Editor’s Note: At OREP, we see that incorrect measurements are the cause of many E&O claims. Here are some tips on staying out of trouble. How to Report Building Areas Accurately (and avoid measurement mistakes) by Mark S. Langhamer As appraisers and review appraisers, some of us have seen fellow appraisers relying on building area...…
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As appraisers and review appraisers, some of us have seen fellow appraisers relying on building area size data from leases, the local assessor’s offices, property managers, developers, blueprints, etc. The whole key and foundation for an accurate appraisal is calculating the measurements and quantities correctly. Outlined below are a few examples of when problems may…
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