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Valuation of property - can we adopt another appraiser's report?
Hello John, I am a little confused about the whole thing but here are my
two cents anyways. Please keep in mind I have not been practicing all that
long.
You've filed your motion to value and it's a contested matter under 9014.
Responses have been filed correct? If for example, the lender responded
with its own appraisal w/ dec from appraiser then that evidence is in. You
don't need to pay their appraiser anything.
You also said that your appraiser has looked at the appraisal. See the
following rule:
Rule 703. Bases of an Experts Opinion Testimony
An expert may base an opinion on facts or data in the case that the expert
has been made aware of or personally observed. If experts in the particular
field would reasonably rely on those kinds of facts or data in forming an
opinion on the subject, they need not be admissible for the opinion to be
admitted. But if the facts or data would otherwise be inadmissible, the
proponent of the opinion may disclose them to the jury only if their
probative value in helping the jury evaluate the opinion substantially
outweighs their prejudicial effect.
Under the rule above, your expert, in this case appraiser, can use the
lender's appraisal as a basis for his testimony.
Is there any agreement between you and the lender where their appraisal
cannot be used in the above fashion?
Sincerely,
Michael Avanesian
Law Offices of David A. Tilem
www.tilemlaw.com
818-507-6000
On Fri, Oct 25, 2013 at 3:31 PM, John D. Faucher
wrote:
> **
>
>
> Hello Listers:
> I have a hearing where I need to value property. Chapter 11. Lender,
> largest unsecured creditor, and debtor all have different interests in
> setting their value.
> The lender has an appraisal. We like it. We also have an appraiser who
> likes the lender's appraisal. Can we present our appraiser as a witness,
> and have him testify about the appraisal done by someone else and why he
> thinks it's accurate?
> Doing so would save a lot of money. The lender's appraiser wants us to
> pay for the whole appraisal; our appraiser would charge us a lot for
> preparing his own report.
>
>
> John D. Faucher
> Faucher & Associates
> *818/889-8080*
>
>
>
Hello John, I am a little confused about the whole thing but here are my two cents anyways. Please keep in mind I have not been practicing all that long.You've filed your motion to value and it's a contested matter under 9014. Responses have been filed correct? If for example, the lender responded with its own appraisal w/ dec from appraiser then that evidence is in. You don't need to pay their appraiser anything.
You also said that your appraiser has looked at the appraisal. See the following rule:Rule 703. Bases of an Experts Opinion TestimonyAn expert may base an opinion on facts or data in the case that the expert has been made aware of or personally observed. If experts in the particular field would reasonably rely on those kinds of facts or data in forming an opinion on the subject, they need not be admissible for the opinion to be admitted. But if the facts or data would otherwise be inadmissible, the proponent of the opinion may disclose them to the jury only if their probative value in helping the jury evaluate the opinion substantially outweighs their prejudicial effect.
Under the rule above, your expert, in this case appraiser, can use the lender's appraisal as a basis for his testimony.praisal cannot be used in the above fashion?
Sincerely, Michael AvanesianLaw Offices of David A. Tilemwww.tilemlaw.com
818-507-6000
On Fri, Oct 25, 2013 at 3:31 PM, John D. Faucher <j.d.faucher@sbcglobal.net> wrote:
Hello Listers:
I have a hearing where I need to value property. Chapter 11. Lender, largest unsecured creditor, and debtor all have different interests in setting their value.
The lender has an appraisal. We like it. We also have an appraiser who likes the lender's appraisal. Can we present our appraiser as a witness, and have him testify about the appraisal done by someone else and why he thinks it's accurate?
The post was migrated from Yahoo.
Hello Listers:
I have a hearing where I need to value property. Chapter 11. Lender,
largest unsecured creditor, and debtor all have different interests in
setting their value.
The lender has an appraisal. We like it. We also have an appraiser who
likes the lender's appraisal. Can we present our appraiser as a witness,
and have him testify about the appraisal done by someone else and why he
thinks it's accurate?
Doing so would save a lot of money. The lender's appraiser wants us to pay
for the whole appraisal; our appraiser would charge us a lot for preparing
his own report.
John D. Faucher
Faucher & Associates
*818/889-8080*
Hello Listers:I have a hearing where I need to value property. Chapter 11. Lender, largest unsecured creditor, and debtor all have different interests in setting their value.
The lender has an appraisal. We like it. We also have an appraiser who likes the lender's appraisal. Can we present our appraiser as a witness, and have him testify about the appraisal done by someone else and why he thinks it's accurate?
The post was migrated from Yahoo.