Editor’s Note: The following Q&A is from Lee Hess, PhD, author of Navigating USPAP. “The USPAP Q&A that have appeared in Working RE previously have generated many additional questions from readers,” said Hess. “Here are more questions and answers that affect the every day practice of appraising.” USPAP Q&A: Clarifying Competency, Reviews, Past Sales &…
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Sincerity vs. Competency By Diana Jacobs Question: “Can you believe in your heart that you did the right thing and still be wrong?” The answer is yes. Why? Because USPAP instructs us that “ethics” are about intent while “competency” is about judgment and execution. When developing a “scope of work” decision, professional appraisers are not...…
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Editor’s Note: In this story, USPAP instructor Bryan Reynolds offers some solid advice on making the best of what can be a difficult situation: dealing with an attorney and going to court.
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Editor’s Note: With declining values come lawsuits and complaints. Somebody has filed a complaint against you with your state’s appraisal board. Now what do you do? Tim Andersen, MAI gives you some suggestions.
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The new normal for too many appraisers these days is being banished to a “do not use” list by a lender, without any opportunity for rebuttal or even knowing why. Now here’s a new twist: at least one large lender is giving appraisers the chance to rebut a questionable review- the problem is that doing…
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Editor’s Note: You’d be amazed all you don’t know regarding your rights as an appraiser. The following was gleaned from the webinar series: How to Limit Liability, Maintain Independence, and Fight Influence by Richard Hagar, SRA. How Well Do You Know Your Rights? By David Brauner, Editor Here are some questions for you- the answers...…
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Editor’s Note: Author Phil Spool, ASA, represents appraisers, E&O insurance companies and lenders as an expert witness for the prosecution as well as for the defense. In this story, he shares the reason why appraisers get sued. Why Appraisers Get Sued by Philip G Spool, ASA Lawsuits can be divided between those you cannot control...…
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Editor’s Note: Appraiser Phil Spool shows how an effective engagement letter puts you in control of an assignment. Doing it Right: Engagement Letters by Phil Spool, ASA Now that many of you are searching for new non-lender clients in the aftermath of the mortgage crisis and HVCC (Home Valuation Code of Conduct), it is advisable…
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