1 What/Who Determines that an Appraiser is Qualified in our Program? Mike Jones, SR/WA, Maryland Certified General Appraiser Realty Specialist, FHWA Office of Real Estate Services
2 Is it becoming tougher for you to find Qualified Appraisers?
3 -20% As of December 31, 2014, the number of active real estate appraisers in the U.S. stood at 78,800. The average annual rate of decrease is nearly 3.0 percent a cumulative decline of 20 % since Source: U.S. VALUATION PROFESSION FACT SHEET (Dec 2014)
4 A broader analysis suggests the rate of decrease could rise sharply over the next 5-to- 10 years due to retirements, reduced numbers of new people entering the appraisal profession, economic factors, and greater use of data analysis technologies. Source: U.S. VALUATION PROFESSION FACT SHEET (Dec 2014)
5 2/3 2/3 of the licensed/certified appraisers in the country are above the age of 50. Age Range > <25 % of Appraisers 11% 51% 24% 12% 1% Source: Appraisal Institute: U.S. VALUATION PROFESSION FACT SHEET (Dec 2014)
6 One possible source for your appraisers?
7 QUALIFIED Defined having the necessary skill, experience, or ; knowledge to do a particular job or activity: having the qualifications to do something. having complied with the specific requirements or precedent conditions (as for an office or employment) Source: Merriam Webster on-line
8 What are some of the factors in deciding if an Appraiser is Qualified to work for your Agency? 1. Federal law/regulations/policy & guidance 2. Uniform Standards of Professional Appraisal Practice (USPAP) (re: State licensed/certified appraisers) 3. State law/regulations/policy & guidance (including STA s Realty or Appraisal Manual)
9 Words are Important!... (especially the words in law and regulation)
10 Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as amended (UA) SUBCHAPTER I GENERAL PROVISIONS Definitions (13) The term "appraisal" means a written statement independently and impartially prepared by a qualified appraiser setting forth an opinion of defined value of an adequately described property as of a specific date, supported by the presentation and analysis of relevant market information.
11 Federal Regulations 23 CFR Part 710
12 Federal Regulations 23 CFR State responsibilities. (c) Right-of-way (ROW) operations manual. Each STD which receives funding from the highway trust fund shall maintain a manual describing its right-of-way organization, policies, and procedures.
13 Federal Regulations 23 CFR State responsibilities. The manual shall describe functions and procedures for all phases of the real estate program, including appraisal and appraisal review.. (c) The manual shall be in sufficient detail and depth to guide State employees and others involved in acquiring and managing real property.
14 Federal Regulations 23 CFR State responsibilities. Does your manual describe the appraisal and appraisal review requirements of the real estate program? Is the manual written in sufficient detail and depth to guide State employees and others involved in the Appraisal and Appraisal Review processes?
15 Federal Regulations 23 CFR State responsibilities. How often does your Agency conduct training for staff and contract fee appraisers, with respect to the appraisal and appraisal review requirements as contained in your manual? Is the successful completion of such training a requirement appraisers who are performing valuation assignments for your agency?
16 Federal Regulations 23 CFR State responsibilities. (h) Use of other public land acquisition organizations or private consultants. The STD may enter into written agreements with other State, county, municipal, or local public land acquisition organizations or with private consultants to carry out its authorities under paragraph (b) of this section.
17 Federal Regulations 23 CFR State responsibilities. (h)... Such organizations, firms, or individuals must comply with the policies and practices of the STD. The STD shall monitor any such real property acquisition activities to assure compliance with State and Federal law and requirements and is responsible for informing such organizations of all such requirements and for imposing sanctions in cases of material non-compliance. Source: 23 CFR (h)
18 Federal Regulations 23 CFR State responsibilities. Do all the LPAs in your State follow your ROW or Appraisal Manual? Are you sure about that? Are you REALLY sure? How do you ensure that all LPAs are carrying out the Appraisal/Appraisal Review activities in compliance with all Federal and State laws, regulations, policies and procedures?
19 Federal Regulations 23 CFR State responsibilities. In the last 3-5 years, how many (or what percentage) of LPA projects has your Agency monitored to assure the compliance of appraisal and appraisal review activities with State and Federal law and requirements? During that period, were there any instances in which your Agency imposed sanctions in cases of material non-compliance with your STA s appraisal or appraisal review requirements?
20 Federal Regulations 49 CFR Part 24
21 Federal Regulations 49 CFR Part Definitions and acronyms. (3) Appraisal. The term appraisal means a written statement independently and impartially prepared by a qualified appraiser setting forth an opinion of defined value of an adequately described property as of a specific date, supported by the presentation and analysis of relevant market information.
22 Federal Regulations 49 CFR Part (d) Qualifications of appraisers and review appraisers (d) Qualifications of appraisers and review appraisers. (1) The Agency shall establish criteria for determining the minimum qualifications and competency of appraisers and review appraisers. Qualifications shall be consistent with the scope of work for the assignment....
23 Federal Regulations 49 CFR (d) How rigorous are your Agency s established criteria for determining the minimum qualifications and competency of appraisers and review appraisers? What is your process for ensuring that the appraisers qualifications are consistent with the scope of work for the project?
24 Federal Regulations 49 CFR Part (d) Qualifications of appraisers and review appraisers (d) Qualifications of appraisers and review appraisers. (1) (continued)... The Agency shall review the experience, education, training, certification/licensing, designation(s) and other qualifications of appraisers, and review appraisers, and use only those determined by the Agency to be qualified. (See appendix A, (d)(1).) seq.).
25 Federal Regulations 49 CFR (d) 1. How does your Agency select its appraisers on each project? Do you have an Approved Appraiser List? 2. Do you require the LPAs to only use Appraisers from your STA s Approved List? 3. If not, how does your STA ensure that LPAs use only Qualified Appraisers?
26 Federal Regulations 49 CFR Part (d) Qualifications of appraisers and review appraisers (Appendix A, (d)(1). Section (d)(1). The appraiser and review appraiser must each be qualified and competent to perform the appraisal and appraisal review assignments, respectively. Among other qualifications, State licensing or certification and professional society designations can help provide an indication of an appraiser's abilities.
27 Federal Regulations 49 CFR (d) 1. How does your Agency assign its Review Appraiser(s) on each project? 2. How does your Agency evaluate the qualifications and competency of its Review Appraisers (staff and fee reviewers)? 3. How often do your review appraisers meet as a group to discuss issues and possible improvements to the process/program?
28 Federal Regulations 49 CFR Part (d) Qualifications of appraisers and review appraisers (2) If the Agency uses a contract (fee) appraiser to perform the appraisal, such appraiser shall be State licensed or certified in accordance with title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C et seq.).
29 WHY? Why does the regulation require only contract or fee appraisers to be licensed or certified? (Why not Agency staff appraisers)?
30 Why didn t the UA or 49 CFR clearly define Qualified Appraiser? Agriculture Commerce Defense Education Energy EPA FEMA GSA HHS HUD Interior Justice Labor NASA TVA USDOT VA Plus 50 States, Washington D.C and Puerto Rico all have multiple agencies that acquire Real Property Interests in connection with Federal and Federallyassisted Programs and Projects.
31 Uniform Standards of Professional Appraisal Practice (USPAP) APPRAISER: one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. Comment: Such expectation occurs when individuals, either by choice or by requirement placed upon them or upon the service they provide by law, regulation, or agreement with the client or intended users, represent that they comply. Source: USPAP Edition; PREAMBLE and Advisory Opinion 21, USPAP Compliance
32 USPAP - Competency Rule Being Competent The appraiser must determine, prior to accepting an assignment, that he or she can perform the assignment competently.... Source: USPAP Edition; Competency Rule
33 USPAP - Competency Rule Being Competent Comment: Competency may apply to factors such as, but not limited to, an appraiser s familiarity with a specific type of property or asset, a market, a geographic area, an intended use, specific laws and regulations, or an analytical method. Source: USPAP Edition; Ibid.
34 USPAP Scope of Work Rule For each appraisal and appraisal review assignment, an appraiser must: 1. identify the problem to be solved; 2. determine and perform the scope of work necessary to develop credible assignment results; and 3. disclose the scope of work in the report. Source: USPAP Edition; Scope of Work Rule.
35 Appendix: 49 CFR 103(a) Appraisal requirements The term "scope of work" defines the general parameters of the appraisal. It reflects the needs of the Agency and the requirements of Federal and federallyassisted program appraisal practice. It should be developed cooperatively by the assigned appraiser and an Agency official who is competent to both represent the Agency's needs and respect valid appraisal practice. Source: Appendix; 49 CFR (a) Appraisal requirements.
36 Appendix: 49 CFR 103(a) Appraisal requirements How does your Agency cooperatively develop the scope of work with the assigned appraiser? How does your Agency insure that LPAs cooperatively develop the scope of work with the assigned appraiser on their projects?
37 USPAP Scope of Work Rule Problem Identification An appraiser must gather and analyze information about those assignment elements that are necessary to properly identify the appraisal or appraisal review problem to be solved. Source: USPAP Edition; Scope of Work Rule.
38 USPAP Scope of Work Rule Communication with the client is required to establish most of the information necessary for problem identification. However, the identification of relevant characteristics is a judgment made by the appraiser that requires competency in that type of assignment. Source: USPAP Edition; Scope of Work Rule.
39 USPAP Scope of Work Rule Assignment conditions include assumptions, extraordinary assumptions, hypothetical conditions, laws and regulations, jurisdictional exceptions, and other conditions that affect the scope of work. Laws include constitutions, legislative and court-made law, administrative rules, and ordinances. Regulations include rules or orders, having legal force, issued by an administrative agency. Source: USPAP Edition; Scope of Work Rule.
40 USPAP Jurisdictional Exception Rule In an assignment involving a jurisdictional exception, an appraiser must: 1. identify the law or regulation that precludes compliance with USPAP; 2. comply with that law or regulation; 3. clearly and conspicuously disclose in the report the part of USPAP that is voided by that law or regulation; and 4. cite in the report the law or regulation requiring this exception to USPAP compliance. Source: USPAP Edition; Jurisdictional Exception Rule.
41 USPAP Q&A Vol. 10, No. 6; June 2008 Special Note: The following questions and responses address issues related to assignments subject to the jurisdiction of "The Uniform Relocation Assistance and Real Property Acquisitions Act" (aka "Uniform Act").
42 USPAP Q&A Vol. 10, No. 6; June 2008 The ASB has been engaged in a series of communications with appraisers who perform work under the Uniform Act. The following questions are typical of the questions that have arisen over the years. Since the issues have broader application, the ASB has elected to publish these specific questions and answers to assist other users of USPAP in similar work or to assist in the general understanding of the JURISDICTIONAL EXCEPTION RULE.
43 USPAP Q&A Vol. 10, No. 6; June 2008 As with all USPAP Q&A, the advice presented is based on the specific circumstances presented and may not be applied equally to seemingly similar situations. Appraisers are cautioned not to rely on the USPAP Q&A as a substitute for developing a thorough understanding of the provisions of the "Uniform Act".
44 USPAP Q&A: Vol. 10, No. 6; June 2008 UNIFORM ACT AND SCOPE OF WORK Question: I'm doing an appraisal assignment for a government agency that is subject to the jurisdiction of The Uniform Relocation Assistance and Real Property Acquisitions Act of 1970, as Amended" (aka "Uniform Act"), and its implementing regulation, 49 CFR Part 24. The regulation requires the acquiring agency to develop the scope of work and define the appraisal problem "cooperatively" with the appraiser. This is somewhat different from USPAP's SCOPE OF WORK RULE which places that responsibility primarily on the appraiser.
45 USPAP Q&A: Vol. 10, No. 6; June 2008 UNIFORM ACT AND SCOPE OF WORK Question: The agency is providing a draft scope of work and asking me to comply with that as a minimum assignment condition. This raises two possible scenarios: (A) If the agency scope of work seems appropriate, do I need to state somewhere in my report that the scope of work was developed by the agency with my concurrence? (B) Assume that I believe the agency scope of work is inappropriate or inadequate. I discuss this with the agency and they insist that the scope of work they have developed is appropriate for their program needs. Can I complete the assignment and be in USPAP compliance?
46 Response: The answer to both questions is the same. It is the appraiser's responsibility to determine and perform the appropriate scope of work. The scope of work performed in the assignment must be disclosed in the report. However, USPAP does not address disclosure of the client's role in determining the scope of work. Direction from the client on the scope of work is acceptable if the appraiser is able to develop credible assignment results. If the scope of work specified by the client does not allow the development of credible assignment results, the appraiser needs to discuss changing the scope of work or withdraw from the assignment.
47 USPAP FAQ: Uniform Act and Scope of Work 1. Does your contract fee appraisers understand that your Agency is required to participate in the development of the Appraisal Scope of Work and that the ASB has issued an FAQ on that issue?
48 USPAP Q&A: Vol. 10, No. 6; June 2008 "BEFORE ACQUISITION VALUE" AND STANDARD RULE I- 4(f) Question: I'm doing an appraisal assignment for a government agency that is subject to the provisions of the "Uniform Act" and its implementing regulation (49 CFR Part 24). In the "Before acquisition value" appraisal, the regulation requires appraisers to disregard any decrease or increase in the market value of the property that has been caused directly by the project. This regulation appears to conflict with USPAP, Standard Rule I- 4(f), which addresses the analysis of the effect on value of anticipated public or private improvements.
49 USPAP Q&A: Vol. 10, No. 6; June 2008 "BEFORE ACQUISITION VALUE" AND STANDARD RULE I-4(f) Question: (continued) Obviously, I must comply with the Federal law and regulations, but I am unsure how to reconcile this with the requirements of USPAP, Standard Rule l-4(f). Does this situation create a USPAP "Jurisdictional Exception" or is this simply an assignment condition?
50 USPAP Q&A: Vol. 10, No. 6; June 2008 Response: 49 CFR Part 24 is an assignment condition where it applies. The 49 CFR Part 24 regulation that requires appraisers to disregard any decrease or increase in the market value of the property that has been caused directly by the project in the "Before acquisition value" appraisal is not a Jurisdictional Exception because the regulation does not conflict with the requirements of USPAP. A Jurisdictional Exception is only created where USPAP is contrary to a requirement of law or public policy.
51 USPAP Q&A: Vol. 10, No. 6; June 2008 Response: (continued) USPAP SR l-4(f) becomes applicable in an assignment only when the scope of work includes the analysis of anticipated improvements. When analyzing anticipated public or private improvements, located on or off the site, an appraiser must analyze the effect on value, if any, of such anticipated improvements to the extent they are reflected in market actions. (bold added for emphasis)
52 USPAP Q&A: Vol. 10, No. 6; June 2008 Response: (continued) The intended use of the assignment drives the appraiser's decisions in identifying relevant property characteristics and assignment conditions. The decision to analyze the effect on value of an anticipated off-site improvement is part of the scope of work decision. The scope of work in "Before acquisition value" assignments prepared under the Uniform Act is based on a condition that anticipated project improvement will not be recognized; therefore SR 1-4(h) does not apply.
53 USPAP Q&A: Vol. 10, No. 6; June 2008 Response: (continued) In an appraisal with an assumed condition that is contrary to known fact, the assumed condition is a hypothetical condition. A "Before acquisition value" appraisal assignment that does not include recognition of the project would require the use of a hypothetical condition because this is contrary to a known fact.
54 USPAP Q&A: Vol. 10, No. 6; June 2008 Response: (continued) The Comment to Standards Rule I-2(g) states: A hypothetical condition may be used in an assignment only if: use of the hypothetical condition is clearly required for legal purposes, for purposes of reasonable analysis, or for purposes of comparison; use of the hypothetical condition results in a credible analysis; and the appraiser complies with the disclosure requirements set forth in USPAP for hypothetical conditions. (bold added for emphasis)
55 USPAP Q&A: Vol. 10, No. 6; June 2008 Response: (continued) In the reporting of a real property appraisal report, USPAP Standards Rule 2- I (c) states that the real property appraisal report must: clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical conditions, and limiting conditions used in the assignment. (bold added for emphasis)
56 clearly and conspicuously: state all extraordinary assumptions and hypothetical conditions; and state that their use might have affected the assignment results; (bold USPAP Q&A: Vol. 10, No. 6; June 2008 added for emphasis) Response: (continued) This requirement creates an obligation to disclose all hypothetical conditions used in the assignment. USPAP real property appraisal report requirements state that the report must, at a minimum: clearly and conspicuously: state all extraordinary assumptions and hypothetical conditions; and state that their use might have affected the assignment results; (bold added for emphasis).
57 clearly and conspicuously: state all extraordinary assumptions and hypothetical conditions; and state that their use might have affected the assignment results; (bold USPAP Q&A: Vol. 10, No. 6; June 2008 added for emphasis) Response: (continued) This requirement directs the appraiser to provide a clear and conspicuous statement of the hypothetical conditions. The form and location of the statement is left to the discretion of the appraiser, but it must be clear and conspicuous to intended users.
58 USPAP FAQ: Before Acquisition Value and Standard Rule I-4(f) 1. Do your staff and contract fee appraisers understand that the Project Influence Requirement in 49 CFR (b) is an Assignment Condition (not a Jurisdictional Exception ) and that the ASB has issued an FAQ on that issue? (b) Influence of the project on just compensation. The appraiser shall disregard any decrease or increase in the market value of the real property caused by the project for which the property is to be acquired, or by the likelihood that the property would be acquired for the project, other than that due to physical deterioration within the reasonable control of the owner.
59 USPAP FAQ: Before Acquisition Value and Standard Rule I-4(f) 1. Do your appraisers understand that compliance with 49 CFR (b) creates a Hypothetical Condition? 2. Do they understand that in the case of a partial acquisition, the valuation of the subject property in the After situation (as if the project is complete) is also (in most cases) a Hypothetical Condition?
60 USPAP - Advisory Opinion 22 Scope of Work in Market Value Appraisal Assignments for Real Property AO 22 Scope of Work in a Market Value Appraisal Competently determining the scope of work is an essential step in all assignments performed under USPAP. Source: USPAP Edition; AO-22).
61 USPAP - Advisory Opinion 22 Importance of Identifying the Specific Definition of Market Value... There are many definitions of value, some of which are market value definitions. Other definitions of value appear to be related to market value but are not called market value. (Source: USPAP Edition; AO-22).
62 (Source: USPAP Edition; AO-22). USPAP - Advisory Opinion 22 Importance of Identifying the Source of a Market Value Definition... Definitions of market value from different sources contain different conditions... Each definition is unique, with authority only in a specific jurisdiction or to a specific client group. Therefore, identification of the source for the definition of value to be applied in an assignment is essential.
63 State laws/regulations ( All Over the Map ) There is more differentiation among the States with respect to the valuation of real property, than any other area of the Realty Program, State Laws: Some States must appraise under the Federal Rule Some must appraiser under the State Rule.
64 State laws/regs ( All Over the Map ) A number of STAs must comply with appellate court rulings pertaining to certain aspects of the valuation of real property rights in connection with eminent domain in a given State. Some States have laws or regulations exempting State employees from any requirement to be State Licensed or Certified in the performance of valuation assignments on behalf of their agency.
65 State policy & guidance Some State DOTs will pay for the training and licensing fees to encourage staff to pursue an appraisal license or certification. Some States will outsource appraisal assignments but have a policy of having staff perform all appraisal review assignments.
66 State policy & guidance Some State DOTs have a policy whereby they will frequently outsource both appraisal and appraisal review assignments. Every State is different
67 Re-cap: WHAT determines that an appraiser is qualified? 1. Federal law/regulations/policy & guidance 2. Uniform Standards of Professional Appraisal Practice (USPAP) (re: State licensed/certified appraisers) 3. State law/regulations/policy & guidance (including STA s Realty or Appraisal Manual)
68 Re-cap: WHO determines that an appraiser is Qualified? YOU The STA is responsible for determining that all appraisers/review appraisers who perform assignments for your Agency are qualified and competent. Ultimately, the STA also has that responsibility for all appraisers who perform assignments for:... other State, county, municipal, or local public land acquisition organizations or with private consultants...
69 So... What direction can your Agency go in, to insure your appraisers are qualified & competent?
70 State ROW Manual (Example) (SDOT Provisions about Qualifications ) 1) Appraiser Pre-qualification Committee (Determines minimum requirements necessary to make acceptable appraisals) 2) Appraisal Questionnaire 3) Appraiser Exam (Comprehensive appraisal exam developed for use in the pre-qualification of fee appraisers) 4) Pre-qualifying Specialty Appraisers 5) Revocation of pre-qualification status
71 Some actions your Agency can take... Make sure you are actively doing succession planning among your staff Beat the bushes actively seek out new appraisers at professional appraiser meetings. Support your staff s professional development by allowing them to access quality appraisal training
72 Some actions your Agency can take... Develop and present your Agency s own Appraisal/Appraisal Review workshops Include a discussion of key appraisal requirements in 1 or more LPA.workshops Develop and present a short (1-2 day) conference on appraisal requirements in your program invite all the independent appraisers and get the material approved for re-certification by your State Board.
73 Bringing Appraisers together for customized technical training and interaction will yield great returns for your program
74 FHWA doesn t always come to your Agency and do a review of your Appraisal Program, (or you LPA Program oversight) but when we do...
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Acquisition IOWA 2015 CDBG MANAGEMENT GUIDE APPENDIX 2 PAGE: 79 WHEN A PUBLIC AGENCY ACQUIRES YOUR PROPERTY Introduction U.S. Department of Housing And Urban Development Office of Community Planning and
TO: FROM: RE: All Interested Parties Barry J. Shea, Chair Appraisal Standards Board First Exposure Draft of proposed new Advisory Opinions and Advisory Opinion Revisions in conjunction with the 2016-17
Table of Contents GENERAL COURSE INFORMATION Overview... v Course Schedule... viii SECTION ONE Introduction Introduction... 1 Part 1. Introduction to USPAP Part 1 Preview... 2 History of Appraisal Standards...
Forward The Appraisal Standards Board (ASB) of The Appraisal Foundation develops, publishes, interprets, and amends the Uniform Standards of Professional Appraisal Practice (USPAP) on behalf of appraisers
THE APPRAISAL STANDARDS BOARD & USPAP INFORMATION FOR APPRAISERS AND THEIR CLIENTS A PPRAISAL S TANDARDS B OARD A MESSAGE FROM THE ASB This brochure is intended to help appraisers and users of appraisal
AICPA Valuation Services VS Section Statements on Standards for Valuation Services VS Section 100 Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset Calculation Engagements
October 2009 T HE REAL PROPERTY APPRAISER Q UALIFICATION CRITERIA AND INTERPRETATIONS OF THE CRITERIA REAL PROPERTY APPRAISER QUALIFICATION CRITERIA EFFECTIVE JANUARY 1, 2008 APPENDIX APPRAISER QUALIFICATIONS
Unit 16 Real Estate Appraisal How to Maximize this Unit Have your book open to the Unit Have your recorder (iphone voice command recommended) ready to record, with proper title prepared. Read through the
The Uniform Act & Section 104(d) in Disaster Recovery Welcome & Speakers Session Objectives Identify Uniform Act Requirements Understand how CDBG-DR is different than CDBG Identify Common CDBG-DR URA/104d
ADVISORY OPINION The New Jersey Real Estate Appraisers Board (the Board ) is aware that uncertainty exists regarding the question whether state licensed real estate brokers (the term broker is herein used
A rkansas Ap p rai ser Licensing and Certification B o a rd Volume 23, Issue 3 Supervisor/Trainee Class has benefits and lessons learned By Lee Gordon As part of its January 2015 requirements, the Appraiser
THE REAL PROPERTY APPRAISER QUALIFICATION CRITERIA AND INTERPRETATIONS OF THE CRITERIA Effective WHAT IS THE AQB? The Appraiser Qualifications Board (AQB) is an independent board of The Appraisal Foundation
Collateral Valuation Matters Improving Client s Appraisal Experience with Farmer Mac April 18, 2017 Collateral Valuation Matters Workshop Objectives Aid lenders/clients in how to obtain acceptable appraisals
Uniform Act for CDBG-DR 2018 CDBG-DR Problem Solving Clinic Atlanta, GA December 12-14, 2018 Welcome & Speakers Session Objectives Explain URA rules and requirements and how URA is triggered Share commonly
2016-2017 EDITION 2016-2017 UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE Effective January 1, 2016 through December 31, 2017 PLUS Guidance from the Appraisal Standards Board + USPAP ADVISORY OPINIONS
National Association of Certified Valuators and Analysts NACVA January 21, 2013 Appraisal Standards Board The Appraisal Foundation 1155 15 th Street NW, Suite 1111 Washington, DC 20005 Re: Third Exposure
4.4 INTERNATIONAL VALUATION STANDARDS 3 REVISED 2007 1.0 Introduction 1.1 The critical importance of a Valuation Report, the final step in the valuation process, lies in communicating the value conclusion
APPRAISAL REVIEW REPORT REVIEW OF APPRAISALS BY BECCARIA & WEBER, INC. RE: BUENA VISTA MOBILE HOME PARK PALO AL TO, CALIFORNIA REVIEWED BY JAMES BRABANT, MAI PREPARED FOR Law Foundation of Silicon Valley,
Across-the-Fence Value and Hostage Occupancy Agreements EUCI Conference: Electric Transmission Projects San Diego, California September 19, 2016 John T. Schmick Shenehon Company 2 What is the goal of valuation
Guide Note 16 Arbitration 1 Introduction Real estate valuation professionals ( Valuer or Valuers ) are often retained to provide services in arbitration matters 2 either as arbitrators or expert witnesses
ACTION: Final DATE: 08/08/2016 8:03 AM 1301:11-3-04 Experience requirement. (A) Applicants seeking a state-licensed residential real estate appraiser license shall: (1) Certify under oath that he or she
Guide to Appraisal Reports What is an appraisal? An appraisal is an independent valuation of real property prepared by a qualified Appraiser and fully documented in a report. Based on a series of appraisal
Is Across-the-Fence Value Equal to Market Value? IRWA Educational Conference San Diego, California June 16, 2015 John T. Schmick Shenehon Company 2 What is the goal of valuation assignments? Market Value
UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE 2010-2011 EDITION 2 PLUS Guidance from the Appraisal Standards Board + USPAP ADVISORY OPINIONS + USPAP FREQUENTLY ASKED QUESTIONS (FAQ) Effective January
U.S. Department of Housing and Urban Development Community Planning and Development Special Attention of: Notice: CPD-94-17 All Secretary's Representatives Issued: July 5, 1994 All State/Area Coordinators
R162. Commerce, Real Estate. R162-2e. Appraisal Management Company Administrative Rules. R162-2e-101. Title. This chapter is known as the "Appraisal Management Company Administrative Rules." R162-2e-102.
TO: FROM: RE: All Interested Parties Rick Baumgardner, Chair Appraisal Practices Board Concept Paper Valuation Issues in Separating Tangible and Intangible Assets Date: September 9, 2013 Background Those