Value vs Value

[litch96]

If two reports are under 5% of each other but you are being asked to say why your report is better, how do you answer this question.

 

[Joe Flacco]

If two reports are under 5% of each other but you are being asked to say why your report is better, how do you answer this question.

Which report is better is for the client / user to decide. All you can do is make your case for your opinion of value.

 

[Surf Cat]

More context would be helpful.

Have you been engaged to perform an official review of the other appraisal?

Or is some AMC just throwing the other report at you and asking why do you think yours is better?

 

[litch96]

it is actually for a divorce. The attorney is saying the judge will want to know why to pick on over the other? I guess Im having issues on exactly what to say, as appraisers are never going to be exact

 

[litch96]

We used some of the same comps, the other appraiser added some pendings and a couple of larger farms but I think overall the values are relevant to each other.

 

[Terrel L. Shields]

If you admit an element of uncertainty, the opposition jump all over that. A generic answer ditto.

But you can say something along the lines of "It was my OPINION, that Sale X was the most similar to the subject because (it was the most -proximate, similar, recent) sale, and, hopefully, you did the cost approach as support and can say "The CA provided support for that assessment."

In facing a similar situation, the judge split the difference and went on.

 

[litch96]

Ok there would be no cost approach as this is a farm appraisal, the attorney say no they will not split the difference, because that is what I thought as well.

 

[Terrel L. Shields]

Ok there would be no cost approach as this is a farm appraisal

Meaning what? No improvements, just farmland?

 

[litch96]

no none just farm ground. my appraisal and the other are $300 difference in per acre value.

 

[Flakey]

I would decline to make that determination.