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54 Page Residential Appraisal Report

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Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
I was just provided a copy of a residential appraisal report. I am doing an appraisal of the same property and the lender sent it to me. Report looks fine, but...................54 pages? My god! In addition to a cover page, a copy of the appraisers license, and a very nice report, there are also copies of the MLS pages for each sale used, each listing used, and in addition to a comprehensive 1004MC there is an Arial photo, and a complete regression analysis. Maybe it's just me but it seems like overkill. What the client wants to know is.....what is it worth. Did a fine job on that, but........................:shrug:
 

VegasWayne

Senior Member
Joined
Nov 15, 2007
Professional Status
Licensed Appraiser
State
Nevada
I recently saw an 88 page home inspection report for a 1,400 sq. ft. one story house. It looks like appraisers need to catch up.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
Many (not all) of mine are 40+/- pages. And that isn't a result of a Pavlovian response to AMC stips (since I don't work for AMCs... and rarely get stips from those I do).
While I have my resume (2-pages), I would not describe my reports as "full of fluff". I put in the reports the information I want to convey. On the other hand, I understand that others may not see the same need to convey the same information to the same level as I (I do not put in MLS pages unless there is something specific and relevant to the assignment which would warrant it; might happen 1 in 100 times).
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
My relo reports are 50+ pages.

Cover page and table contents allow it to become a professional report

I should add a contents page....good tip.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
I should add a contents page....good tip.

Yeah... I learned that from a judge earlier in my career. I was on the stand (next to where he sat) and he was flipping through the appraisal trying to find the page I was referencing. He turned to me and said, "You know, it would sure be helpful if you had a table of contents in this thing!" :oops:

:cool:
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Pavlovian response to pain and stips of old. Can't blame them overkill or not

As I said, it was a very good report, and I don't say that lightly. Of course he is a former student of mine.:)

Prior to licensing(1991) I was still doing some commercial appraisals. The last one I did was of a 96 unit apartment building. Did all 3 approaches to value, no software back then to assist. The content was less than 100 pages. It was done for the government entity (RTC) and they accepted it without comment. Guess we should start selling the report by the pound.
 

Peter LeQuire

Elite Member
Joined
Jan 3, 2005
Professional Status
Retired Appraiser
State
Tennessee
Yeah... I learned that from a judge earlier in my career. I was on the stand (next to where he sat) and he was flipping through the appraisal trying to find the page I was referencing. He turned to me and said, "You know, it would sure be helpful if you had a table of contents in this thing!" :oops:

:cool:

I can't find a TOC page that will go through the .ENV conversion, but for other work I include one. I also include a client letter which, among other things, names the page and section of that page where the value conclusion is recited.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
41 pages and pretty typical. 800 sf, 2 and 1 in the city.
 

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