Draft Reports

[Mr Rex]

Actually, I imagine you do something similar whenever you get a "stip."

So, if the language pleases you, feel free to use it.

Yeah, I dazzle them with brilliance when they bite back, but thats far and few between. Maybe if I had a few extra letters behind my name, I wouldn't be bothered with such trivialities. They would know better.

 

[PropertyEconomics]

I cant believe that what appear to be decent ethical appraisers are arguing the merits of delivering an appraisal but not calling it so. It makes no sense to me. We all know what the rules are ... and as I stated before if the client wants something changed and its reasonable and we agree .. its changed and we move on.

 

[Hamlet]

Well I know some people who get very few stips, but they don't run a draft by the client before delivering the "official" report.

 

[Mr Rex]

I'm going to start using the term bathroom stall reports for draft appraisals, given the NC Speaker of the House thing and some toe thumping in an airport bathroom stall in some other state to out north. No harm no foul until the wrong toe is tapped. Toe-may-toe. To-mah-toe.

 

[Hamlet]

Does this have anything to do with the toe-may-toes being recalled?

 

[PropertyEconomics]

Does this have anything to do with the toe-may-toes being recalled?

No but apparently the client can recall the appraisal if they dont like it .. as long as its called a draft.

 

[Fred]

With sophisticated properties, there can frequently be differing opinion as to how various things can be interpreted, i.e., lease clauses, extracting capital expenses from statements, what is recoverable, etc. Also, the client can ask that certain areas of the report be explained better, i.e., absorption, vacancy estimates, market rental rates, etc. It's also used a check to make sure that the appraiser didn't miss something that is obvious to the client, but may not be obvious to a third party. It is simply a tool to arrive at a better work product - nothing more and nothing less.

Is it just me, that every time someone calls our research, analysis and conclusions "products," there is something suspect in the logic -- because we don't sell "products."

Take your phrase "differing opinions on how things can be interpeted." And with someone less scrupulous than you, if "draft" means a copy of a report that will be shredded, the fact that the appraiser originally held the opinion that the property was worth one million, before the client's differing opinion turned that into "final" report stating three million for trial, is lost.

If you are disclosing you scope of work honestly, how do avoid disclosing how the client's review of the draft affected the process and results?

 

[Mr Rex]

I flash back to Hendrix. Are you sophisticated?

 

[PropertyEconomics]

I flash back to Hendrix. Are you sophisticated?

Those preparing draft reports are smoking the same ganja as Hendrix I think.

 

[Hamlet]

I think there is a connection here, Puple Haze, kool-aid (grape maybe), Nikes, purple capes, spaceships, magic beans....:Eyecrazy: