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Present-tense Or Past-tense

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ZZGAMAZZ

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Joined
Jul 23, 2007
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Certified Residential Appraiser
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California
Per SMT-3 the effective date of a current appraisal is synomonous with the report date.

Per SMT-4 "verb tenses" are critical to establishing a clear understanding [of whether the report is retrospective, current, or prospective].

Per SMT-6 "reasonable exposure time is always presumed to preceed the effective date of the report."

Question: Should reference to market exposure in a current assignment be written in the present tense or past tense?
 

leelansford

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Mar 29, 2002
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Certified Residential Appraiser
State
Illinois
Per SMT-3 the effective date of a current appraisal is synomonous with the report date.

re: above...Instead of "synonomous", I believe that you meant to use the word "contemporaneous".

And...to your question...in a current appraisal, it is (as you state) understood that exposure time preceeds the effective date of the appraisal.
Thus, you might begin a sentence with "A reasonable exposure time is..." and the intended user should understand.
 

hastalavista

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May 16, 2005
Professional Status
Certified General Appraiser
State
California
The statements on retrospective/prospective appraisal reporting put additional emphasis on verb tense in an attempt to make it very clear to the reader one is talking about the past or the future.
The concern was that the report not use language that may lull the reader into thinking the valuation analysis is contemporaneous with the effective date when it isn't.

As Lee hints, absent a retro or prospective condition, the verb tense takes on less significance as the valuation analysis is presumed to be contemporaneous with the effective date.
 
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