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USPAP and the last time? What does that mean? When you listen to the podcast you’ll find out.
USPAP and the last time asks a series of questions. These ask you about the last time you considered an appraisal concept or idea. This is important simply because appraisals have too many moving parts. It is way too easy to get caught in the details and the mechanics of an appraisal and appraisal report. When we get caught that way, we lose sight of what an appraisal really is. An appraisal is really nothing more than a simple answer to a client’s appraisal question, “What’s my property worth?”. But it is common to lose sight of this simplicity when we have to worry about USPAP’s requirements, the GSE’s differing appraisal and reporting requirements, and what a state investigator may think. That’s a lot to worry about.
So, in this podcast, USPAP and the last time, we take a look at some questions we might never otherwise consider. For example, “When was the last time you took a CE class for the sheer joy of learning, not just for getting CE credit?”. Or, “What does including a sale on the adjustment grid say about that property’s highest and best use?”. In our rush to meet deadlines, it is too easy to forget what an appraisal is. It is too easy to forget what an appraisal is supposed to communicate, too. That is the purpose of this podcast: to help you focus on the appraisal and what it communicates. Again, it is too easy to get lost in the details.
So, when was the last time you took a look at your boilerplate to determine if it was outdated or, even worse, wrong?