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Who's Going To Be Reading Your Report?

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Artemis Fowl

Senior Member
Joined
Mar 16, 2004
Professional Status
Certified Residential Appraiser
State
Michigan
Just a friendly reminder.

You never know how someone will use your report - intended use/user notwithstanding.

It might, for example, be used as evidence in a tax appeal.
It might, for example, be reviewed by a judge.
It might, for example, be absolutely shredded and potentially submitted to the state.

So write reports like it matters...

Not like this:
Conclude H&BU as an investment property. Populate grid with single-family. Reconcile that IA is not applicable as typical buyer is not an investor. Include a rent schedule!
 
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Chandler

Member
Joined
Mar 16, 2012
Professional Status
Certified Residential Appraiser
State
Arizona
Going through life with this kind of paranoia that it will be submitted to the state or that you will be sued is not healthy IMO. I write credible reports that meet or exceed the requirements then move on to the next one. Some people spend several more hours adding what I consider "fluff" and it costs them in the wallet.
 

Artemis Fowl

Senior Member
Joined
Mar 16, 2004
Professional Status
Certified Residential Appraiser
State
Michigan
If someone out there happens to be a lurker...they should be a little paranoid right now. Even the borrower called it a hack-job. This is not about fluff.
 

Chandler

Member
Joined
Mar 16, 2012
Professional Status
Certified Residential Appraiser
State
Arizona
If someone out there happens to be a lurker...they should be a little paranoid right now. Even the borrower called it a hack-job. This is not about fluff.
Not following this at all man
 

Chandler

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Joined
Mar 16, 2012
Professional Status
Certified Residential Appraiser
State
Arizona
Ok. What part seems confusing?

Sorry, my first response was in general terms to the first part of your post about writing a report as if it might be submitted to the state or presented to a judge, I wasn't addressing specific example report you mentioned.

I agree with the second part being a poor report that would be picked apart if someone actually read it. Sloppy work and they likely didn't alter some of their "boilerplate".
 

Artemis Fowl

Senior Member
Joined
Mar 16, 2004
Professional Status
Certified Residential Appraiser
State
Michigan
Sorry, my first response was in general terms to the first part of your post about writing a report as if it might be submitted to the state or presented to a judge, I wasn't addressing specific example report you mentioned.

I agree with the second part being a poor report that would be picked apart if someone actually read it. Sloppy work and they likely didn't alter some of their "boilerplate".
Very generous analysis. I wouldn't have said a thing about boilerplate or accidental template mistakes. I guess the value opinion was accidentally way off too because the different approaches would have revealed a significant disconnect. Sorry, the only accident I see is that it got into hands the OA didn't expect.

Knowledgeable readers understand intended use and user. I'm not saying write every report for litigation use...but for God's sake don't assume checkbox monkeys will be the only reader. How this passed any sort of quality control review is baffling.
 
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Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
It could be better thought out & written. If investment property I would think it would best be valued by Income approach period. Otherwise it's not investment grade.
 

Tom4value

Senior Member
Joined
Dec 4, 2016
Professional Status
Certified Residential Appraiser
State
Massachusetts
My favorite line back in the old days when LOs could order appraisal and argue with you. "Oh, come on, man! Just bring it in. No one is going to look at it." I told one LO I was comfortable with, "Is that what you tell your girlfriend when she spots the video recorder in the bedroom?"
 

Michigan CG

Moderator
Staff member
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Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
Going through life with this kind of paranoia that it will be submitted to the state or that you will be sued is not healthy IMO.

The original post cites that the appraiser stated that the highest and best use was an investment property and then reconciled that the income approach was not applicable as typical buyer is not an investor.

Mistake, cloning, sloppiness or stupidity?

The original post is something for many to consider; you never know who will try to use your report. I have been involved in litigation cases like this.
 
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