Appraising in the New Millennium
Due Diligence & Scope of Work
By David Braun, MAI, SRA
http://www.automatedvaluationtools.com/
Appraising in the New Millennium has been created by Automated Valuation Technologies, Inc. (AVT). The purpose of AVT is to fill the voids in appraisal practice that result from the rapidly changing appraisal environment.
David has been a pioneer in developing and reporting the scope of work. He developed and taught the first scope of work seminar, and was the first to use a computer program to aid in the development and reporting of the scope of work. The program USL Documenter II is available in conjunction with this book.
In an effort to share the knowledge he gained, he wrote the First and Second Editions of this book, which were published on the Internet and made available free of charge.
The Third Edition of Appraising in the New Millennium is sold only in hard copy format - $39.99. [Click Here]
The companion USL Appraisal Report Documenting Software will be available soon on disk for $99.00 from ScoopGear.com soon.
A Summary:
- Chapter 1 introduces the changing business environment with special emphasis on the recent emergence of risk-base portfolio management models that allow variations in the amount of due diligence based on perceived loan risk
- Chapter 2 addresses Professional Appraisal Standards and succinctly directs the reader’s attention to understanding the relevant USPAP sections on Scope of Work.
- Chapter 3 covers lawsuit prevention and liability management
- Chapter 4 covers Supplemental Standards, Contracts & Agreements and Client Input.
- Chapter 5 offers check lists and information relevant to diagnosing the problem and determining a solution. The author uses a case study method in this chapter citing 6 well thought out instructive examples.
- Chapter 6 covers the due diligence necessary to the intended user as one of forces influencing the Scope of Work Decision. In this chapter, the author makes the case that the appraiser must fully appreciate the intended users risk tolerance.
- Chapter 7 is the meat of the document and covers Scope of Work and the implications of varying the Scope of Work summarizing at the end of the chapter the costing out the appraisal components.
- Chapter 8 introduces the logical framework in which a Scope of Work Decision is made.
- Chapter 9 moves on the reporting requirements and communicating the Scope of Work decision. Again the case method is used to illustrate by example with 4 residential case studies and 2 commercial case studies.
- Chapter 10 contains a discussion of the impact of the Scope of Work Rule on the lending community.
The author of Appraising in the Millennium and the USL Software is David Braun. MAI, SRA. Braun has been involved in real estate appraising since 1976.
He is president of Braun & Associates located in Maryville, Tennessee, an appraisal firm with 13 employees. The firm serves the Greater Knoxville area. He has a Bachelor of Science degree from the University of Tennessee.
David is an approved Appraisal Institute Instructor and certified by the Appraisal Foundation to teach the Uniform Standards of Professional Appraisal Practice.
David Braun is also president and founder of Automated Valuation Technologies, Inc. a producer of appraisal seminars and software.
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