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Mass. Appraiser In Hot Water

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Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Agree with Glen.

Sansoucy allegedly told the town he could defend the $33 million figure based on an appraisal he did for the town of Seabrook in 2011,

[In 2014] Sansoucy allegedly told the town he in fact could only testify to the assessment of approximately $20 million or less.

He allegedly lowered the number again before the hearing, telling town officials he could not support a value greater than $10 million, the suit states.

The town was forced as a result to negotiate with NextEra for a $15 million assessment, less than half the originally appraised value for the utility property in Hampton, according to the suit.


Who decided the assessment should have been based on $33 million in the first place?

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Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
They called me, but I told them I was going on vacation, but I referred it to George. Nice $10,000 referral fee.
 

Artemis Fowl

Senior Member
Joined
Mar 16, 2004
Professional Status
Certified Residential Appraiser
State
Michigan
He was contracted to appraise a nuke plant by the town...pretty sure it would have been for assessment purpose. If I had a nuke plant in my city I sure as heck wouldn't value it by myself. The client should be able to rely on the appraisal for its stated purpose after all.

EDIT: It is not totally clear in the article if he actually did the original appraisal or just agreed to defend the value. Some mention of using someone else's work product but that's it. I imagine there would be quite a few different products involved in such a valuation.

If not the original appraiser...why isn't the original defending? Did the engagement not provide for testimony? For that kinda monies...why isn't there a new appraisal being used to defend? Something is off in that situation somewhere.

Or I'm just rambling on and on and demonstrating my reading comprehension issues. Maybe I should put the shovel down now.
 
Last edited:

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
This is an engineering project.
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
He was contracted to appraise a nuke plant by the town...pretty sure it would have been for assessment purpose. If I had a nuke plant in my city I sure as heck wouldn't value it by myself. The client should be able to rely on the appraisal for its stated purpose after all.

EDIT: It is not totally clear in the article if he actually did the original appraisal or just agreed to defend the value. Some mention of using someone else's work product but that's it. I imagine there would be quite a few different products involved in such a valuation.

If not the original appraiser...why isn't the original defending? Did the engagement not provide for testimony? For that kinda monies...why isn't there a new appraisal being used to defend? Something is off in that situation somewhere.

Or I'm just rambling on and on and demonstrating my reading comprehension issues. Maybe I should put the shovel down now.

There was nothing in the article stating this guy did any appraisal, or, that this guy stated a "value" which would have required a workfile.

He was a consultant.
Yup, I could get you there,
Nope can't get you there.
Well if I gotto go to court, I can't support anything near that.

Suing him won't do any good for that amount of money. There wasn't any appraisal, and few individuals have those kinds of assets to take.



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jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
To many conflicting "allegedly" statements in that article of what he was actually hired to do, would need to peek at the letter of engagement. The project itself would appear to require a "team" of experts and a very lengthy report covering a truckload of information.
 

KHS445

Member
Joined
Aug 20, 2011
Professional Status
Appraiser Trainee
State
Michigan
Run a google search on him (George Sansoucy, Massachusetts). A copy of his resume should appear near the top of the search. If the resume is correct he has a ton of experience valuing this type of property and I have to believe he is smart enough to know what he is doing when it comes to discussing or accepting an assignment.

My uneducated guess is the conversations went something like this. First contact: Assessor - Hi, George can you assist us in the defense of our assessment. George - sure can, send me the information. Second contact: Assessor - what do you think? George - based on a quick review of what you sent it looks like $20 Million is about it, but I will need to do additional research in order to form an opinion. Third contact: Assessor - what do you think now that you have had a chance to review all of the information? George - Boy I can't see how I can support more than $10 Million.

The town needs to be careful as the utility may hire George to defend them next year as they agreed to $15 Million settlement and that is 50% above what George told the town. Part of his defense could be you are still assessing the property for $5 Million more than I think it is worth, so you are really a head of the game. Based on the information presented the only argument the town may have is they wasted some time and had additional attorney fees based on the initial discussions. Their assessment could not be supported so George didn't cost them any legitimately deserved tax revenue. While two appraisers can disagree on value, with George's experience in valuing this type of property I seriously doubt that another qualified appraiser would have a 200% to 300% valuation differential.
 
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