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Building a defendable appraisal report — Part Two
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Wednesday, April 23, 2014
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An appraisal report is often boiled down to a single number: the appraised value.
That number is the crux of the report, of course, but it is far from the only thing of importance in assessing a report’s credibility.
Being able to defend one’s conclusions in an airtight manner, in other words, being able to produce a credible report, is what clients are looking for from the appraisers they work with.
Essentially, being able to craft a defendable report is the calling card of a quality appraiser.
Appraisers who can complete assignments in a timely manner and who have a diverse skillset are sought-after commodities, but if an appraiser’s report cannot hold up under scrutiny, the appraisal report isn’t worth the paper it’s printed on.
Valuation Review talked with Scott Robinson, vice president of the Appraisal Institute, about the four steps that appraisers need to take to ensure they are producing credible reports that can be easily defended. In Part One, Robinson talked about the need to get adequate background on your clients and being geographically competent.
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