Cost Approach Wording

[Mike Boyd]

Cynthia......If, at first, your business does not fail, try, try again. You keep doing things to antagonize the lender. As a lawyer, I would think you could develope some verbiage that does not require them to pass on your services.

I'm not picking on you as many of you do the same thing. Some times, we have to take a little risk.

 

[Mike Garrett RAA]

I see huge problems with that verbage!

 

[Smokey Bear]

..You keep doing things to antagonize the lender.

Maybe you think I should serve coffee and tea with the order, and provide termite inspections (for free) and home inspection (for free) and take on the title insurance liability as well? I'm just tired of the appraiser being asked to take on liability for things that have nothing to do with appraisal.

If, at first, your business does not fail, try, try again. .

I'm sorry, but I won't be a ***** to the lenders just to stay in business. At some point you have to draw the line. Maybe you think I shouldn't have fired my biggest client (40k a year) for modifying my appraisal by $100k, just so I could "stay in business"??

 

[CANative]

Although dad and I lock horns frequently Cynthia, you've got to admit that making a client sign a bunch of stuff in order for you to proceed is pretty antagonistic.

 

[Smokey Bear]

Although dad and I lock horns frequently Cynthia, you've got to admit that making a client sign a bunch of stuff in order for you to proceed is pretty antagonistic.

It's much more of "wishful thinking" than reality. But really, why should we be responsible at all for insurable value? Why shouldn't THEY assume the responsibility for improper use instead of us? Gee, we're the occupancy police, the contract police, the flip police, the insurance adjustor, and the home inspector on top of being an appraiser. What will they think of next? Roof certs? On another thread, they're asking for the foreclosure rate for the neighborhood.

 

[CANative]

Weigh the risk/benefit on the odds of a house you appraised burning down and then someone suing you over a difference in opinion of the RCN after you've advised that it is not intended for any other use against not getting any appraisal work from a continually growing list of disgruntled former clients.

 

[Smokey Bear]

Greg, I am and I do, but at least let me grouse about it. Do I have to bring back the grumpy bear?

 

[The Warrior Monk]

On another thread, they're asking for the foreclosure rate for the neighborhood.

I see nothing wrong with that request, provided that it is made at the point of engagement.

Appraisers analysis markets...determining a foreclosure rate is certainly within the realm of the appraisers expertise.

Roof and termite certs and the like are certainly outside the realm of appraisal practice.

 

[CANative]

 

[joe huffman]

How do you people analyze the site in the HBU, the comments about not being able to extract site value for the cost approach seem unreal to me, do you not value the land as vacant and then as improved, part of the Highest and Best Use part of the appraisal process.