Conflict?

[chicago guy]

I just received a review for a property I inspected a coule of years ago. Property was remodeled at time of my original report. After looking at current report, appraiser reports that customer states updates were made in previous 7 months. Based on interior photos, it looks like the same updates as a couple of years ago. Haven't checked value or analyzed any data yet. Do I need to disclsose previous appraisal and address possibility that age of improvements may be older than reported. My first instinct is to continue review and if no issues arise with report, take improvements for what they are regardless of whether they we completed 7 months or 2 years ago. Thanks in advance for your assistance.​

 

[Restrain]

Take the appraisal as it exists. While it may "look" like the same home, unless you can prove that the updates were already there, you're pretty much stuck with accepting the appraisal. Now, if you took interiors and they're essentially identical, then you would have proof.

In any event, if the value was still supportable based on the condition as reported, regardless of when the updates were made, then the value's supportable, and go on.

 

[Mztk1]

The trouble is the owner may have provided false information to the appraiser; or the owner might have said we just finished updating the house 7 months ago because the last of the upgrades was completed then.

I wouldn't make a big deal out of it. Maybe say that the upgrades finished 7 months were known to have started 2 years ago with many of them complete at that time and that the extraordinary assumption is made that other upgrades were made and the condition of the house is as reported.

 

[PropertyEconomics]

I would review the appraisal as though you had never seen the property and see where the appraisers conclusions lead you. If you have issues with value then I would say so. If you dont then I would say so.
Many times appraisers are provided information that may be false, however, without prior knowledge there is no way to confirm the information which is provided and we must take it at face value.
I would assume this is more a homeowner problem than an appraiser problem.

Merely complete the review as you would any other and place what you know out of your mind.