54 Page Residential Appraisal Report

[The Warrior Monk]

How much of your 4-6 page text addendum is boilerplate?

Very little. The only actual boilerplate is maybe the HBU summary. The scope of data collection could be considered BP, but it does get modified slightly for each report. The rest is property description (separate sections for land and improvements), comments on Sales Comparison Analysis, Reconciliation Section, and possibly and additional section with additional market data analysis (listings, pending sales, etc.).

 

[timd354]

URAR, MC, UAD definitions - 9 pages
Photos - subject and comps - 11 pages
Maps - 2 pages
sketch - 1 or 2 pages
License page (I have one) - 1 page

That's 25 pages without any text addendum or cover page. So the bare minimum a report can be is 25 pages.

Okay....the cover page is a complete waste and is unnecessary and I cannot believe that for most residential reports, that there is more than a few pages (4 or 5 at most) of useful and required information that needs to be included in a text addendum....thus, why would your report need to be more than 30 pages?

 

[Peter LeQuire]

If it is generic and same in all reports then I would consider it to be boilerplate. But if it is specific to the assignment then it is not boilerplate.

Oh! NO! Mr. Bill!!!!!!!

I've been found out - I actually have boilerplate in my GSE reports (those requiring the MC addendum). I actually have the gall to have a hot key pointing out that the MC addendum may reflect a seasonal change in sales and prices and not necessarily reflect a trend change in market conditions. (Why? you may ask? Because on more than a few occasions I was required to provide an amended report when the MC addendum showed that, among certain properties, there appeared to be less activity between - say - November and March.)

What calumny! What shame!

 

[Joe Flacco]

Okay....the cover page is a complete waste and is unnecessary and I cannot believe that for most residential reports, that there is more than a few pages (4 or 5 at most) of useful and required information that needs to be included in a text addendum....thus, why would your report need to be more than 30 pages?

The cover page is not a waste to me. It puts my logo and my company name on the very front page. Right where it belongs.

4 or 5 pages of useful and required info in the text addendum is about right.

 

[J Grant]

Some properties with larger acreage/outbuildings or large sf/mega size house, with tennis courts etc can eat up 3-6 pages of additional photos, add in a flood map if needed... it can bring a report easily up to 35 pages (+-). Over that, who knows... I rarely get over that unless a very complex property needing extra exhibits.

Most clients expect a cover page just standard format .

As a reviewer, I could not ding a property for "fluff"...but fluff to me means copying articles from websites or magazines about the history of the town , how great the attractions are etc... and/or multiple pages of generic charts and graphs that usually are so wide in range or time they are meaningless...such as county wide sales or nationwide sales...or sales history going back 10 years...really?

Too many pages of fluff can get distracting and hard to pick out what is relevant. But the flip side of that are reports so lean and bare bones / generic in content it could be any house in any town in any market with close to 100% canned comments.

 

[Peter LeQuire]

The cover page is not a waste to me. It puts my logo and my company name on the very front page. Right where it belongs.

4 or 5 pages of useful and required info in the text addendum is about right.

GSE people don't care about your logo as long as they have your E&O and your license.

 

[Joe Flacco]

Oh! NO! Mr. Bill!!!!!!!

I've been found out - I actually have boilerplate in my GSE reports (those requiring the MC addendum). I actually have the gall to have a hot key pointing out that the MC addendum may reflect a seasonal change in sales and prices and not necessarily reflect a trend change in market conditions. (Why? you may ask? Because on more than a few occasions I was required to provide an amended report when the MC addendum showed that, among certain properties, there appeared to be less activity between - say - November and March.)

What calumny! What shame!

Huh? I got couple pages of boilerplate in my report too. I don't know what you are getting all defensive about.

 

[Joe Flacco]

GSE people don't care about your logo as long as they have your E&O and your license.

Well the reports are getting distributed in my market. It's MY report. My name and logo goes on the first page.

 

[timd354]

GSE people don't care about your logo as long as they have your E&O and your license.

GSE people don't care about the E&O either. E&O insurance for appraisers is not a GSE requirement and when is the last time that you heard about the GSE's either suing an appraiser or making a claim against an appraiser's E&O policy? (if either of these things ever happen, it is not very often) The GSE's know that they are the appraiser's client and that there is no privity of contract between the GSE's and the appraiser....thus the GSE's know that pursuing a claim against the appraiser on their part would be a waste of time. If the GSE's determine that the appraisal is deficient, they simply make the lender repurchase the loan.

 

[residentialguy]

Typical non complex 1004 reports for me: 42 pages.

54 pages would be a very complex report.

of course, if he is adding MLS pages, uad definitions (which I think is stupid to add), that's adding at least 6 pages there.