In Law Suite

[Richard Carlsen]

Plus the client must agree to it PRIOR to doing the analysis and issuing the report to the client.

I would think a revised assignment so noting the appraisers limitation and solution would be in order.

 

[AnonApprsr]

You dont' think it's ok to orally tell the Client that you have some experience, and will now work on the knowledge to become competent for this type of property?

 

[Webbed Feet]

You dont' think it's ok to orally tell the Client that you have some experience, and will now work on the knowledge to become competent for this type of property?

Sure, if you don't mind being boiled in oil a couple of years later by your state board and sued by your client.

It sure is funny how that "oral" stuff is damn tuff to document as ever having actually occured later when you find out the people you orally disclosed to either don't work there anymore or can't remember a darn thing about it.

 

[AnonApprsr]

Sure, if you don't mind being boiled in oil a couple of years later by your state board and sued by your client.

It sure is funny how that "oral" stuff is damn tuff to document as ever having actually occured later when you find out the people you orally disclosed to either don't work there anymore or can't remember a darn thing about it.

I was just wondering. Perhaps an email would be the minimum.

 

[Webbed Feet]

I was just wondering. Perhaps an email would be the minimum.

I think disclosing all of it in the report so any and all intended users also know about it would be the minimum.

 

[Webbed Feet]

I have an assignment to do an appraisal on a pre-existing residential home, with plans and specs to add a detached in law suite/home. Of course there are no similar sales with such an addition. Hence striking out on the paired sales technique. Any better ways to derive a good adjustment or should I add the additional square footage to the main living area, to compare to larger homes? Any other concerns I should address? Whoever replies..Thank you!

G115,

You had BETTER make sure through the jurisdictional authoriity these plans are legal. If the zoning does not allow a second house on that site, or has restrictions about doing that and these plans violate the restrictions... you've got a lot more issues than just competency.

If you don't your client had better accept your not just using CB2 for the plans and specs HC... You need to be using CB4 to have an EA "all this is legal" with a required inspection of those plans and specs by the J.A. and issuing of permits and occupancy certificate. All assuming 03/2005 forms and you understand me.

 

[AnonApprsr]

I think disclosing all of it in the report so any and all intended users also know about it would be the minimum.

I was talking about the prior disclosure to the client.

 

[Richard Carlsen]

Read USPAP.

You have to inform the client of your lack of experience and submit a plan of action to overcome that lack of experience. The client has to agree to allow you to go ahead.

Here's the kicker: When you write the report, you have to disclose in the report your lack of experience at the acceptance of the assignment plus include your plan of action to correct the lack of experience plus what you did to overcome the lack of experience plus put the clients initial approval of this plan, in the report.

Try doing that all the while staying compliant by doing an oral exchange with the client. Fat chance.

Do it right or don't do it at all.

 

[AnonApprsr]

Definitely, I hope appraisers take notice.