An appraiser took an assignment that I had turned down. She told me that the banker said that they will not allow them to call it "Special Purpose" property....which it is. The banker said the EXAMINERS told them that they would not accept a report for same.. a.- It must contain a sales approach b.- It must have comparables c.- It must have a market value definition that excludes "special purpose" d.- You cannot weight either cost or income approaches. So...how is a bank going to finance say, a church? a housing project for rehab inmates? a one-of-a-kind farm operation? Do you pull comps from 100 miles away? Do you pull comps from 6 or 8 years ago? Does it really make sense to do either for many properties??? It sounds to me like the examiners are overstepping but they still rule the roost. And further, the lenders are like deer in the headlights on this. They simply cannot buck the examiners without endangering the very existence of the bank.