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Appraiser Frequently Asked Questions

What is LASS-O?

LASS-O is a new kind of form report. It’s an Appraiser-driven, USPAP compliant, Lincoln Appraisal & Settlement Service’s Appraiser Valuation Opinion Report (AVO®). Developed with input from two nationally-certified USPAP instructors, LASS-O enables you to provide an opinion of value at a price-point competitive with a BPO.

LASS-O is an Appraisal Report performed in an efficient and timely manner at a competitive price-point. Our clients will enjoy reduced risk and increased reliability because the value opinion they’re getting is from an appraiser.

LASS-O’s Scope of Work, Certifications and Limited Conditions are USPAP compliant and they enable you to provide the opinion of value your clients need to make decisions on HELOCs, portfolio valuations, loan acquisition due diligence and other non-GSE valuations.

Why LASS-O rather than a 2055 or a 1004?

LASS-O was created to meet the market’s need for an appraiser’s opinion of value at a competitive price point. Appraisers have been losing tens of thousands of orders a year to BPOs and AVMs. Clients need valuation reports. Appraisers can regain the dollars lost to BPO and AVM providers by giving their clients what they need and want.

Lincoln Appraisal & Settlement Services is a company comprised of proven real estate professionals who have years of appraisal experience and an established history of providing valuation products which consistently meet or exceed the client’s requirements. We recognize that opinions of value provided by appraisers are superior to BPOs and AVMs. We also know that not every appraisal report has to follow GSE guidelines.

The time to prepare a LASS-O report will be significantly less than the time spent preparing a conventional report. LASS-O’s web based software encourages streamlined reporting and allows you to easily present your appraisal report in accordance with USPAP.

How is LASS-O different?

LASS-O is web-based. It’s ordered online, assigned to you online and you complete it online. The form is easy to navigate and the software is similar to the appraisal software you already use. Our interactive website allows both you and the client to easily track the progress of your appraisal orders.

The client’s order will be instantly assigned to you; a local appraiser with the geographic competency to provide credible results. You perform an inspection of the subject property. You take photos of the front, the street view in both directions and photos of any external influences. The LASS-O software will automatically include an aerial view of the subject which supports and verifies what your on-site observations revealed.

The software makes data entry simple. Corrections or omissions are handled before you upload your report. The website employs computerized accuracy to check every report for compliance, accuracy and consistency making it quicker to complete and guaranteeing you spend less time on revisions or corrections. Additionally, you control the entire report and all data with a secure, electronic signature.

For more information, visit www.LASS-O.com. There you can view a LASS-O demonstration and sign-up to begin receiving LASS-O orders from our clients. For more information please contact: George K. Demopulos, MRICS, RA, SRA, AI-RRS, President/Chief Valuations Officer of Lincoln Appraisal and Settlement Services at info@lincolnappraisal.com.

Financial institutions have been asking for it.

We delivered.