Top 10 things Attorneys should know about appraisals.

[Lee Lansford]

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What idiot would send a trainee to do a divorce appraisal???????
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At this moment I'm on the opposite side of this exact situation. This should prove to be interesting.

 

[DWiley]

There is nothing better than turning in a fully justified report with market support and getting the opportunity to discredit a poorly written report from "the other side" because they chose to go with the cheap guy.

I think it is just as important for an attorney to realize that you may well conclude that the appraisal report prepared for the "other side" is well written and presents good support for the conclusions.

 

[Mike Kennedy]

Tell the attorneys that many appraisers aren't very good at what they do.

Much like attorneys.

 

[Doug Smith SRA]

Designations

I would also anticipate some questions. In advance, think about a question that asks about only using appraisers who have a designation such as an MAI.

Attorneys seem to place a lot of weight on credentials and the resume. I think the emphasis of an objective answer is to place the weight on expertise and experience but highlight the advantage of using an appraiser with a designation.

This might be minutia but I had an attorney who ordered me to remove my extraordinary assumptions. He did not want the other side to discredit the report that used "extraordinary" assumptions. You might spend a few minutes on appraisal vocabulary and as an example explain briefly why appraisers use extraordinary assumptions and hypothetical conditions.

There are some recent news items that might evoke some questions. The IRS is cracking down on Conservation Easements and also raising the status of appraisers as "non signing tax preparers." Read up on these two items.

More and more cases are settled in mediation. Make the case that appraisers can be of great assistance preparing the case for mediation.

Good luck.