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  #1  
Old 06-23-2011, 11:42 AM
Michigan CG's Avatar
Michigan CG Michigan CG is offline
 
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Default Why do residential appraisers?

Why do residential appraisers always write reports in third person. Example (from another thread): The appraiser viewed the area stated to be where the septic system and leach field was contained and noted no signs of malfunction. The appraiser is not an expert in on site waste water systems and if further assurance of this private utility is required, it is strongly recommended that an expert's opinion be sought.

My reports are written in the first person. I viewed the area.....I am not an expert.....I inspected the attic.....I researched sales...
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Old 06-23-2011, 11:48 AM
Vermonter Vermonter is offline
 
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Quote:
Originally Posted by Michigan CG View Post
Why do residential appraisers always write reports in third person. Example (from another thread): The appraiser viewed the area stated to be where the septic system and leach field was contained and noted no signs of malfunction. The appraiser is not an expert in on site waste water systems and if further assurance of this private utility is required, it is strongly recommended that an expert's opinion be sought.

My reports are written in the first person. I viewed the area.....I am not an expert.....I inspected the attic.....I researched sales...
Don't know exactly....but that was the way I was taught.

I'll be interested to hear some answers, cuz I don't have a good reason.
  #3  
Old 06-23-2011, 11:52 AM
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CANative CANative is offline
 
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I've gone back and forth on that over the years.

One sounds more detached and objective (relying on the title "appraiser") but a bit pretentious and the other sounds more personal and cozy but kind of takes the "appraiser" part out of the dynamic.

I guess it's a matter of who I'm writing the report for. Most residential appraisers are writing to nameless entities while many commercial appraisers are speaking to a real person.
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  #4  
Old 06-23-2011, 12:16 PM
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Captain Common Sense Captain Common Sense is offline
 
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Mike doesn't like to talk about Mike in the third person but, that's the way Mike was taught so that is the way Mike does it.

Mike has always wondered the same thing though.....why? Mike likes Can's answer.

Mike may have had too much cofee this morning.
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  #5  
Old 06-23-2011, 12:22 PM
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Tim Hicks (Texas) Tim Hicks (Texas) is offline
 
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I don't think any kind of lending documents should be written in first person. This is not a high school book report. It is a document that will be passed between untold business entities and should not be personalized with first person writing skills. Legal documents are not written in first persion. Engagement letters are not written in first person. Appraiser agreements are not written in first person. Etc,etc.
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  #6  
Old 06-23-2011, 12:25 PM
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Most of our reports are written in third person; makes it easier to overwrite a new report when you have a CG do the appraisal and the reviewer MAI is also signing.
  #7  
Old 06-23-2011, 12:31 PM
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The appraiser does not like to use the word "I' in his appraisal reports. Sounds like the Id or ego complex to the appraiser.
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  #8  
Old 06-23-2011, 12:33 PM
leelansford leelansford is offline
 
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Quote:
Originally Posted by Michigan CG View Post
Why do residential appraisers always write reports in third person.

...[/i]


This appraiser has been wondering about the same thing.
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  #9  
Old 06-23-2011, 12:39 PM
Lost Cause Lost Cause is offline
 
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Some take this third person thing to grotesque extremes. I simply cannot stand to read reports where the report writer refers to him/herself as "Your Appraiser".
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  #10  
Old 06-23-2011, 12:47 PM
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Below are excerpts from an assignment Scope of Work section for vacant residential land.
Quote:
I have researched recent land sales in Monroe County for this assignment. In my files I have over forty recent rural residential land sales of which seven are included in this report; most of these properties have been purchased for future residential development. These sales are all took place in 2010 with the exception of sale #17 which is in Exeter Township and sold in December of 2009. These sales appear to be indicative of the current rural residential vacant land market although they are not consistent overall.

More sales could be included, but it is my opinion that additional sales would not indicate a different value and additional sales would be from farther distances which may have different advantages and disadvantages including location, land amenities and proximity to employment centers.

In this report I have interviewed the property owner who was at the property at the time of my inspection. Assessment records were obtained for all of the comparable properties. All properties have been viewed from the street and MLS listings (when applicable) were reviewed.

I have included this market evidence considering that the current interim Highest and Best Use of the subject property is for vacant land use until the housing market improves.
Below it is changed to the third person:

The appraiser has researched recent land sales in Monroe County for this assignment. In [COLOR="Red"[/color] the appraiser files there are over forty recent rural residential land sales of which seven are included in this report; most of these properties have been purchased for future residential development. These sales are all took place in 2010 with the exception of sale #17 which is in Exeter Township and sold in December of 2009. These sales appear to be indicative of the current rural residential vacant land market although they are not consistent overall.

More sales could be included, but it is the appraiser's opinion that additional sales would not indicate a different value and additional sales would be from farther distances which may have different advantages and disadvantages including location, land amenities and proximity to employment centers.

In this report the appraiser has interviewed the property owner who was at the property at the time of my inspection. Assessment records were obtained for all of the comparable properties. All properties have been viewed from the street and MLS listings (when applicable) were reviewed.

The appraiser has included this market evidence considering that the current interim Highest and Best Use of the subject property is for vacant land use until the housing market improves.
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