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Is this a problem? Appraiser puts AS IS and REPAIRED value in report,
Please share your opinions with me. I am asking the appraiser to change a
number of things in the report, and I don't want the appraiser to think
that my requests are capricious or unethical. I want him to see responses
of other lawyers.
Client's property is in disrepair. Which is good because this is bringing
the FMV down. An appraiser was retained to appraise the property for a
motion to value. The appraiser put into the report both AS IS and REPAIRED
value. He is also highlighting the REPAIRED value, by repeatedly writing
d
believe it is damaging because REPAIRED value is irrelevant and could be be
confusing on this critical issue.
1. I am asking him not to highlight REPAIRED value, to take it out of
conclusions, declaration, cover page, etc. Am I right about this?
2. He probably needs to have repaired value in the report. I image that
it is used to derive AS IS value, since he needs to compare subject to
comps and comps are normal REPAIRED houses.
The original report was in September. He just did an update report in
March. The update report is essentially the original report plus an update
which included new 2013 comps.
3. I think that since September 2012 comps are irrelevant to today's
value, they should be removed. Leaving them in could lead the judge to
think that the appraiser's opinion is based at least in part on stale comps.
4. In addition, I think the entire "original report plus update" format
is undesirable because it is less user-friendly than the "updated report"
format. Since we need to give the judge all relevant information and
nothing else, the "updated report" format is needed.
5. The appraiser did not update market overview. I don't think this is
vital, and since I am already raising a lot of issue, I am willing to
overlook this. Am I right to overlook this. Should I ask for an updated
March 2013 overview.
Please share your opinions with me. I am asking the appraiser to change a
number of things in the report, and I don't want the appraiser to think
that my requests are capricious or unethical. I want him to see responses
of other lawyers.
Alik Segal
Alik.Segal@gmail.com
310-362-6157
California Central District
Please share your opinions with me. I am asking the appraiser to change a number of things in the report, and I don't want the appraiser to think that my requests are capricious or unethical. I want him to see responses of other lawyers.
Client's property is in disrepair. Which is good because this is bringing the FMV down. An appraiser was retained to appraise the property for a motion to value. The appraiser put
into the report both AS IS and REPAIRED value. He is also highlighting
the REPAIRED value, by repeatedly writing 320K AS IS, 365K REPAIRED. e REPAIRED value is irrelevant and could be be confusing on this critical issue.
1. I am asking him not to highlight REPAIRED value, to take it out of conclusions, declaration, cover page, etc. Am I right about this?2. He probably needs to have repaired value in the report. I image that it is used to derive AS IS value, since he needs to compare subject to comps and comps are normal REPAIRED houses. The original report was in September. He just did an update report in March. The update report is essentially the original report plus an update which included new 2013 comps.
3. I think that since September 2012 comps are irrelevant to today's value, they should be removed. Leaving them in could lead the judge to think that the appraiser's opinion is based at least in part on stale comps.
4. In addition, I think the entire "original report plus update" format is undesirable because it is less user-friendly than the "updated report" format. Since we need to give the judge all relevant information and nothing else, the "updated report" format is needed.
5. The appraiser did not update market overview. issue, I am willing to overlook this. Am I right to overlook this. Should I ask for an updated March 2013 overview.
Please share your opinions with me. I am asking the appraiser to change a number of things in the report, and I don't want the appraiser to think that my requests are capricious or unethical. I want him to see responses of other lawyers.
-- Alik SegalAlik.Segal@gmail.com310-362-6157California Central District
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