Restricted report

[Deleted member 142783]

Hello,

If an appraisal is being completed for a divorce where the property value is in dispute, would you provide a restricted report or appraisal report?

I would think you would want more detail, although the reports I have reviewed for an attorney are all "restricted". Any thoughts or feedback would be appreciated

 

[glenn walker]

Hello,

If an appraisal is being completed for a divorce where the property value is in dispute, would you provide a restricted report or appraisal report?

I would think you would want more detail, although the reports I have reviewed for an attorney are all "restricted". Any thoughts or feedback would be appreciated

Yes and I would name both the Client and any other Users-IE their Attorney.

 

[TerryRohrer]

In my view, restricted reports should be restricted to users who regularly rely on appraisal reports and understand the process and terminology and, to some degree, the subject property and the market within which it competes. I would not put the typical divorcees (or most attorneys) in that camp.

 

[Elliott]

When I get a request for a dissolution appraisal, I recite in an email the conversation I had with the attorney or spouse, and indicate the purpose of the appraisal and the function of the appraisal, the hourly rate for travel and testimony if necessary, and disclaim its use for other purposes, such as financing, along with the amount and where to send the full retainer. Similar language is included in the delivered report.

 

[ZZGAMAZZ]

Seems to me that a marital dissolution assignment would be the LEAST application of a Restricted report because various entities other than the client, per se, persumably will require access to the report. OTOH I completed two recent assignments for dudes involved in divorce proceedings who didn't trust their own lawyers, consequentlly requesting my opinion of value; and although I relied upon Appraisal Report formats, I emphasized repeatedly throughout the report that the results were "restricted" to my client, without being applicable for lending OR legal matters. Oddly enough, of my behalf, I never even bothered to follow-up with my clients to determine how they used my reports. {AF concensus was that the Restricted format rarely is appropriate/necessary...]

 

[ZZGAMAZZ]

When I get a request for a dissolution appraisal, I recite in an email the conversation I had with the attorney or spouse, and indicate the purpose of the appraisal and the function of the appraisal, the hourly rate for travel and testimony if necessary, and disclaim its use for other purposes, such as financing, along with the amount and where to send the full retainer. Similar language is included in the delivered report.

Should the attorney's Letter of Engagement ever be included as an addendum to an appraisal report for marital dissolution?

 

[Terrel L. Shields]

would you provide a restricted report or appraisal report?

ask your client and no, do not put down the opposing attorney as "intended user" nor the court.

Your client can tell you... and don't let the plaintiff or defendant be your "client" - only their attorney.

 

[DWiley]

Hello,

If an appraisal is being completed for a divorce where the property value is in dispute, would you provide a restricted report or appraisal report?

I would think you would want more detail, although the reports I have reviewed for an attorney are all "restricted". Any thoughts or feedback would be appreciated

Input from experienced appraisers here is OK, but an answer to your question can only come from you having a discussion with your client. Ask them what they want. Do they only want the final number, or do they want a report that shows both the results and how you came up with the results?

 

[ZZGAMAZZ]

Input from experienced appraisers here is OK, but an answer to your question can only come from you having a discussion with your client. Ask them what they want. Do they only want the final number, or do they want a report that shows both the results and how you came up with the results?

In your experience, are lawyers who specialize in maritial dissolution, etc., which often requires real property appraisals, sufficiently familiar with the nuances of the appraisal appointment?

 

[Tom4value]

Hello,

If an appraisal is being completed for a divorce where the property value is in dispute, would you provide a restricted report or appraisal report?

I would think you would want more detail, although the reports I have reviewed for an attorney are all "restricted". Any thoughts or feedback would be appreciated

Not quite sure what your scope of work is. Are you being asked to review an existing appraisal? If so, you can provide a restricted report for your client’s eyes only.

If you are being asked to perform an appraisal of the property, then NO to restricted report. Again, according to USPAP, you may provide a restricted report only if the client and intended users have sufficient knowledge to understand your conclusions; something that cannot be assumed for a user that knows nothing about appraising and/or the subject property.