Saturday, September 1, 2018

An Industrial Building Appraisal Done to both USPAP and RICS Red Book Standards














"This appraisal should not be considered a report on the physical items that are a part of the appraised property.  Although the appraisal may contain information about the physical items being appraised (including their adequacy and/or condition), it should be clearly understood that this information is only to be used as a general guide for property valuation and not as a complete or detailed physical report.  The appraisers are not construction, environmental, or legal experts, and any statement given on these matters should be considered preliminary in nature.
24) The observed condition of the foundation, roof, exterior walls, floors, heating system, plumbing, insulation, electrical service, and all other mechanical and constructions based on a casual inspection only and no detailed inspection was made.  The structures were not checked for building code violations, and it is assumed that all building components meet applicable building codes unless so stated in the report.  

Because no detailed inspection was made, and because such knowledge goes beyond the scope of this appraisal, any observed condition or other comments given in this appraisal should not be taken as a guarantee that a problem does not exist.  Specifically, no guarantee is made as to the adequacy or condition of the foundation, roof, exterior walls, interior walls, floors, heating system, air conditioning system, plumbing, electrical service, insulation, or any other detailed construction matters.  If any interested party were concerned about the existence, condition, or adequacy of any particular building or site component, we would strongly suggest that a construction expert be hired for a detailed investigation."





6 comments:

Anonymous said...

and you just outed yourself for a lack of real life experience in the valuation biz....... but, then you only been at it 10-12 years and us old & fat geezers are to stooopid to know what our 30+ years of experience in the litigious US re society has proven.
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But, you don't have a clue as to WHY I make that statement ........... keep up our pompous attitude, as you will need it with you get edumacated in the future on this subject.
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YOU do sound like some of the RE people in Russia than I ran across in the 90's.

Unknown said...
This comment has been removed by the author.
Anonymous said...

I do like your old & fat comment ...... and I remember you from Houston in the 90's as you hit me up for a job when things got hinky.

Anonymous said...

sounds like you've done to much residential and mentally geared toward that........ anyhoo, so you haven't come across any of obama's or hillary's cronies in your research/exposure of the chinese immigration fraud.......... haven't tried the virginia guv, I guess.
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I am assuming you are collecting rewards on your saintly "whistleblowing"
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must be tough being perfect?

Vernon Martin, MSRE, CFE said...

Just to set the record straight, I am 60 years old and have 34 years of commercial appraisal experience. I have never been sued, but I imagine I could have been sued if I had not pointed out the roof defects to the buyer. I started my career in Houston in 1984, so I could have met you in the 80s, not the 90s. What are you so upset about, sir?

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