CANative
Elite Member
- Joined
- Jun 18, 2003
- Professional Status
- Retired Appraiser
- State
- California
A recent project has turned into what amounts to a consulting assignment. It was originally to be a land appraisal using a hypothetical condition (that the existing improvements do not enroach on the the lot next door). Without divulging too much (the assignment is a referral from a forum member) lets just say that the appraisal part is no longer relevant because there was something about the next door lot that the client didn't know about.
So anyway, here goes my first question:
The client needs information and some analysis and due diligence to help them in their negotiations or on how to best proceed at this point. One of the issues will be (in my opinion) the fact that I don't think the next door lot (the lot on which the clients property enroaches on) was purchased by the present owner at typical lot values for that time and it's probably because he knew there was an enroachment (I have some evidence of this). To support my conclusions I will probably have to say what it sold for and what similar properties sold for at the time. It seems this would result in some sort of retrospective value opinion.
Is this portion of the consulting assignment an appraisal or is it just a discussion of sales data?
*sigh* The issues of this assignment are not too complicated but I've never put a written consulting assignment together and I'm having some USPAP difficulties.
So anyway, here goes my first question:
The client needs information and some analysis and due diligence to help them in their negotiations or on how to best proceed at this point. One of the issues will be (in my opinion) the fact that I don't think the next door lot (the lot on which the clients property enroaches on) was purchased by the present owner at typical lot values for that time and it's probably because he knew there was an enroachment (I have some evidence of this). To support my conclusions I will probably have to say what it sold for and what similar properties sold for at the time. It seems this would result in some sort of retrospective value opinion.
Is this portion of the consulting assignment an appraisal or is it just a discussion of sales data?
*sigh* The issues of this assignment are not too complicated but I've never put a written consulting assignment together and I'm having some USPAP difficulties.