Reconsideration of value declined

[Zoe]

I have never asked a property owner what they think their property is worth or would sell for. I'll ask them if they know of any recent sales in their neighborhood. I ask about what changes they've made to the property since they bought it. I don't mind getting a copy of a previous appraisal... usually the only part of it I really look at is the building sketch.

That is fine. On complex assignments, it is nice to know where the appraiser went. Asking owner helps me know if they have a clue or not. I see the owner as a market participant. I don't call what I do an appraisal review if they give me a prior appraisal. I just go through the appraisal process they used and the analysis just to know what the owner has already seen. I have seen a big error on a sketch on prior appraisal and had to tell owner why my sketch was so different than the previous appraisal. I went through the sketch and figured out they had accidently included like 500 sq ft of garage in GLA. The owner sued the appraiser and their E&O had to pay damages to the owner from went they bought the subject.

I just put the appraisal in the work file.

I am sure the bank wasn't real happy with prior appraisal either that included garage in GLA.