Offhand Comment or Second Value?

[karinkelsey]

Am reviewing a report...
In the final reconciliation a statement is made:
"there is little doubt that once $xxxx is invested to cosmetically fix up the subject that a value of, at least, $xxxxxx could be easily justified".

Is this stating a (second) opinion of value? A hypothetical assumption? The report was "as is" so is this comment even applicable or necessary???
Or am I over-reacting. It's late and it's been a long day.

 

[MBD]

That statement is a hypothetical condition.

I am making an extraordinary assumption that the appraiser is a friggen idiot.

 

[Marcia Langley]

Karin,

It is an additional opinion of value (additional appraisal) on a property that does not yet exist (the 'fixed up' property) and would constitue a hypothetical condition for that new appraisal, not the old one.

Such an appraisal must be fully developed per Standard 1 and reported per Standard 2. Were there Standard 2 requirements met for this second appraisal elsewhere in the report?

Not only that but the second opinion of value should not be conveyed with a phrase like "there is little doubt". Sheesh.

 

[Mike Kennedy]

http://www.appraisal.state.az.us/Complaint-Appraiser.PDF

and......
Was it a Sale Appraisal requiring Contract Analysis?