Wednesday , 20 January 2021

USPAP

7 Key Considerations for Using a Restricted Appraisal Report

In any real estate appraisal assignment, you must use one of the two written report options outlined in USPAP: Appraisal Report or Restricted Appraisal Report. A diligent appraiser can utilize the Restricted Appraisal Report option when it makes good sense for the assignment and client. Before you take on a Restricted Appraisal Report, here are some important things to consider. …

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Avoid Appraisal Disciplinary Action with These Do’s and Don’ts

As a professional appraiser, you don’t want to have a disciplinary complaint filed against you, and you certainly don’t want to be the subject of a complaint that results in disciplinary action. So, how can you prevent these undesirable consequences? Here are several do’s and don’ts to help you avoid situations that may get you into trouble as a real …

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6 Key Competencies for Appraisal Review Work

As a real estate appraiser, how do you know if you can credibly perform appraisal reviews? USPAP provides the review appraiser with plenty of flexibility, all grounded in ethics and competence. Competence comes with knowledge and experience, but it also requires you to possess certain skills, technology, and abilities. Here are some of the key competencies needed for appraisal review …

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Client versus Intended User

A student in my USPAP Update class recently asked me, “I know I can discuss the report with the client, but I’ve talked about the report with other intended users, too. Isn’t that why they are an ‘intended user’?” Let’s take a look at this issue in a bit more depth, starting with the definitions of “client” and “intended user” …

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TAF, AARO, and ASC Issue Joint Message Regarding COVID-19

On March 18th, The Appraisal Foundation (the Foundation), the Association of Appraisal Regulatory Officials (AARO) and the Appraisal Subcommittee (ASC) issued a joint message for appraisers and regulators regarding COVID-19. The Foundation has created a page on its website titled “Coronavirus and Appraisers: Your Questions Answered.”  This page can be accessed here. The Foundation reminds appraisers and users of appraisal …

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Transitioning to Commercial Appraising

So, you’re contemplating a career switch to commercial real estate appraising? What goes into the process and what skills are necessary to make that transition smooth? The following is my attempt (and I use attempt very loosely because there a myriad of things that go into the commercial real estate appraisal industry) to provide a brief guideline for the un-initiated. …

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Spotlight on Appraisal: Ad Valorem Appraisal

It’s no secret that the general public does not have a thorough understanding of the appraisal profession, even though the work of appraisers has a profound effect on people’s lives. At McKissock, we not only want to be a go-to resource for appraisers, but we want to help spread awareness about what appraisers actually do and foster a greater understanding …

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