisers, third party inspectors.

oh never mind.

 

[Eli]

PM the OP about what. The OP got the answer. It's a request for additional analysis. It's not a new appraisal assignment. The new analysis is communicated in a new report with the same effective date.

The only problem is if the MLS system he or she uses won't let the MC draw data from a past 1 year period and it's been a couple of weeks and he has a very active market. But that was rare, the GSE's no longer require this anyway, so the OP would just need to write a little explaining this issue.

But no, you read too many tabloid journals while waiting in the Piggly Wigglh check out line.

Assuming again? You need a USPAP course? Or is that an assumption or presumption? Please explain if that is extraordinary or not.

 

[djd09]

What's the Scoop on Scope?

7. Scope of work does not cover

1. the extent of property identification.
2. the type of research and analysis performed.
3. the means by which report results are communicated.
4. the extent of property inspection.

Sorry, the correct answer is "the means by which report results are communicated."

 

[CANative]

Eli, you and some of the others are not thinking of and using the term "Scope of Work" correctly.

Assignment conditions: "The clients wants this, that and the other thing in addition to the regular stuff."

Scope of work: "I did this, this, this and this while developing and reporting the appraisal including the clients specific assignment conditions."

 

[CANative]

What's the Scoop on Scope?

7. Scope of work does not cover

1. the extent of property identification.
2. the type of research and analysis performed.
3. the means by which report results are communicated.
4. the extent of property inspection.

Sorry, the correct answer is "the means by which report results are communicated."

I think that's the one I missed.

 

[Tom4value]

Tom (and eli, and Z and others) you guys are just plain wrong and your limited understanding of this business and it's professional standards is embarrassing.

The scope of work is set by the appraiser, not the client. The scope of work is a list of things the appraiser did to comply with their client's needs and expectations in solving the appraisal problems 12 steps (or is it 7 or 5?). The scope of work applies only to the appraiser.

You, like the mosquito, are totally missing my point. I am telling you, like I told Mr. Buzbuz many times, I know ultimately when performing the assignment we set the scope of work. But how to we determine that?

USPAP says that step #1 is to “identify the problem to be solved”. To do that, we find out what the client wants. If they say, “I want an appraisal done with a full inspection, using any and all approaches to value that are applicable, to arrive at an opinion of market value that is supportable and credible.”, they are telling us the scope of work they want for the assignment. We would agree that this is reasonable and proceed with the assignment, indicating in the report the scope of work we did for the assignment. In this case, the appraiser and the client are setting the scope of work.

They may want some different scope of work (exterior only, do not develop an approach that may be applicable but not necessary for credible results, etc.). If we determine that what they want could be done in conformance with USPAP we would not refuse to do it because simply we determine the scope of work, right? That is what I mean by the client determining the scope of work. Give the client what the want as long as we confirm to USPAP.