Retrospective appraisal

[ohiodoug]

Quick question: should a retrospective appraisal be written in present tense and refer back to conditions at the time or should it be done as if the appraisal was being done at that time.

 

[Peter LeQuire]

As the value opinion is expressed as of a certain date in the past, and you're report date is current, it's proper to use the past tense in referring to the value: i.e., "My opinion is that the value of the property was $zzz,zzz on July 4, 1776."

 

[Jerry Bone Jr]

Quick question: should a retrospective appraisal be written in present tense and refer back to conditions at the time or should it be done as if the appraisal was being done at that time.

If I'm writing about the current analysis then I'll use present tense. If I'm writing about the past conditions or historical events then I'll use past tense.

 

[CANative]

Your question is answered in SMT3 of USPAP.

See lines 2686 - 2688.

The use of clear and concise language and appropriate terminology in appraisal reports helps to eliminate misleading reports. To avoid confusion, the appraiser must clearly establish the date to which the value opinion applies. In retrospective value opinions, use of a modifier for the term "market value" and past verb tenses increases clarity (e.g. "... the retrospective market value was ..." instead of "...the market value is ...").

 

[RSW]

The appaiser always writes in third person in his report!