InstantForum.NET v4.1.4California Society of CPAshttp://forums.calcpa.org/forums@calcpa.orgWed, 16 May 2012 17:55:11 GMT20http://forums.calcpa.org/Topic53-2-1.aspxYou need a competent appraiser. The comps are not comps. I suspect the attorney used the cheapest appraiser around - a common mistake as the 2nd/3rd reports, at the end of day, cost you more than having a competent, qualified, knowledgable professional handle from the onset.</P><P>I can assist you - please email/call at your convenience</P><P>Best,</P><P>Steve Kerhart MAI CCIM ASA CPA</P><P>949.221.0967</P><P>CELL 949.221.0967Sun, 21 Jan 2007 18:27:13 GMTstevekhttp://forums.calcpa.org/Topic53-2-1.aspxI would suggest that you first contact the appraiser and explain your concerns. Correcting the name of the owner of the real estate is a very simple correction. Additionally, explain your comp concerns. There may be a good explanation, like those are the best comps available for the type property, or the comps are supplemented with an income approach which mitigates the differences. If there isn't a good explanation, then ask the appraiser to reconsider her position and re-work the appraisal if necessary. You can always hire a new appraiser as a last resort.<br><br>Jeff Wolpin, CREA, CCRA, CBA, MBA<br>Accredited Business Appraisals.<br>bizvalu@earthlink.netThu, 16 Feb 2006 13:48:58 GMTJeff Wolpinhttp://forums.calcpa.org/Topic53-2-1.aspxweird... i thought i was logged in - when i posted the above.<P>i am logged in now and it wont let me edit to add my name to the above, so maybe this will do the trick???Wed, 18 Jan 2006 13:38:53 GMTAllmonhttp://forums.calcpa.org/Topic53-2-1.aspxI've been waiting for the appraisal to complete a 706. It arrived yesterday with some flaws. It does not identify that the owner of the property is an LLC, it says the highest and best use is the way its currently being used but determines a value based upon land sold to developers for apartments and single family homes, the *comparables* are all in the county where the appraiser is located instead of in the adjacent county where the property is located and some other problems.<P>When the LLC was formed, the same appraiser was used. She did an analysis of discounts available when less than 100% of the property was transferred and that appraisal was used to support gifts of the property.</P><P>Would you suggest that we go back to square one and hire a new appraiser (the attorney likes this one and may balk) or try to get someone who can use the appraisal as a value for the land, consider the other LLC assets (100k of cash) and do a discount analysis of the LLC?</P><P>:unsure:Wed, 18 Jan 2006 11:07:26 GMTMary Kay Foss