ZZGAMAZZ
Elite Member
- Joined
- Jul 23, 2007
- Professional Status
- Certified Residential Appraiser
- State
- California
MB client just calls to notify me that the field review of a 45-year-old 4-plex in average condition for a FHA insured loan came back with a 25 year remaining economic life that I am being asked to rebut.
I presume that it's a typo on the part of the review appraisal but I have no way of communicating with the review appraiser or the D.E.U.
I developed the Cost Approach in order to include an opinion of site value and remaning economic age, which was 32 years in my opinion.
Do I include a perspective of the potential fallacy of the remaning economic life concept, debunk it as being largely subjective, or describe the concept by quoting from reference sources?
I hate to waste time and this could be an endless, futile debate...
I presume that it's a typo on the part of the review appraisal but I have no way of communicating with the review appraiser or the D.E.U.
I developed the Cost Approach in order to include an opinion of site value and remaning economic age, which was 32 years in my opinion.
Do I include a perspective of the potential fallacy of the remaning economic life concept, debunk it as being largely subjective, or describe the concept by quoting from reference sources?
I hate to waste time and this could be an endless, futile debate...