Don't People check their reports?

[DKAYTES]

Just had a review come in and when I looked at the report there were too many contradictory things on the housing trends conflicting with the neighborhood descriptions. But the one thing that really stood out and I think this might have something to do with the reason why I got the assignment to do the review - The appraiser had all of the sales at the same sales price !!! Gee think that affect the opinion of value ??? :Eyecrazy: Of course I went to verify the sales prices of the comps... :new_2gunsfiring_v1:

I don't know what everyone else does, but I print out every single report / review on paper to review it before sending out my reports!

 

[Metamorphic]

Stuff happens.

I used to work for an environmental engineering firm. We had about 2 dozen people in the office. Our business card template was one that has been used for at least 4 years. One day I was out with a coworker at a job site. He handed his card to crane owner operator. The operator looked at for about 2 seconds and said "environmental" is spelled wrong" (envrionmental). The crane guy with a HS education was the first one that ever noticed. The boss was kind of p.o.'ed.

It was at that point that I gave up on the idea of perfection in a written document. You do the best you can but you dont cry about missing stuff because nobody is willing to pay you what it takes to truly make a product error-free, or even close to it.

But not getting the comp prices right is pretty bone head.

I did a review once where the columns in the comp grid didn't add up. Not even close. That's one way to make value I suppose....override the program and just put the number you want to reconcile in. Save you having to make absurd adjustments.

 

[RSW]

Stuff happens.

I used to work for an environmental engineering firm. We had about 2 dozen people in the office. Our business card template was one that has been used for at least 4 years. One day I was out with a coworker at a job site. He handed his card to crane owner operator. The operator looked at for about 2 seconds and said "environmental" is spelled wrong" (envrionmental). The crane guy with a HS education was the first one that ever noticed. The boss was kind of p.o.'ed.

It was at that point that I gave up on the idea of perfection in a written document. You do the best you can but you dont cry about missing stuff because nobody is willing to pay you what it takes to truly make a product error-free, or even close to it.

But not getting the comp prices right is pretty bone head.

I did a review once where the columns in the comp grid didn't add up. Not even close. That's one way to make value I suppose....override the program and just put the number you want to reconcile in. Save you having to make absurd adjustments.

I have to respectfully disagree with you. One error by itself may not affect the credibility of a report. But, a series of errors may affect the credibility of an appraisal report, which is a violation of USPAP. We are not to strive for perfection. But, we are to strive to provide a credible appraisal report.

 

[TC]

I did a review once where the columns in the comp grid didn't add up. .

Don't even get me started on trainees doing reviews.


TC

 

[Metamorphic]

I desperately wish I could share this POS appraisal with you.

After reviewing it and my review and re-appraisal, I'd bet money you'd concluded that I'm more worthy of this low number AR's registration than he his.

 

[Metamorphic]

I have to respectfully disagree with you. One error by itself may not affect the credibility of a report. But, a series of errors may affect the credibility of an appraisal report, which is a violation of USPAP. We are not to strive for perfection. But, we are to strive to provide a credible appraisal report.

Errors that effect the conclusion are totally unacceptable. You dont let a report go till you're sure that that end of it is perfect. But it takes an extraordinary effort to write a report that's perfect in every detail; far more effort than we can justify for our intended use and intended users....not to mention pay grade.

 

[timd354]

Don't even get me started on trainees doing reviews.


TC

Amen, brother!!!

 

[RSW]

Errors that effect the conclusion are totally unacceptable. You dont let a report go till you're sure that that end of it is perfect. But it takes an extraordinary effort to write a report that's perfect in every detail; far more effort than we can justify for our intended use and intended users....not to mention pay grade.

You are correct that errors that effect the conclusion are totally unacceptable. If we were to complete an appraisal the way it was really supposed to be done, we would not be able to finish a report in two weeks. That's why it is called a summary appraisal report. It is impossible to write a report that is perfect in every detail. There is not a report written that does not violate USPAP in some way. As an appraiser becomes more competent, his/her ability to produce a credible appraisal report should take less and less time. We can only charge our client a reasonable fee in which the market will bare.

I believe we are in agreement for the most part.

 

[Tim Hicks (Texas)]

Do we really need to check our reports anymore since the lenders and AMC's have so many checklisters doing it for us?

 

[Kevin Mc]

I desperately wish I could share this POS appraisal with you.

After reviewing it and my review and re-appraisal, I'd bet money you'd concluded that I'm more worthy of this low number AR's registration than he his.

No arguement. Most appraisers are hacks. That does negate the fact that trainees should not be doing reviews.