A Day in the Life of Appraising Iowa-Nebraska-Florida

Happy New Year! - New Year Brings New Rules 2020-2021 Uniform Standards of Professional Appraisal Practice
January 3rd, 2020 6:58 AM
Uniform Standards of Professional Appraisal Practice - USPAP

Did you know the appraisal process begins when you email or call about performing an appraisal?  I am going to ask you a lot of questions, not just your address.  The very first step is to figure out why you need an appraisal, and what are the circumstances.  I am not just being inquisitive.  

"Problem identification" is the first step in any appraisal assignment. Before determining the scope of work for the assignment, (the time which will be involved, the fee I will charge) I must identify the assignment elements as defined by USPAP:

Client and any other intended users
Intended use of appraiser’s opinions and conclusions
Type and definition of value
Effective date of appraiser’s opinions and conclusions
Subject of the assignment and its relevant characteristics
Assignment conditions

From a practical standpoint, I need to identify all of these assignment elements in order to understand the amount of time the assignment may take to complete.

Regardless if the property is in Omaha, Bellevue, Papillion, Council Bluffs, or any other surrounding communuity, we need to identify these specific elements as part of the first step in the process.  Often times clients are surprised I have so many questions, but it is truly necessary to proceed to the next step of the process. 

If you have questions, or would like to discuss the process, feel free to call.  I am easy to talk to.

Patty Smith