The ASB has just released their October 2007 Q & A.
- Client Altering the Report (follow-up)
- Are Instant Messages or Text Messages Appraisal Reports?
- Checking "Stable" vs. "Declining
- Is Compliance with STANDARD 3 Required when Submitting a Complaint
The first topic [Client Altering the Report] was previously discussed after the September Q&A: Appraisal Foundation says appraisers are NOT responsible for altered reports! If you recall, the AQB took the position:
Once the appraisal report has been transmitted to the client, USPAP does not place further responsibility on the appraiser for the client’s use of that report.
The October Q&A attempts to clarify that position as well as:
Question: "I perform appraisal assignments for a client who asks to be notified of my final value conclusion via instant message or text message. Is this communication to the client an appraisal report that must comply with USPAP?"
Question: "When performing residential appraisal assignments I use “standard” preprinted appraisal software forms. The forms ask me to identify whether neighborhood property values are “increasing,” “stable,” or “declining.” I have been told that lenders won’t accept appraisal reports where “declining” is checked (even when this is an accurate analysis), so I usually check “stable” to accommodate the underwriting process. Is this a violation of USPAP?"
Question: "I am a real property appraiser. I want to submit a complaint regarding an appraisal report to my state appraiser regulatory agency. I would like to express my opinions and comments about the quality of the appraisal report in a cover letter. Am I obligated to comply with STANDARD 3 regarding my opinions and comments regarding the appraisal? If so, who is my client?"
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