Simple Question. Is "bracketing" Required By USPAP?

[J Grant]

Since these are not IRS assignments I don't care about their MV definition.

When an appraiser agrees to appraise to a stated MV definition (in this case on URAR form lender purpose) then they should do so. If they think the MV definition is stupid or contrived, don't do assignments for lenders. We are free to choose or reject different avenues of work.

Most appraisers are aware they do not give value , that the market does, the problem is the market indications of value are not precise and neat and thus can not be proven precisely or neatly, which is what some clients expect the appraiser to be able to do.

 

[J Grant]

Changing the value is an option.

 

[ValueArtist]

I feel that bracketing helps derive and demonstrate a paired sales analysis for the adjustments made.

 

[MKBURNETT]

I don't get it...you were 6k over the CS price but still below every single other sale price of similar comps...and what about prices of listings/pendings? An opinion of market value credibility is not measured by how close it comes to or how far it deviates from a SC price.

The problem in this report is not lack of bracketing per se, it could be that your low OMV is not supported by the comps and market activity. When results of a report are out of wack, the lack of bracketing can be the symptom of a problem.

A subject contract price can influence our opinion of value as it is a pending sale, but how much influence (or no influence) to accord it has to be measured within the context of market activity/comps as well as motivation and terms of the subject contract as MV terms/motivation or not.

I also had a higher appraisal value than contract sales price and could not give s lower sale price but could give s older sale that was smaller. I put no the sales price is not bracketed but the appraisal value is. Market moved up in value and the review machine can't handle it.