Tagged: plat map

Report Observation & Trigger Points - Don't Fall Into a Trap! 10

Report Observation & Trigger Points

Appraisers, this is another essay written about a report I have ‘observed.’ I’ve mentioned before that I “come in contact with” appraisal reports from a variety of sources. Those that I determine have significant issues I write about. Conclusions about the ‘real value’ will be disclosed below. Trigger points for having reports formally reviewed are discussed. I do this because a majority of appraisers do not participate and interact with their peers on a consistent basis, and therefore may not get exposed to items that clients and lenders see in reports, which they question. I believe it’s important to expose items in reports that...

What is Truth or Accuracy for Appraisers? How Do We Find Accuracy? 12

What is Truth or Accuracy for Appraisers?

Are we supposed to be paid truth-seekers? The appraiser is supposed to be accurate. What is “accurate”? Dictionary meanings say accuracy is “the condition or quality of being true, correct, or exact.” Tell the truth. Can it be? Hmmm. A search for truth. OK. So how do we come to know the truth? Are we supposed to be paid truth-seekers? Cool. I read that there are four ways to “know” truth: Tradition, Authority, Insistence, and Science. Wow! Let’s look at these briefly. This sounds serious! Let’s look at USPAP and The Appraisal of Real Estate. Appraisers have long been steeped in the...

Site Size Correction Notices From AMC Amateurs 10

Site Size Correction Notices

AMC’s who demand you change site size in reports are amateurs… Appraisers, Yesterday, an appraiser ‘pen pal’ sent me the query below, asking what I would do. My response follows. I admit to having a very low tolerance level for stupidity and demands from others who don’t possess all the facts, and most often are not appraisers. The query: “Over the past year with more AMCs going to automated checker software, I have been getting “correction notices” about the site size I reported, almost for every report. So, I changed how I did it so it would stop coming back, but...

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