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100 Questions on Direct Examination - McKissock Learning

100 Questions on Direct ExaminationBy WALSTEIN SMITH, JR., Waco, TexasMr. Smith has engaged in real estate ap praising since 1953 and became a Senior member of the Society in 1960. He was se lected Realtor of the year for 1960 by the Waco real estate Board. An instructor of many aspects of business and real estate , he has done appraisal assignments for several government agencies, as well as insurance companies, school districts, and private cor porations. Mr. Smith was a member of the City Commission of Waco, and served as Mayor Pro-Tern,, chairman of the Board of Adjustment and chairman of the Tax Ad visory Council. He was graduated from Bay- lor University and served in World War II, emerging as a Captain in the_ Army. His memberships include the Appraisal Institute, the American Business Law Association, and the Texas Bar ideal real estate expert would be an individual who has accumulated a considerable fortune in a reputable man ner through many types of real estate endeavors, including appraising, over a period of many years; also has acquired several college degrees along with many real estate professional designations

and committees related to real es tate activities. 18. Are you a licensed real estate bro ker in this state. 19- Will you name some of the govern mental agencies for whom you have done appraisal work. 20. Will you name some of the private individuals or firms for whom you have done appraisal work. 21. Have you ever been appointed

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Transcription of 100 Questions on Direct Examination - McKissock Learning

1 100 Questions on Direct ExaminationBy WALSTEIN SMITH, JR., Waco, TexasMr. Smith has engaged in real estate ap praising since 1953 and became a Senior member of the Society in 1960. He was se lected Realtor of the year for 1960 by the Waco real estate Board. An instructor of many aspects of business and real estate , he has done appraisal assignments for several government agencies, as well as insurance companies, school districts, and private cor porations. Mr. Smith was a member of the City Commission of Waco, and served as Mayor Pro-Tern,, chairman of the Board of Adjustment and chairman of the Tax Ad visory Council. He was graduated from Bay- lor University and served in World War II, emerging as a Captain in the_ Army. His memberships include the Appraisal Institute, the American Business Law Association, and the Texas Bar ideal real estate expert would be an individual who has accumulated a considerable fortune in a reputable man ner through many types of real estate endeavors, including appraising, over a period of many years; also has acquired several college degrees along with many real estate professional designations, in cluding the SRA, MAI, and ASA; has an actor's ability to communicate clearly to his audience; a teacher's ability to ex plain with patience; the endearing hum bleness of a great preacher, and a will ingness to prepare an appraisal and tes tify for a modest kind of expert witness is exceed ingly difficult to obtain.

2 Those not pos sessing the above qualifications must either plan to achieve them or must struggle along with the ones they do opposing counsel will continue to seek out the weaknesses that likely exist. If a person has not been to school he is untrained and non-professional. If he has been to school then he is too the oretical and non-practical. If he is paid a large sum his testimony is dictated by his employer. If he is paid a small fee he very obviously did not do much of an following 100 Questions are not guaranteed to win the case. In many in stances some of the Questions will not be applicable. It is possible that the judge will not permit a few to be answered on the objection of the other side. It is guaranteed, however, that if these ques tions are gone over in a pre-trial confer ence that a better understanding between lawyer and appraiser will exist.

3 They will also serve as a check list for the law yer and the appraiser to avoid overlook ing some items of importance to either the qualifications, the appraisal, or the Questions ON Direct Examination OF real estate EXPERT WITNESS1. What is your Where do you How long have you lived in this What is your primary Do you have other business or pro fessional Do you maintain a full time office offering your services to the What is your business Describe your educational back ground with particular references to real estate How long have you been engaged in making independent fee ap Have you ever taken any appraisal Have you ever taught any appraisal Have you written any articles on appraisal Have you ever appeared before conferences and conventions as a speaker on appraisal To what professional real estate or ganizations do you How are admissions to these organ izations Have you ever held office in any of , 1962317.

4 Have you served on any city boards and committees related to real es tate Are you a licensed real estate bro ker in this Will you name some of the govern mental agencies for whom you have done appraisal Will you name some of the private individuals or firms for whom you have done appraisal Have you ever been appointed commissioner in a condemnation SIDES REPRESENTED22. Have you ever appraised for con- demnors in eminent domain Have you appraised for con- demnees in eminent domain Have you ever bought, built, de veloped, and/or sold realty for your own Have you ever bought, built, or sold property of the type of subject property for your own Have you ever acted as broker in a sale of this type Have you ever bought, built or sold property near the subject property for your own account or as a bro How recently have you performed any real estate service in the gen eral vicinity of Is there anything else you would like to say relative to your qualifi Will you define the terra "apprais al" and "appraisal report.

5 "31. Will you define market Were you employed by X to make a market value appraisal of subject What date were you Did you submit a written appraisal Were you paid by X for making this How long did it take you to com plete the How much were you Do you expect to get paid for the time spent in preparing for this hearing and during this How much do you expect to be Is your fee contingent upon the value estimate reported or upon the results of this Have you any interest in the prop erty under appraisement, either di rectly or indirectly, or any contem plated future Did you receive any assistance from anyone in the making of this ap praisal. If so, Did you make a personal physical inspection of the subject On what date or dates did you make such a physical What was the last date of inspec What did you do in making a physical inspection of the Describe the land and its physical characteristics as to location, width, depth, area, shape, and other fea Describe the topography of the What were the conditions as far as utilities serving the subject loca What were the conditions concern ing What was the zoning of subject UNUSUAL FEATURES52.

6 Did the subject have any particular unusual features that should be brought to the attention of the What is your definition of highest and best What, in your opinion, is the high est and best use of the subject prop Did you draw a plat or have one furnished to you showing dimen sions of the subject Is this a plat which truly represents the dimensions of the land on the date of the taking. (The plan canTHE RESIDENTIAL APPRAISERnow be offered as an exhibit in evi dence.)57. What type of improvements, if any, were located on the subject land on the date of the Did you prepare a construction check list of the What was included in such Is this your construction check list and does it truly represent the items considered by you. (The check list can now be offered as evidence.)

7 61. Did you prepare a diagram show ing outside dimensions and general floor plan of the ACCURATE DIAGRAM62. Is this a diagram which truly rep resents the outside dimensions of the improvements and general floor plan. (The diagram can now be offered as an exhibit of evidence.)63. Did you photograph the improve ments and the site or have some other party photograph the im provements and the Are these photographs truly repre sentative of the subject property as of the How many square feet are in the various Did you make a study of the prob able market value of the subject property based upon cost less de Will you define What kinds of depreciation were involved in the subject Did you discuss the matter of in come, expenses, and values with other owners, tenants, real estate brokers, bankers.

8 And Did you ascertain the income and expenses of the subject Did you investigate the income and expenses of similar competitive Did you make a study of the prob able market value of the subject property based upon the capitaliza tion of net rental Will you define the term "lease hold:"74. is there a leasehold interest in volved in this CAPITALIZATION75. Will you define the term capitali Will you illustrate a capitalization of income Did you make studies as to the probable value of subject property based upon sales of similar type What procedure did you follow in considering sales of similar type Will you define the expression "market comparison approach."80. Have you prepared or are you pre pared to point out on a map the location of properties which have sold and their relative location with respect to subject Will you describe those compara ble sales considered by Did you make an analysis of the neighborhood in which the subject property is Will you describe how neighbor hood influences are related to the subject What is meant by under-improve- ment, over-improvement, and prop er Are there any other matters out side of the subject property that have not been covered.

9 That you would like to discuss which have a bearing on the market value of the subject Would your opinion of the market value of this property be any dif ferent if you were appraising for the other side of this Would your opinion of the market value of this property be any dif ferent if a condemnation was not TO FINAL QUESTIONS88. Have you been able to arrive at an opinion of the market value of the subject property being taken basedJUNE, 1962on your experience, education and What, in your opinion, is the mar ket value of the subject THE CASES OF PARTIAL TAKINGS90. Will you describe the partial tak What in your opinion is the mar ket value of the part being taken (considered as separate land in Texas).92. Will you describe the What, in your opinion, is the mar ket value of the remainder after the taking, considering the im provements to be made by the gov What, in your opinion, is the mar ket value of the remainder imme diately before government con What are die improvements to be made by the government which you Was there severance damages to the remainder in your What is your reasoning for your opinion that there was severance What, in your opinion, was the amount of the severance Did you consider the possibility ofenhancement to remainder.

10 100. What, in your opinion, is the total compensation due the owner in this SUMMER COURSESP rinciples and Techniques of Residential AppraisingLOCATIONSC lark Junior College Vancouver, WashingtonLamar State College Beaumont, TexasPurdue University Lafayette, IndianaBirmingham Center, University of Alabama Birmingham, AlabamaUniversity of Oklahoma Norman, OklahomaDATESJuly 23-27 July 23-27 July 23-27 August G-10 August 13-171 INSTRUCTORSB yron Church Colorado Springs, R. Trowbridge Portland, OregonH. Grady Stebbins San Antonio, TexasWilliam S. Winter Oklahoma City, Okla,Joseph L. Bettendorf St. Paul, MinnesotaF. Gregory Opelka Chicago, IllinoisMax J. Derbes, Jr. New Orleans, A. Weed Cincinnati, OhioWayne D. Hagood Fort Worth, TexasGeorge L. Noah Norman, OklahomaTHE RESIDENTIAL APPRAISER


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