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1004MC for a Condo

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Em Tee, Feb 18, 2009.

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  1. Em Tee

    Em Tee Senior Member

    0
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    When filling out the 1004MC for a condo, do you complete the entire form PLUS the bottom section, or JUST the bottom section. It seems redundant to do both.

    Opinions?
     
  2. Diego Lopez

    Diego Lopez Member

    0
    Sep 11, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I would do both sections, top for the general market, bottom for the project specific market, both affect the subject.
     
  3. George Hatch

    George Hatch Elite Member

    48
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    California
    The condo portion of the grid is pretty easy, just because you'll be dealing with a much smaller set of data. Heck, in many cases the numbers that go in that grid won't be usable for any kind of trend analysis just because the data will be way too thin.
     
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