Straight from USPAP value, price, opinons

[Zoe]

There is a huge difference in price and market value as defined in 1004. Please give me a break.

If your a licensed appraiser, everything changes. Your whole world changes if you are giving market value opinion vs asking price or whatever.

 

[J Grant]

It is about concepts...it appears distraction by words related to this concept theory is the crux of the issues overall.
Semantics = the study of meaning in language. It can be applied to entire sentence or single words. For example, "destination" or "last stop"...

I semi agree...we are moving forward in that you recognize it is about concepts ! ( value vs price ). I urge you to read the first post in this thread.

Casual mis use of words or replacing one word for another wrt semantics applies to ordinary language, but in USPAP, the definitions ( and logic behind them ) have specific legal and professional standards for appraisal practice.

 

[George Hatch]

Who is doing what? That's the only thing that matters when performing an appraisal. We observe, we report, and we leave the decision making to the decision makers. It's not our job to restrain the market in whichever direction it is currently trending. We don't promote, we don't protect, we don't punish. Any appraiser who thinks otherwise is in the wrong line of work.

 

[Zoe]

If I give you an opinion of asking price and define that, that is fine. I can disclose all of that. This is not an appraisal of market value. I never develop opinion of market value as defined in 1004.

I never do appraisal. I say ask $1,000,000.

If you ask me what is my house worth on MV? I say call me tomorrow and we will discuss our options.

I get a retainer fee sometimes at that stage. Serious engagement letter.

 

[Carnivore]

The Professional Opinion shall set out the valuation approach and methodologies adopted by the Valuer, together with the principal judgments made in selecting a particular approach or methodology, a comparison of valuation calculations and conclusions arrived at through the different methods considered and the relative importance of each methodology in arriving at the overall valuation conclusion.

 

[J Grant]

Who is doing what? That's the only thing that matters when performing an appraisal. We observe, we report, and we leave the decision making to the decision makers. It's not our job to restrain the market in whichever direction it is currently trending. We don't promote, we don't protect, we don't punish. Any appraiser who thinks otherwise is in the wrong line of work.

The references to promote, or punish or restrain the market how is it relevant to the thread... or meant for me personally?...we don't just report , we analyze - since you bought it up, an appraiser who e shapes an appraisal around the idea they provide an (actual) price opinion is influencing a market vs those who provide a value opinion and let the clients/users decide.

I agree with who is doing what - Then, as you said, the decision making is up to the decision makers. If a client decides to affix an actual price or actual price expectation to an opinion of market value, then that is an "off label" use ( according to the intended use statement printed ) and on the client -

 

[Zephyr999]

I semi agree...we are moving forward in that you recognize it is about concepts ! ( value vs price ). I urge you to read the first post in this thread.

Casual mis use of words or replacing one word for another wrt semantics applies to ordinary language, but in USPAP, the definitions ( and logic behind them ) have specific legal and professional standards for appraisal practice.

Take a minute, step back and reread that last part...semantics is NOT specific to everyday language solely. Geez

 

[Zoe]

I will get my money from you wonce you sign engagement letter.

 

[George Hatch]

Say what we do and do what we say. It's just not that complicated.

 

[J Grant]

Say what we do and do what we say. It's just not that complicated.

Thanks good comment !

But it is that complicated , when certain appraisers, even after all their education and staring right in the face of the USPAP definitions, declare that we give opinions of price, or a value opinion is an opinion of price .Which means they are not doing what they say. The say (sign) off on a market value opinion, but developed- according to them- a price opinion.