Confused about CTC adjustment

[shrubberyvaluation]

If the report is "subject to" it should be the value with the hypothetical that the repairs are complete. I wouldn't put cost to cure in the grid either way. Most likely the appraised value should exceed the cost to cure. It takes time and effort to repair the items. Why else would investors buy houses to renovate if they only got back their costs?

 

[Dublin ohio]

There were some other issues that I brought up in an official dispute such as the appraiser using a commercially zoned multi-family even though the subject is a residential mf (there were other residential comps he chose not to use). He didn't change it. I'm trying to be impartial, but I felt like there was a couple of things that made little sense. I'm guessing you're referring to the adjustment for the extra unit?

Unit adjustment, gross building area adjustment, lack of bedroom/unit adjustment. The unit adjustment and gross building area adjustment do not jive. Would like to see the rental rates for everything. Mayne I just do my 2-4 family appraisals different. But most of my adjustments are typically based on income analysis. Usually a 2 bedroom unit would rent for more than a 1 bedroom unit. 75k condition adjustment for a 2 unit 1512 sf building? The comment that the most important thing in market is that tenants pay their rent on time. That would be pretty common in any market anywhere. IMO. Appraiser has no clue how to appraise an income/investment property

 

[Sadie]

Unit adjustment, gross building area adjustment, lack of bedroom/unit adjustment. The unit adjustment and gross building area adjustment do not jive. Would like to see the rental rates for everything. Mayne I just do my 2-4 family appraisals different. But most of my adjustments are typically based on income analysis. Usually a 2 bedroom unit would rent for more than a 1 bedroom unit. 75k condition adjustment for a 2 unit 1512 sf building? The comment that the most important thing in market is that tenants pay their rent on time. That would be pretty common in any market anywhere. IMO. Appraiser has no clue how to appraise an income/investment property

Those nifty little grids at the top and bottom of the sales grid are helpful in visualizing the relationship between sales price and bedroom/unit price. I agree the appraiser may have been over his/her head.

 

[George Hatch]

I don't think the grid is the problem. I think the appraiser's answer doesn't align with the checkbox at the bottom. Their methodology for getting to an "as is" value wasn't bad, except that their "as is" conclusion wasn't marked as such in their report.