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A good private form to use?

Discussion in 'Urgent - Help Needed' started by PhysicalDepreciation, Sep 24, 2011.

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  1. PhysicalDepreciation

    PhysicalDepreciation Sophomore Member

    2
    Jun 6, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Rhode Island
    I use Wintotal for my appraisal software. When performing private appraisals for purposes other than mortgage transactions, what form do you prefer? I've used the old 2055 form in the past, but is there anything without all the mortgage verbiage.

    Thanks
     
  2. PropertyEconomics

    PropertyEconomics Elite Member

    0
    Jun 19, 2007
    Professional Status:
    Certified General Appraiser
    State:
    New Mexico
    Look for a general purpose form ... GPAR in some software .... I dont know about wintotal.
    When you find it ... make sure you read it carefully before you start using it. With the GPar forms I have seen you have to add the definition of value (and dont forget to cite the source which is a USPAP requirement) and while the forms look nearly identical there are subtle differences you should make yourself aware of.

    Good luck.
     
  3. Mr Rex

    Mr Rex Elite Member

    114
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Alamode has a whole section of General Purpose forms. One has the look and feel of the old 1004 (pre 05) so it is familiar to most folks. I have used several different versions. The Consumer Short form only includes the Sales Comparison Approach, but is spaced out to 5 pages so its easy for the average person to read and semi-understand. They also have pre-printed Certifications pages for use with the various GP forms, that only require minor tweaking to meet USPAP reporting requirements.
     
  4. Michigan CG

    Michigan CG Moderator Staff Member Moderator

    165
    Nov 1, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Michigan
  5. Dona Roberts

    Dona Roberts Sophomore Member

    0
    Oct 9, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Gpres2

    I use Wintotals General Purpose Residential - GPRES2. Just make sure to include the GP residential certification addendum or your own cert page as the form doesn't have it included. If you use your own cert page, include a Definition of Market Value also, the form by itself doesn't have one!
     
  6. Jo Ann Meyer Stratton

    Jo Ann Meyer Stratton Elite Member

    25
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    I like the AI Residential Report, you can pick and choose which pages of that form you want to use, then add whatever exhibits you prefer. It is kinda of a cross between Fannie/Freddie forms and a ERC report. But the flexability is what I like.
     
  7. residentialguy

    residentialguy Elite Member

    115
    Mar 24, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Minnesota

    I like the A.I. Summary Appraisal Report - http://www.appraisalinstitute.org/education/downloads/AIReportsSummary.pdf

    You don't need to use every page (income, etc)
     
  8. HF Mudd

    HF Mudd Senior Member

    13
    Jul 31, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Agreed - the GPRES2 form is excellent.
     
  9. Obsolescent

    Obsolescent Senior Member

    10
    Jul 6, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Like the others said, use a general purpose form. Make sure you include scope of work, intended users, intended use, definition of market value, certifications, etc.

    You should never use a Fannie form in any way shape or form with private deals. If you should end up in court....you can expect to get hammered because of all the mortgage verbiage. It would behoove you to read the link Michigan CG included in his post.
     
  10. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    240
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Write up a set of narrative templates of your own... look professional.
     
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