THE "Social Network" for Real Estate Appraisers

Draft copies

There is no discussion yet in this section, so I decided to start one that brings the residential guys out of the woodwork and generally gets them riled up.

How many of you provide your client with a draft copy of the report before providing the final report? It's a good idea because it allows the client to request changes in the report.

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Replies to This Discussion

Permalink Reply by Jeff Smith on November 13, 2008 at 8:36am: At the beginning of the appraisal process you do your "definition of the problem" and "scope of the assignment" which should clearly define what the client is expecting and how the completed report will be presented. If this process is completed competently, there should be no reason for a "draft" copy to be sent.
Completeing an appraisal report in a clear and concise format which allows the intended user to understand the appraiser's conclusions and reasoning is a requirement of USPAP.

Sending a draft copy to the client and allowing them to dictate your completed work and "molding" the report to fit thier needs is, in essence, removing the unbiased objectivity of the indpendent appraiser.; ▶ Reply to This

Permalink Reply by Roger D. Robinson on October 27, 2009 at 5:28am: I would rather not be influenced by the owner. This is what brought on the hvcc.; ▶ Reply to This

Permalink Reply by Cynthia on October 27, 2009 at 8:48am: Joker

I can see why they call you that. It doesnt sound like you do residential work or are very familur with the residential side of appraising. If your doing lender work (you did not talk about WHAT type of residential work and it would vary depending on the intended user) but for lender work, the underwriters are so backed up after mass layoffs that the report waits in line to be "reviewed" by an underwriter for a week or more at times. They already treat any report they get as a "draft" requesting changes that can go to the ridiculous (can you lighten that picture a little, I can see everything but it would look better).

The idea in residential is to clearly understand the scope of work and intended user and do a good job of research and writing. Residential work has a much smaller time frame and if it's lending work even smaller.

So for those that do AMC work that wants 24 - 48 hr turn time, you can try to quit laughing now. Submit a draft first? yeah right.; ▶ Reply to This