Summary Vs. Self Contained

[xm39hnu]

Originally posted by Steven Santora asked...+--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Steven Santora asked...)</td></tr><tr><td id='QUOTE'>Point taken. Does it help if I say your example of “summarize” looks a lot like “state.”[/b]

Sure does help. As a matter of fact, my "summary" is only more statements. You're right. That's not a summary. (See, Austin? Thought I had it nailed, and instead, I *got* nailed). My apologies for a bad example. Zoning matters need to be either fully disclosed, or merely stated. And if anything is "retained in the appraiser's work file," then the report is restricted use. <!--QuoteBegin-Steve went on to say...
BTW, Jim, Std 2 doesn’t specifically require that we report zoning. [/quote] Should've quit while you were ahead . SR2-2 (B) (x) requires a summary of HBU, which in turn requires that land use regulations be addressed to determine legal permissibility. Did you mean "doesn't explicitly require..?"

You know, a good site diagram with dimensions and a table of measurements and ratios would probably be more descriptive of this matter than a verbose narrative, especially if coupled with a short statement to the effect that "subject appears to comply with all requirements of R-2 zoning. See Fig. XX for details. Only a survey by a Registered Land Surveyor can determine actual compliance...appraiser isn't an expert...don't blame me if it ain't right."

 

[PL1957]

Originally posted by Steven Santora@Aug 25 2005, 01:52 PM
FWIW George, I know a national firm that routinely labels narratives self-contained. I have sold them “summaries” that I have seen them shrink in half and call the end result self-contained.

The labeling of the report is frequently dictated by client needs. Virtually all work we do for banks has to be completed in a way that meets the bank's appraisal requirements, regardless of whether a report is labeled "Summary" or "Self-Contained".

We have several clients who order "Summary" reports but have requirements that IMHO, clearly throw them into the "Self Contained" category. In that case, we provide them a Self Contained, charge them for a Self Contained and label it a Summary. That way everybody is happy.

The bottom line is that it's the appraiser's responsibility to determine what the client wants/needs and meet that requirements, regardless of the label that they put on the report.

 

[Fred]

Jim

Should've quit while you were ahead . SR2-2 (B) (x) requires a summary of HBU, which in turn requires that land use regulations be addressed to determine legal permissibility. Did you mean "doesn't explicitly require..?"

I haven’t lost ground. My point was that you would have to bootstrap off other requirements. Everything in a report can be considered part of HBU. The underlying SR 1-3 is a “specific” requirement, hence the word. But this is tangential stuff.

You know, a good site diagram with dimensions and a table of measurements and ratios would probably be more descriptive of this matter than a verbose narrative,

And you can play the word game right back at them depending on whether you want the map excerpt to state, summarize or describe.

If you want to say a table “summarizes,” you call it a tabular summary. If you want to say it “describes,” you call it a descriptive breakdown.

 

[xm39hnu]

Originally posted by Steven Santora posted...
If you want to say a table “summarizes,” you call it a tabular summary. If you want to say it “describes,” you call it a descriptive breakdown.

:rofl: I love it!

It *is* a word game though. I'm reminded of the poster who related the story of the appraiser who got bounced as an expert for testifying that he "determined" the value of the subject to be $??? Should've said "concluded," I guess.

 

[Jungle Boy]

Originally posted by David Bodtcher@Aug 23 2005, 07:53 PM

Watch it, Bob.

I LOVE IT ~

This thread is the best example of some-one asking a seemingly dumb question regarding BASIC appraisal knowledge, and it turning into a meaninful discussion.

Let's never not take a topic seriously because it sounds too basic.

Good going David.

 

[Abester]

I don't charge for reports. Is that atypical?

By the way, I can't concentrate long enough to write the lengthy posts of some of you. I am sorry.

 

[Mike Garrett RAA]

The level of detail is the key....

Describe

Summarize

State