Retrospective appraisal problems

[J Grant]

I really have no idea if electricians have a similar 'USPAP' or not - and don't care. I do know that appraisers do, and they're required to adhere to USPAP due to the state regulatory requirements, so.... not sure that argument would hold up at a state board hearing, J...

USPAP references provide reasoning and analysis within the appraisal ( I assume an AI educated appraiser would do that) The USPAP standard relates to appraisal content and does not spell out any obliteration for an appraiser to answer post delivery questions. -

 

[alebrewer]

I assume an AI educated appraiser would do tha

You know what they say about assumptions...

 

[bnmappraisal]

I have no problem answering questions post delivery on private/non lending assignments. To me, that is just being professional and providing a professional service.

Whether the client agrees/likes my answer(s) is a different story, but I do try and take the time to make sure they understand WHY my opinion is what it is

Usually once they understand, they respect the opinion even if they don't like the opinion

 

[J Grant]

I have no problem answering questions post delivery on private/non lending assignments. To me, that is just being professional and providing a professional service.
Whether the client agrees/likes my answer(s) is a different story, but I do try and take the time to make sure they understand WHY my opinion is what it is
Usually once they understand, they respect the opinion even if they don't like the opinion

I answer questions as well, BUT I already got paid for the appraisal !
This OP is withholding payment as leverage to get appraiser to answer questions- perhaps the appraiser is not answering as leverage to get paid ..

Perhaps this prince of a client, since it was a retrospective appraisal, can write a retrospective check ( joke)

 

[phoebega]

My questions of the OP are; when was the house built? The appraiser needs to go back in time to find an adjustment for the premium view and go further out in distance to find similar areas with more recent sales. Believe me, there are similar areas. There always is.

When Mother bought this place, house or just site, what premium did she pay (percentage wise) for the natural view?

3 people approaching you to buy may be looking for a bargain, beware.

Houses in the neighborhood were built late 70s into early 80s. There were a handful of empty lots with drainage issues that apparently couldn't be solved without modern technology, those have been built on the last 5 years or so.

Don't know what the premium was 35 years ago, if any. At that time there was still undeveloped land in the area. Now everywhere is built up, mainly on 1/4-1/3 acre lots except for this neighborhood and a few scattered homes on 1-2 acres on the opposite side of the preserve.

People who have approached me about buying are a neighbor who wants to move his parents there, the sister of a neighbor, and a friend of the next door neighbor. Now that I'm thinking about it there is also one more-- a friend of the neighbor across the street, wanting a 4br. All are specifically interested in this neighborhood and have given me their contact info for when I'm ready to sell.

Next door neighbor on the opposite side is a real estate investor and approached me right after my mother passed away, but dropped out when he realized it was not going to be a bargain sale.

 

[phoebega]

I have no problem answering questions post delivery on private/non lending assignments. To me, that is just being professional and providing a professional service.

Whether the client agrees/likes my answer(s) is a different story, but I do try and take the time to make sure they understand WHY my opinion is what it is

Usually once they understand, they respect the opinion even if they don't like the opinion

That's the way I see it. I may not like the opinion but feel he owes me the courtesy of explaining the assumptions behind his adjustments.

 

[alebrewer]

That's the way I see it. I may not like the opinion but feel he owes me the courtesy of explaining the assumptions behind his adjustments.

Maybe a good solution is to agree to meet up so that: (1) you can submit payment for the services rendered, and (2) you guys can discuss the reasoning behind the adjustments and/or conclusions?

 

[phoebega]

Don't disagree with the recommendation to pay the appraiser at all. Would hope that the parties executed an engagement letter, which should have spelled out the intended use and intended user(s), as well as the effective date of appraisal. Under the assumption that the appraiser was aware of all of these items, the report should have been delivered in a format that the intended user could understand (e.g. no UAD verbiage). If that is the case, as the intended user, I'd look for support within the report for how the appraiser deduced the view (and/or location) adjustment. If it is not discernable/available/explained, I'd ask for clarification if I were the intended user. Something to this effect: "Mr/Ms appraiser, I have looked for documented support of your view/location adjustment within the body of the report. Could you please either (a) direct me to the section where you discuss support for this adjustment, or (b) revise your report to include discussion of your support for this adjustment." Should you need support for your request from USPAP, S1-6(a) and S2-2(a)x(1) might be helpful (assuming it was not a restricted report).

Thank you, very helpful.

 

[J Grant]

That's the way I see it. I may not like the opinion but feel he owes me the courtesy of explaining the assumptions behind his adjustments.

Maybe you owe him the courtesy of a payment first.

 

[phoebega]

Not disagreeing with that at all.

Sounds like the appraiser is not MIA and answering questions but the OP doesn't like the answers. This is not exactly a new issue in the industry.

Actually he has been MIA... has not provided any answers.