This course was written and produced by The Appraisal Foundation, and is being presented through a partnership with McKissock Education.
Many appraisers make workfile errors that result in disciplinary action being taken against them. Sometimes these errors are in addition to other errors that are made during the development or reporting of an appraisal and they may serve as an aggravating factor. This course will examine the issue of workfile production and retention and will address some of the most common workfile-related deficiencies that are encountered in appraisals.
There are four chapters in this course. In Chapter 1, we will provide an overview of the RECORD KEEPING RULE of USPAP. In Chapter 2, we will address issues of paper versus electronic workfiles and basic workfile security. In Chapter 3, we will discuss some best practices to prepare for catastrophic events, as well as looking at some tech tools that will help document the workfile. Finally, in Chapter 4, we will address several miscellaneous workfile issues, including unacceptable assignment conditions, draft reports, appraisals for federally regulated financial institutions, and an appraiser’s obligation to his or her state appraisal regulatory agency.