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Podcast: Tim Andersen, The Appraiser's Advocate Podcast
Episode: USPAP and What's Omitted? That Should Not be Very Much!
Description: USPAP and What’s Omitted? What does that mean? Really, we mean what’s omitted from your appraisal and report. It is true, you should omit very little from the appraisal, as well as from the report. Why? A sale is not a comparable sale unless it has the same highest and best use as the subject. So, appraisers cannot omit those analyses. How about neighborhood analysis? Fannie Mae wants answers to thirty-six questions about the neighborhood. There is nothing about the neighborhood the appraiser can omit from the appraisal or the report. USPAP’s SR1-6 calls for a complete reco...