- Check in at 8:15 am
- Class from 8:30 am-4:00 pm
- 30 min lunch from 12-12:30
- Instructed and developed by Mark V. Smeltzer, Sr., MAI, SRA, AI-GRS, AI-RRS
Course Description
Building a Workfile is a 7-hour program that is designed to provide attendees with an understanding of how to document and maintain their workfiles in support of appraisal and appraisal review assignments. The program will cover the Record Keeping Rule of USPAP as well as pertinent Advisory Opinions and Frequently Asked Questions, AOs and FAQs, along with Standards 1, 2, 3 and 4 of USPAP.
- An overview of The Record Keeping Rule and applicable definitions including Workfile and Report.
- Identifying the client and other intended users; How to properly identify the Client and Other Intended Users in an Appraisal Report and in a Restricted Appraisal Report. This will include the definitions of Appraisal Report and Restricted Appraisal Report, Client, and Intended Users. This will also cover Advisor opinion, AO, 36;
- True copy of all reports: What constitutes a true copy of all reports? This section will include the difference between a draft and a report; retention of hard copies or electronic copies of reports; retention requirements for report revisions and; need for a signed certification in each written report. FAQ 84, 93, 94, & 100 (329)
- Record keeping for oral reports/testimony/transcripts: What constitutes an oral report? This section will include the need for the existence of a documented workfile prior to issuing any assignment results; what constitutes an Oral Appraisal Report. FAQ 95, 96, 97, 98, & 99
- All other data, information, and documentation necessary to support the appraiser’s opinions and conclusions and to show compliance with USPAP: FAQ 82 & 101
- Introduction to the checklist for Real Property Appraisal Development, Standard 1; and Real Property Appraisal Reporting, Standard 2.
- Documenting Standard 1 and Standard 2 compliance
- Introduction to the checklist for Real Property Appraisal Review Development, Standard 3; and Real Property Appraisal Review Reporting, Standard 4.
- Documenting Standard 3 and Standard 4 compliance
- Workfile requirements with appraisal company or more than one appraiser FAQ 87, 88, & 90 Failure of following the Record Keeping Rule violation of Ethics Rule
- When Must Access to a Workfile be Granted: FAQ 91 & 92
- Trainees Access Workfiles FAQ 89
- Workfile Retention Requirements FAQ 103, 105, 107, 108, & 109
- Disposal of Workfiles FAQ 83 & 86
Objectives
Upon completion of the program attendees will know how to document adherence to the requirements of the applicable USPAP Standards including completing checklists for both development and reporting standards, which they will be able to include in their workfiles, along with the proper retention, and disposal of workfiles.
Mark V. Smeltzer, Sr., MAI, SRA, AI-GRS, AI-RRS
Mark V. Smeltzer, Sr., MAI, SRA, AI-GRS, AI-RRS
Mr. Smeltzer is a highly rated instructor with over 40 years of teaching experience, including a wide range of general and residential topics. He is also an AQB Certified USPAP Instructor.
This program is presented virtually via Zoom. Students must have computer, webcam & microphone capability to participate & receive CE credit. The platform will be interactive and live. The instructor must be able to physically see and interact with all students and students must be able see and interact with the instructor. A copy of your driver’s license must be emailed to the Chapter office as verification after you have registered for the 3/25 seminar. You will receive a separate email from the Chapter Office with log-in info. You do not need a paid account from ZOOM to participate. Check your webcam privacy settings on your computer.
Any & all cancellations are subject to an admin fee. No credit/refunds for cancellations made on or after 7 days prior to class. No credit/refunds for no-shows.
Contact LisaMay.Weiss@appraisalinstitute.org with questions.
Click here to download a printable PDF of this course.
