Restrain
Elite Member
- Joined
- Jan 22, 2002
- Professional Status
- Certified General Appraiser
- State
- Florida
I do a fair amount of review work, some for possible legal action, so I have to take my time. My main gripe is a lack of explanation. The appraiser defines the neighborhood, then uses comps outside of the neighborhood (not one inside it). The appraiser throws a value at the land with no support, while I can find significant support from the records available for a significantly different value. And finally, no support for the adjustments made in the Market Approach. A comment to the fact that "the adjustments are based on differences in the market" doesn't fly. If you don't have market support for an adjustment, why is the appraiser making the adjustment?
The value may be reasonable but without valid support and explanation, the report is so much waste paper.
Roger
The value may be reasonable but without valid support and explanation, the report is so much waste paper.
Roger