Editor’s Note: Regulator and appraiser Larry Disney shows how USPAP is more flexible than many presume, when it comes to reassigning appraisal reports. Dos and Don’ts: Readdressing, Reassigning and Transferring Reports By Larry Disney Real property appraiser licensees often ask, “Can I readdress, reassign or transfer a real property appraisal report?” The answer is “no,”...…
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Three quarters of the way through the year, some appraisers are still unsure about how to deal with the change in reporting requirements that took effect January 1, 2003 (USPAP 2003). Some appraisers are going back three years on the subject and on the comparables; some on the subject only. What’s required? What’s prudent?
In…
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Preparing for Success By C. W. Wilson, GAA/RAA The following quote is enough to make any appraiser reach for the sleeping pills. “The appraisal profession may be dying…Loss of present appraisal markets to other professionals and the demand for non-appraisal analysis which will be provided by firms outside the appraisal industry will limit the appraiser’s...…
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Protecting Your Digital Signature By Sean Heath Something occurred to me as I was going through my mail. No one is rushing out to forge my TV Guide renewal form or my letters to Mom. We don’t hear of anyone forging junk-mail removal requests or party invitations either. Obviously, these types of documents are trivial...…
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Appraisers and Mold – Responsibility, Competency and Liability By Doug Smith, IFAS The mold issue is a developing story and one that is gaining momentum everyday. When it comes to mold, there are three important areas appraisers need to consider. First, due to the dangerous nature of some molds, appraisers must take their responsibilities seriously...…
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One on One with the Appraisal Foundation Exclusive Interview The following is the first in a series of question and answers with The Appraisal Foundation (TAF) on behalf of licensed real estate appraisers nationwide. TAF is charged with establishing uniform minimum appraiser qualifications and Uniform Standards of Professional Practice (USPAP). Working RE: Many state appraisal...…
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Background
The Uniform Standards of Professional Appraisal Practice (USPAP) has been at the center of a tug of war for some time. On one side is the Appraisal Qualifications Board (AQB) of the Appraisal Foundation, which wants ultimate control over USPAP course materials and providers. On the other side are the states, which like to make…
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A move is underfoot to change the appraisal regulatory system. The first shot across the bow was fired by the Georgia Board, which is calling for the elimination of the Appraisal Subcommittee (ASC), among other things, and a shift from federal control to the states. Two respected appraisers, Frank Gregoire and George Hatch, take a…
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Bye, Bye ASC? Appraisal Subcommittee Under Fire Is it Time to Start Over? You may already know that late last year the Georgia Appraisal Board, in a letter to Sen. Zell Miller, (D-Ga.), called for broad changes to the appraisal regulatory structure, including sun setting the Appraisal Subcommittee (ASC). What you may not know is...…
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Question: I have been performing a lot of exterior drive-by appraisals for REOs and pre-foreclosure purposes. The intended use is not for any type of financial transaction but for estimating market value purposes only. What is the level of risk for these types of appraisals compared to purchases and refis? Typically these appraisals are for…
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