Dave, appraisers apparently have incomplete idea of what an appraisal IS. Let’s start w/what it’s not: it is not comps, it’s not bracketing, it’s not statistics, it’s not signing off on interns, and it sure as hell is not USPAP.

Appraising IS Inspecting! OK?

Inspecting? who’d a thunk? With Hybrid crap, the powers that be have actually taught us what an appraisal IS. The ‘analysis’ portion, while encompassing every discipline under the sun, is but a minor part of the definition, the very last part of the definition. First comes the inspection. After that play all you want. Think about it. I can’t tell you how many guys I had to let go because they couldn’t measure a square. Now, this is interesting, because it points a way to reply to the TAF, the banks, the Cuomo family, Big Data (which hugely relies on Inspections) and the rest of the folks. Thinking now?

Merv

No Chris. The departure provisions removal was politically motivated within the ranks of TAF and it’s sponsors. It still required compliance with those parts of USPAP that were not in the specified departure. Too restrictive for the special interests TAF is beholding to.

By replacing it with a Scope of Work Rule, a gigantic loophole in USPAP compliance was created. The argument becomes “Wasn’t required by my client nor within the agreed SOW” rather than “Was the appraisal performed in accordance with all applicable provisions of USPAP. This is exactly why I continue to point out that TAF has failed 100% in preserving OR promoting the ‘public trust’.

Its what allows CRAP like bifurcated ‘appraisals’ to even be called appraisals.

Look, Mr. Buckley, I’m not saying you can’t do all that stuff, and I sure don’t want to take an income source from you, I’m only telling you: you MAY not do that stuff. What USPAP is telling you is: you Can do all that and you MAY do all that! I’ve done years of strictly RE brokerage and yrs of appraising. Neither I nor any other re broker will ever do a CMA w/our signatures w/o seeing/touching/inspecting on the ground the ‘subject’, EVER. We don’t need the money and we don’t need Robby Banker’s permission either.

Didn’t they get rid of the departure provision because it makes the appraisal reports worthless?

Merv,

Your sanctimonious response is a perfect example of why clients hold a low opinion of us. You are totally, totally missing the point because you are reading the paper during the USPAP CE class and worse you have no respect for the few standards we have left. I can remember the departure provision for God sake. And you clearly reveal that you will never sign the report of a trainee or associate unless you inspect the property too. Get over it! I’m sure you have years of experience and appreciate good comps as much as the rest of us. My years of experience has taught me to bracket bracket bracket. That means finding a feature(s) of the subject that lends itself to best comparison and running with it (them). I can use a little help here fellow professionals. THE POINT IS, if it is hypothetical, you have cover in USPAP. Why not use it.

Dave

No judge, no jury in the USA will accept said report. Period. USPAP will not back you, the ins co will not back you, and your lawyer will not back you. And, speaking of lawyers, I hear tell that AMC’s are pretty much exempt from State interference due to the AMCs phalanx of lawyers. Yep, the appraisers are the ones to pay the price.

You are 100% correct !!!!

I LIKE bluntness. Let me break it down a little further. ANYONE that thinks the model proposed for hybrids in most solicitations is remotely USPAP compliant, is a damned fool. The challenge is again repeated.

IF you believe your firm completes USPAP compliant bifurcated appraisals for from $25 to $75 in five to fifteen minutes using third party non-appraiser inspectors simply submit a verifiable sample for peer review here. Redact the non-public, private information. of course. Show us such a sample and we could become your biggest advocates. At a minimum, it would shut me up.

In the meantime, I can only conclude in the belief that every single huckster of these products knowingly intends to facilitate loan fraud.

DGB

DGB

Merv, yes, we MAY.

IF someone is given adequate time (measured in days rather than hours); and an adequate fee (measured in several hundreds ‘plus’ dollars, rather than tens of dollars) and allowed to provide honest, straightforward disclosure of what was done and what was not, without canned boilerplate claiming “appraisers has determined” the inspection to be competent, etc., then I’d concur that these bifurcated ether-manure reports could be USPAP compliant.

There’s still that requirement that WE must decide that the cited documents are ‘credible’.

An appraiser may use any combination of a property inspection, and documents, 76 such as a physical legal description, address, map reference, copy of a survey or 77 map, property sketch, or photographs, or other information to identify the relevant 78 characteristics of the subject property

Merv We agree with you. The problem is that TAF doesn’t agree with us. They still see the theoretical possibility of these things conforming with USPAP.

Sort of like “Is it possible for humans to fly at supersonic speeds using strap-on wings and a backpack-mounted jet?”  I offer a qualified ‘maybe’ but I wouldn’t want to be the guy that tries it. Actually, there’s probably more likelihood of this than there is of a hybrid being USPAP compliant.

Til you can’t. Desktop apr….wait, Desktop ANYTHING: is not an appraisal. PERIOD, and I don’t care what USPAP calls it. You are gonna permit a bunch of bloated bureaucrats on Virginia Beach tell you how to ‘appraise’? Wow, what a ‘profession’. I recommend you read Brian L Trotier, JD, on why you should be afraid, very afraid of ever going near a 2075 Form.

Bifurcated/Hybrid are not ‘appraisals’ OK? Never were. Will never be. Do any of you guys actually know what an appraisal ‘is’? You sure don’t if you pay any attention to USPAP. To quote that infamous Mick, Bill Clinton (his last name is not Clinton) you’all oughta  get down to the ‘isiness; of things.

Dave

First, let’s separate out the ‘appraisal’ of several real estate entities (REE’s) and ONE real estate entity (REE).

You are gonna ‘appraise’ an REE, but no physical eyes or feet on the ground. OK. Try taking that camel with your client into any court of law in the land; before a judge and/or jury, claiming you and your client have a bonafide appraisal, yesiree.

You better pray to God, your paid up on your insurance.

WOW! Click Baggs linked site ( https://nationwide-appraisal.com/appraisal-management-services/non-traditional-products/ )

$30 for an AVM. I think toilet paper at my local market is much less expensive than that. Even for the giant packages.

$125 for the toilet paper alternative and garbage package. Why pay for that which most normal folks throw away?

$250 for a ‘home inspection by a licensed inspector AND hybrid by a certified appraiser??? I don’t know an ASHI certified inspector that would touch a house inspection for under $450. As for a certified appraiser performing hybrids, that MUST be a typo.

Certifiable…a definite probability.