Registered: 1232979792 Posts: 2,839
Reply with quote #1
How many of us use the following phase in the EOA ...
if found to be false could alter the resulting opinion or conclusion. I have not but I now put it in all appropriate reports. __________________ M. E. "Don't call him a cowboy until you see him ride'
Registered: 1203300129 Posts: 2,674
Reply with quote #2
This statement has been required by the USPAP as far back as my collection goes (2005). There are extraordinary assumptions in every appraisal. Hypothetical conditions are only in a few.
The Comment: "Hypothetical conditions and extraordinary assumptions used in this report may have affected assignment results. (USPAP 2016-17, SR 2-2(a)(xi), lines 747-749)"
Registered: 1348362173 Posts: 321
Reply with quote #3
Maybe use some commentary stating that the appraiser reserves the right to revise the report based upon information that was either not readily accessible or available during the normal course of business. The appraiser will consider all relevant market data, and any new discovery may affect the previous opinion of value.
Not sure where I read that. __________________ O IIIIIIIO