Start Date: 6/13/2023 6:30 PM PDT
End Date: 6/13/2023 8:30 PM PDT
Venue Name: Zoom
Cost: Members $30
2 Hour CE Virtual Learning via Zoom
Class Instructor: Joshua Walitt, SRA, AI-RRS
We’ve all heard the advice “Don’t put all your eggs in one basket.” The same can be said for a professional appraisal practice: Don’t perform only one type of appraisal work for only one type of client. In many cases, appraisers – both residential and general commercial – provide merely one type of appraisal: appraisals for lending clients. However, appraisers can expand their appraisal practice by offering other types of appraisal services. By diversifying their practices, appraisers strengthen their technical skills, increase the quality of their written and oral reports, ensure a better understanding of appraisal work, and lessen their reliance on one sector or type of client. “Estate and IRS Appraisals: Expand Your Appraisal Practice” walks appraisers through the possibilities and requirements of estate and IRS appraisal work, including scenarios, development, and reporting. Students explore the components necessary for private appraisal work in general and apply those elements to this specific type of work. USPAP is examined as the minimum foundation for the development and reporting of the appraisals, and students learn supplemental requirements that are unique to estate and IRS work.
The following learning objectives and topics below correspond to those noted for each section within the course (and are noted in each section of the slide presentation):
-Recognize how various types of estates relate to appraisals.
-Identify elements of an estate appraisal assignment that may differ from other types of appraisals.
-Connect the engagement letter to the appraisal process and report.
-Identify, locate and employ forms and publications related to appraisals performed for IRS-related purposes.
-Apply IRS-related requirements to appraisal assignments.
-Identify the appraisal problem.
-Assess how to ensure minimum USPAP developing requirements are met including the scope of work and assignment elements that lead to the scope of work.
Note: a recording of this class will not be offered
Joshua Walitt is the principal consultant for Walitt Solutions. He provides short- and long-term consulting services related to compliance, valuation, education, review and investigations. Clients include lending institutions, appraisers, appraisal management companies, attorneys, education providers and federal and state regulators. With over 20 years of experience, Walitt’s skillset includes appraisal, banking, regulations, policy, instruction, licensing and enforcement. His core goal is to foster a clients’ efficiency, accuracy, compliance and growth through appropriate methodology and technology, sound reasoning, communication skills and proper oversight. He writes for industry publications and speaks at events such as the Appraisal Institute’s Annual Conference, Appraisal Summit and Expo, Valuation Expo, Appraiser’s Conference and Trade Show, Association of Appraiser Regulatory Officials, and other client and industry conferences. Walitt designs seminars and continuing education courses for online and classroom delivery. In 2013, he was the appraiser member of Colorado’s AMC Rulemaking Taskforce. In 2015, Walitt designed the Market Machine, a market analysis and modeling tool used by appraisers throughout the United States. He has also provided valuation consulting for domestic and international applications. Walitt has been recognized as an expert witness in local and federal court. He is the 2021 Vice President of the National Association of Appraisers. Josh is an AQB Certified USPAP Instructor, holds the SRA & AI-RRS designations with the Appraisal Institute, is a member of the National Association of Appraisers (MNAA), holds a Certified Distance Education Instructor (CDEI) certificate, served on the Colorado Board of Real Estate Appraisers and is an Appraisal Institute approved instructor.