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Goodpasture Certified Residential
Joined: 11 Aug 2007 Posts: 937 Location: Pawnee Nation
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Posted: Sat Dec 15, 2007 12:55 pm Post subject: Is this an appropriate comment for page 3 of the urar? |
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"Reading the entire report is essential to understanding the value conclusions, the subject, and the market conditions in the market in which the subject is located. The appraiser cannot be responsible for failure to read and understand the report on the part of the client or any third party attempting to utilize the report." _________________
You should wake up with a smile on your face.....that way you can get it over with early before you have to deal with the world
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TC Certified Residential

Joined: 11 Aug 2007 Posts: 283 Location: Beyond the pail
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Posted: Sat Dec 15, 2007 1:06 pm Post subject: |
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It would carry more weight if typed in all caps.
tc _________________ I like this bored alot.
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Jrs at OBX Certified Residential

Joined: 12 Aug 2007 Posts: 152 Location: Kill Devil Hills, NC
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Posted: Sat Dec 15, 2007 1:41 pm Post subject: |
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Not sure of it is appropriate, but I like the idea. It's a nicer way of say RTFR.
I really like the section of the GP form in wintotal where you tell how many pages the report has. _________________ I bet you do gamble!!
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Otis Certified Residential

Joined: 11 Aug 2007 Posts: 2899 Location: High and Dry
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Posted: Sat Dec 15, 2007 5:34 pm Post subject: |
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Well, it's not inappropriate, that's for darn sure. _________________ Don't believe everything you think
What are they SMOKING?<<Link
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benluby Certified Residential

Joined: 12 Aug 2007 Posts: 1576
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Posted: Sat Dec 15, 2007 9:06 pm Post subject: |
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Makes sense to me. _________________ Whoever thinks herding cats is impossible, has never walked with an open can of Tuna.
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M L Certified General

Joined: 19 Oct 2007 Posts: 699 Location: Georgia (Jaw-juh)
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Posted: Sun Dec 16, 2007 12:13 am Post subject: |
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I'm going to start using that AS my reconciliation!  _________________ Ya can't keep trouble from visitin, but you don't have to offer it a chair.
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Bill Caudell Licensed/Registered
Joined: 03 Oct 2007 Posts: 129 Location: Abingdon, Virginia
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Posted: Sun Dec 16, 2007 7:43 am Post subject: Re: Is this an appropriate comment for page 3 of the urar? |
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| Goodpasture wrote: | | "Reading the entire report is essential to understanding the value conclusions, the subject, and the market conditions in the market in which the subject is located. The appraiser cannot be responsible for failure to read and understand the report on the part of the client or any third party attempting to utilize the report." |
Place similar verbage in the SOW.
State in some form or fashion you wrote the report in a manner the entire report must be read to be understood. State you did not write the report in a manner without reading the entire report the intended user possibly would not understand opinions and conclusions.
Covers what you did and did not do in regards to SOWR.
Just a thought. _________________ Bill Caudell
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Jim Plante Certified Residential
Joined: 11 Aug 2007 Posts: 1584 Location: Selmer, TN
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Posted: Sun Dec 16, 2007 8:57 am Post subject: |
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Yeccch! Third person, passive voice. I'd do it like this: | Quote: | | Reading the entire report is essential to understanding the subject property, the conditions in the market in which it is located, and the resulting conclusion of value. I will not be responsible for either the client or any third party's failure to read the report. |
I agree with Otis: It's not inappropriate. I would, however, leave off the "understanding" part, since you're supposed to include enough information for the client and intended users to understand it. _________________ Jim Plante
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Edd Gillespie Certified General
Joined: 13 Aug 2007 Posts: 2282
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Posted: Sun Dec 16, 2007 9:23 am Post subject: |
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| Jim Plante wrote: | Yeccch! Third person, passive voice. I'd do it like this: | Quote: | | Reading the entire report is essential to understanding the subject property, the conditions in the market in which it is located, and the resulting conclusion of value. I will not be responsible for either the client or any third party's failure to read the report. |
I agree with Otis: It's not inappropriate. I would, however, leave off the "understanding" part, since you're supposed to include enough information for the client and intended users to understand it. |
Well, isn't that the point of the comment? You have to read the report to understand it. _________________ Edd “In the real estate economy, there are no guarantees that reason will prevail in a market where emotions run high and the amount of misinformation runs deep.” Jonathan Miller in The Matrix. So what’s an appraiser to do?
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Donna Jenkins Licensed/Registered

Joined: 12 Aug 2007 Posts: 576 Location: Ohio
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Posted: Tue Dec 18, 2007 7:19 pm Post subject: |
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I think it could be argued that no matter how much information you put in the report, some “intended users” will not understand… Maybe there should be cya that we are not responsible for the level of intelligence of some intended users. _________________ Question with boldness even the existence of a god; because, if there be one, he must more approve the homage of reason, than that of blindfolded fear. - Thomas Jefferson
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mr rex Member
Joined: 11 Aug 2007 Posts: 350
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Posted: Tue Dec 18, 2007 7:53 pm Post subject: |
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I think Ray got busted for repeating that multiple times in his reports. _________________ Appraising, its not all sunglasses and autographs.
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Steve Owen Certified General
Joined: 14 Aug 2007 Posts: 1935 Location: Joplin, Missouri
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Posted: Sun Dec 30, 2007 3:50 pm Post subject: |
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I am in the process of updating all of my textual templates for compliance with 2008-09 USPAP. As I do this, I always look for other areas of improvement. Currently, my Contingent and Limiting Conditions contain the language "The report is to be used only in its entirety," which is part of the "Confidentiality" sub-section. This could use a bit of beefing up and deserves it's own sub-section. Thank you, Greg. _________________ I haven't a particle of confidence in a man who has no redeeming petty vices.
- Mark Twain, a Biography
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Steve Owen Certified General
Joined: 14 Aug 2007 Posts: 1935 Location: Joplin, Missouri
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Posted: Sun Dec 30, 2007 4:13 pm Post subject: |
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Okay. Here's what I came up with. Further comments would be welcome. Edd?
| Quote: | | Entire Document and Changes to Document: The appraisal is to be used only in its entirety, including all Addenda and attachments. Reading and understanding the entire report is essential to understanding the opinions, conclusions, analyses, and other information contained within. The appraiser will not be responsible for incorrect conclusions drawn by any party as a result of reading or accepting copy of only a portion of the report. Conclusions, opinions, and analyses set forth in the report were prepared by the appraiser and/or appraisal firm who will have no responsibility for any unauthorized changes made. |
As I was reading through the first post that Greg made, it occurred to me that there was some possible liability opening up by saying that the appraiser would not be responsible for damage to the client or any third party if they only read part of the report. The other side of that coin is that the appraiser might be responsible to such persons if they do read the entire report. I think that my wording pretty effectively closes that loophole, since most courts would probably not hold an otherwise innocent party responsible for someone's incorrect conclusions (the usual standard is one of negligence... therefore, you could be responsible for someone's incorrect conclusions if you produced a misleading report). But, others may yet come up with a better way to say it. Edd? _________________ I haven't a particle of confidence in a man who has no redeeming petty vices.
- Mark Twain, a Biography
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