Tagged: fees

AQB Experience Requirements and College Degree Requirements Changes 24

AQB Proposes Alternative to College Degree Requirement

In a long-awaited and highly anticipated announcement, the Appraisers Qualifications Board (AQB) has just released an Exposure Draft (May 18) that indicates it intends to walk back the bachelor’s degree requirement for Certified Residential appraisers and more. The AQB also is proposing significant changes to appraiser experience requirements. An AQB Exposure Draft is issued in anticipation of implementing changes to the Real Property Appraiser Qualification Criteria (Criteria), which is the set of education, experience, and examination requirements for appraisers to achieve a state license or certification. The AQB always sets a comment deadline and is committed to reading and considering...

Appraisal / Appraisal Organizations / AQB / E&O / Errors & Omissions / The Appraisal Foundation

Requests from Lenders with Specific Statements 4

Requests from Lenders with Specific Statements

Lenders’ Requests, C&R Fees, Email Blasts, SOW, Unlicensed AMCs and more… What is the best way to ensure you receive a customary and reasonable fee for an appraisal? Answer: Only accept assignments with a customary and reasonable fee! That being said, here is a reminder of a USPAP requirement to consider before you respond to that email or text blast…. Scope of Work Rule Identify the problem to be solved. Determine and perform the scope of work necessary to develop credible assignment results. Disclose the scope of work in the report. Comment: Scope of work includes, but is not limited...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Appraisal Fees Do Not Tell The Whole Story 19

Appraisal Fees Do Not Tell The Whole Story

Is it possible that the company with the lowest bid will also do the worst job? If you are on social media platforms where appraisers hang out for any length of time, you are bound to see a version of the following, on a regular basis: “I was just offered $275 to do a full appraisal in my hometown. Before I had time to email the AMC and tell them how ridiculous a fee like that is here, some other appraiser accepted it! Can you believe that? What kind of low-life appraiser does a full 1004 for $275?” This kind...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Home Valuation Code of Conduct

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The Dawn of a New Era in Appraising

A new frontier in appraising is upon us… Approximately 30 years ago the automobile industry began to introduce computers into cars and since that time they have never been the same. What was once considered a rather simple procedure – tuning up your engine or even changing the spark plugs – has become an almost impossible project for anyone, except the highly trained automobile technician. Today nearly every aspect of your car is aided or controlled in some manner by a computer. Digital radios with CD players, climate control systems, cruise control and pollution control devices are just a few...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Software / Appraisal Technology

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