Value vs Value

[J Grant]

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.

You did the appraisal! So, you should have some rationale for why yours is "better."
-Though "better" sounds like an amateur hour -the verbiage should be more credible and better supported.

I would not attack the other appraisal - I would instead detail more support for my own comp choices, opinions and conclusions.

The judge will get to choose which report they prefer, or they can split the difference - that part is out of your control.

 

[litch96]

I would decline to make that determination.

I guess I am wondering what the opposing counsel will say.

 

[litch96]

You did the appraisal! So, you should have some rationale for why yours is "better."
-Though "better" sounds like an amateur hour -the verbiage should be more credible and better supported.

I would not attack the other appraisal - I would instead detail more support for my own comp choices, opinions and conclusions.

The judge will get to choose which report they prefer, or they can split the difference - that part is out of your control.

Well actually I believe that is where the attorney is going for me to discredit the other report but it is almost impossible as we used the same comps, I guess that is where I am having the conflict

 

[J Grant]

Well actually I believe that is where the attorney is going for me to discredit the other report but it is almost impossible as we used the same comps, I guess that is where I am having the conflict

You do not need to discredit the other report. You can just point out the reasons why, in your opinion, the other appraisal opined lower/higher and is less reliable, such as they used a larger farm comp or pending listings as you mentioned here....then summarize again why your choices and adjustments are well developed - but if you don't know the reasons we can't know them either!


I often have a similar thing when appraising a high-value property. The client orders another appraisal, and I have to defend the differences in value or how it was developed—and they don't even send me the other appraisal! They just say they used this sale or that sale, and you did not. It feels like torture, but I stay professional and do not attack the other person's work.

 

[Surf Cat]

I believe what the attorney wants is more like a cover letter and resume of yourself and your appraisal. I wouldn't mention or even touch the other appraiser's analysis.

Do a write up on yourself on your qualifications and your geographical competency of the area. Then a synopsis of why you chose the comps that you did, as well as the ones you didn't, and how you reconciled to your opinion of value. Sell yourself in other words.

Then let the chips fall as they may. If the judge chooses the other appraisal, oh well, you still got paid. If the judge chooses your appraisal, you're the appraiser King for the day.

 

[J Grant]

My report is better because I am an appraisal god or goddess, and I am never wrong, and I am the best appraiser in the entire universe. And I am humble as well.

 

[TerryRohrer]

With the same comps, the difference has to come down to decisions and methods. Some think pointing out those differences to your client, and the possible ramifications on conclusions, is advocacy. I disagree. If I did something differently than another appraiser, I would hope that was because it matters, and that I could articulate why it matters and why my decisions were correct. This should not be donated time. The few times I have provided this service, I have provided (sometimes by client request) a significant chunk of my library, and spent significant time explaining appraisal methods, etc, as background for understanding.before getting to differences.

 

[Mark K]

$300 per acre is pretty close. Around here that would be about 3% or less.

The difference may be in the adjustments for shape, productivity, topography, or percentages of tillable vs non-tillable/woods, etc. Look at the other report and see where you differed and explain why you think your report is more accurate/credible.

In the divorce cases that I was involved with, the judge would get pretty grumpy is the difference was 5% or less between two appraisals. I've seen a judge call a short recess and strongly suggest that they work it out and come back in 15 minutes with a solution. They always split the difference; no attorney wants to **** off the judge and waste the court's time.

 

[Tom D]

any reports within 5% of each other are 2 very good reports. typically, there seems to be a wider spread in divorce appraisals. 5% in appraising is a statistically tie. there is no better or worse. maybe your qualifications or education are better, but unless you have less adjustments, closer comps, newer sold dates that difference is insignificant.
or get a letter from grant saying you be the best.

 

[shrubberyvaluation]

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.

I don't know the other report so how can I say?