Brian Weaver
Senior Member
- Joined
- Apr 16, 2005
- Professional Status
- Gvmt Agency, FNMA, HUD, VA etc.
- State
- Illinois
We do a mix of summary and self contained (commercial). For a summary report information on the site and improvements will generally be contained in a single large table taking up about a page. In a self contained there's a smaller table and several pages of description and discussion.
When it comes to the valuation section a summary report will contain a map of the comps, a summary table, an adjustment table and a page or so of discussion/reconciliation. In a self contained there's also discussion of each comp, the adjustments for each comp and more in depth analysis of the final value conclusion with that approach. In both cases there would be a full page write up of each comp in the addendum.
I've seen some appraisers take the "kitchen sink" approach to self contained reports. This means they included everything but the kitchen sink. I saw one where the appraiser included not just a full page write up of a lease comp, but the listing flyer (5-6 pages), and copy of the lease that he obtained (10-15 pages). The report also contained basically the entire zoning code (80-90 pages). The final report was over 700 pages long.
That's ridiculous.