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Comments you cant do without

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MARKETVALUE

Sophomore Member
Joined
Feb 11, 2002
Professional Status
Certified Residential Appraiser
State
Georgia
Hey Gang-

I am revamping our templates over the weekend. Am looking for some of the best of the best canned comments.

No hidden agenda here. I am telling you flat out I am looking to plagerize EXCELLENT comments.

What is at the beginning of EVERY addenda you put out?

Thanks in advance!

MRM
 

graindart

Junior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Montana
One of my favorite canned comments:

"Recent comparable closed sales with like amenities in close proximity to the subject are very limited. The comparables chosen are considered to be some of the best available and most indicative of value for that of the subject."

Translation:

I'm not holding back the best comp, located right next door.....just waiting until you ask me for another, better comp. What you see is what you get.
 

liznindy

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Indiana
"A thorough search has been performed and the comparables utilized are considered by the appraiser to be the best currently available for analysis. More recent sales which would be more similar or proximate were not found."

Say it over and over and over.... :lol:
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
I blithely email my templates to any one that requests them--with a very selfish reason of wanting feedback so I can improve my reports! I have gotten some excellent ideas through the years from many sources. And all the comments and ideas I have gotten, I have put into my templates. Which then when writing a report gets parts deleted, rearranged, restated, added to, changed, amened, etc, etc, etc. But having all these comments reminds me to write about that specific problem. So if somebody wants to see my loooong comments :D , let me know.
 

George W Dodd

Senior Member
Joined
Jul 9, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
How about this one:

Opinions or estimates expressed herein represent our best judgment but should not be construed as advice or recommendation to act. Any actions taken by you, the client, or any others should be based upon your own judgment, and the decision process should consider many factors other than just the value estimated and information given in this report. The appraiser should be contacted with any questions before this report is relied upon for decision making. This appraisal represents an estimate of value based on an analysis of information known to us at the time the appraisal was completed. We do not assume any responsibility for incorrect analysis because of incorrect or incomplete information, which was provided to the appraiser. If new data or documentation is provided to the appraiser, the value in this report is subject to change based on the significance of this new data.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Many of my canned comments include blanks for time, proximity and rationales that conclusively nail down why I didn't hide the best comp in my shoe.

I am attempting to better address the scope issue for the differing types of properties/assignments. Best I can figure is that it' s going to take a while before I am happy on that front.

I am also developing better neighborhood blurbs.

More an more assigments are coming form the 'squirrely' areas and explanation is needed.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Rural Comments

The appraisal "inspection" is a value inspection and is no substitute
for an engineering inspection. While the appraiser neither sees nor has been told of any obvious defect not otherwise reported, the appraisers are not experts in identification of such items and the appraiser recommends the property have an inspection by a certified home or property inspector and a structural engineer. The appraiser assumes all structural, system, or HVAC systems are in good working order if no such report is provided. The appraiser reserves the right to alter or withdraw this report upon the client providing a home inspection or structural inspection which indicates any defect.

A statutory road easement, to the county, may exist of one rod either side of all section lines and may apply to the subject. However, this is the typical condition in the market and has no negative effect upon value. Many properties in the county do not have street addresses and many rural property owners do not receive mail at the address. Un-named streets are common. "Address" data presented is, in the
Appraiser's judgment, that most useful to a person seeking to visit the locations.
 
B

Bemis Pownall

Guest
I have arrived at this value estimate due to extreme lender pressure.

Appraiser realizes that all sales are form other superior neighborhoods home owner supplied the comparable data and told appraiser "our castle is like none other". Assignment was COD and my family was hungry.

Appraiser has noted that subject is on one of the busiest streets in the metro area but homeowner has assureed us that this doesnt bother them and they are "not selling" their home. No adjustments were deemed appropriate.

Appraiser has noted the torn vinyl and holes in walls; homeowner has assured appraiser that the refie is to fix said items.

The value estimate in report exceeds all guidelines and basic appraisal procedures and the lender ordering report has assured us that this report will not be reviewed, is out of state lender and value is only for their equity line of credit, therefore in the shadows of ENRON we feel adjustments, comp selection and value are witihin some strange accounting principle and our newly registered appraiser will stand behind their value. By the way our new registered appraiser is an ex accountant and prior to that had his own web hosting service.

While communicating with the lender ordering the appraisal we were instructed to make this value or we would have no other work come our way.

Lender has assured us that no one looks at these appraisals anyway.

Due to the fact that the subject was appraised last week at $xyz we concluded with this value eventhough that appriaser has recently lost his license.

Because the subject's recent sale was not in MLS we have not considered it in our value conclusion.

Although the sale which occurred only 2 months ago after subject was on the market for 400 days was a "give away" sale and home owner has told us many times what a good deal they recieved therefore our value estimate is more than support at 30% over the recent sales price.

Hope these Help

I use these canned comments everyday,,,



:icecream:
 

Frederick R. Ruffell

Senior Member
Joined
Jan 21, 2002
Professional Status
Certified General Appraiser
State
California
Step one in the appraisal process after you have identified the property to be appraised is, in my opinion, as follows....

HIGHEST AND BEST USE
"Highest and Best Use is that reasonable and probable use which will support the highest present value as defined, as of the effective date of the appraisal. Alternatively, it is that use, from among reasonable, probable and legal alternative uses, found to be physically possible, appropriately supported, financially feasible, and which results in highest land value. Simply stated, the highest and best use of a site is the perfect improvement that can be constructed on the site, which will produce the maximum rate of return on the capital invested.

For purposes of this appraisal, we are considering the current use as the highest and best for the reasons listed below.

The highest and best use conforms to site zoning. Current occupancy in the immediate area is rated as normal for this area. There is no known proposal for an alternate use of the site that is demonstrated to be economically feasible and in demand that may generate a higher return for the land within the assumptions of this appraisal."


I did not write this but have adopted int my addendum. It was given to me by Lee Hess an appraiser and instructor. Oh yeah, USPAP requires that you address your H&BU in your reports.
 

Ben Vukicevich SRA

Senior Member
Joined
Feb 9, 2002
Professional Status
Certified General Appraiser
State
New Jersey
Yo Ter,,

You're really dating yourself :lol: :lol:

may exist of one rod

Wow!! Rods, chains and links......you're an old bugger... 8O 8O

90% of the forumites probably thought you were talking about a fishing rod :lol: :lol: and it went right over their heads..

Thanks for the flashback....

Ben
 
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