MUST land value be included

[CANative]

but I could be convinced that reporting an underlying opinion of site value should be a required part of the reporting process for mortgage-finance appraisals.

FTR... I have never gotten all the way through an appraisal without estimating the site value, RCN and depreciation. I just don't always work it out completely on paper and then transfer this process into the report. Lots of extra work that I won't get paid for and extra liability. I don't do half-assed, 10 minute cost approaches. They're always documented and I show my work.

If lenders want a full-blown, three approach appraisal report they need to pony up the money and allow for the extra time. Lenders are not willing to pay $1,000 or more for residential appraisal reports.