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How Not To Write A Narrative Statement

Discussion in 'General Appraisal Discussion' started by Restrain, Nov 24, 2003.

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  1. Restrain

    Restrain Elite Member

    20
    Jan 22, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    Did a review of a property recently. The data was generally accurate but the method of writing was questionable at best. Here's an example and remember that this is a third-party independent appraisal. BTW, this is an experienced appraiser.

    "Our property is located on Smith Road. You go down Jones Road to where Smith intersects, then turn right but don't speed up because our property is on the left." "Our home is ..." "I realize that Fannie Mae doesn't like these large adjustments but I can't do anything else because this is a rural town and there aren't hundreds of sales like in cities." Yikes!

    After reading the report, it seemed that the appraiser actually owned the home. The entire report was written in first-person with many questionable statements that showed a lack of analysis and report-writing skills.

    Hopefully, he will get a sanction to attend a report-writing class. He really needs to learn how to write a report in a manner that conveys the information in a dis-interested third-party manner.

    Roger
     
  2. Jeff Horton

    Jeff Horton Senior Member

    0
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Alabama
    :rofl: OK, that sounds like he just types like he speaks. I would feel right at home talking to this person. :mrgreen:
     
  3. CANative

    CANative Elite Member

    205
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Who's Fannie Mae?
     
  4. Ken in Arkansas

    Ken in Arkansas Junior Member

    0
    Jan 20, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Isn't she Ginnie Mae's first cousin?
     
  5. Francois K. Gregoire

    Francois K. Gregoire Senior Member

    0
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Roger,

    To be honest, the writing style you quote seems to be refreshingly honest and a welcome relief from the contrived boilerplate inserted in many appraisal reports. Clearly, it was crafted specifically for the subject property and may help the reader or intended user visualize the area.

    My favorite phrase was penned by one of the original appointees to the Florida Real Estate Appraisal Board. In his description of the rural location of the subject, he wrote "This is not to say the subject property is in the middle of nowhere, but you can see it from the front porch."

    Living and working in the most densely populated county in Florida, it sure would be nice to use that phrase, just once.
     
  6. Mountain Man

    Mountain Man Elite Member

    27
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Georgia
    :lol:
    I've always wanted to say something like that.... just didn't have the guts. :unsure:
    Maybe I will on the next one from a fly by nighter, when a big city UW wants comps within 1 mile. :ph34r:
     
  7. Karl

    Karl Elite Member

    0
    Jan 15, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Arizona
    The subject is located on 2.5 Acres, 7.5 miles from the nearest neighbor, surrounded by 10,000 Acres of Cotton fields. Comparables exceed the 1 mile rule guidelines followed by most lenders. This is common of RURAL areas such as this & is not considered adverse. First they wanted to know if there was anyway I could change this from RURAL. THEN!!! The UNDERWRITER INSISTED that I have at least ONE Comparable within 5 miles. This could be WHY Appraisers are writing it the way it is, NOT the way SOME like to see it.
     
  8. Scott Kibler

    Scott Kibler Elite Member

    54
    Oct 7, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    I've always wanted to throw in some off the wall comment just to see if anyone actually reads my report. As 99.9% of the answers to underwriter questions are contained in the body of the report, i doubt it.
     
  9. sam strahan

    sam strahan Junior Member

    0
    Jan 17, 2003
    Professional Status:
    Licensed Appraiser
    State:
    Texas
    FannieMae.....you know, the Beverly Hillbillies!
     
  10. Ed Woodruff SRA

    Ed Woodruff SRA Junior Member

    0
    Mar 12, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    This may be a little off the subject, but years ago (during the early to mid 1980's) a loan officer called me and asked if he could go back over to that house with me so we could see some of those "loose broads" on the front porch. I didn't know what he was talking about until I read in my report where I was describing some loose boards on the front porch - of course, I mis-spelled the word "boards". This was done on a typewriter - before we had computers (come to think of it, a spellchecker may not have cought that anyway).

    Anyway, have a good Thanksgiving - and don't be out inspecting houses and working up reports tomorrow.
     
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