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quick question about 1004mc

Discussion in 'General Appraisal Discussion' started by bruha76, Nov 4, 2009.

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  1. bruha76

    bruha76 New Member

    0
    Jun 13, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Intended user wants an appraisal just to know the opinion of value for his property. Of course I am doing this on a general appraisal form. Does the 1004mc need to accompany this?
     
  2. George Hatch

    George Hatch Elite Member

    83
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    California
    If it's not going to through a conventional lender and your intended users don't have any specific requirements then it's completely up to your discretion.
     
  3. OminousRun

    OminousRun Member

    0
    Oct 6, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Only Fannie/Freddie and FHA require the 1004MC form. Doesn't mean you can't use it to better communicate the appraisal if you wish
     
  4. bruha76

    bruha76 New Member

    0
    Jun 13, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    thanks you. i rarely ever do this form. so i just wanted to make sure.
     
  5. LI-Appr

    LI-Appr Senior Member

    0
    Nov 15, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    I do not include a 1004mc on a gpar. it is not in the SOW. However; you should do a good narrative on market conditions.
     
  6. ValuMan

    ValuMan Junior Member

    0
    May 21, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    How to get out of doing things? The mantra for today's workforce.

    How about considering how helpful it might be for the client if completed correctly - and add it in.
     
  7. Tom Woolford

    Tom Woolford Elite Member

    27
    Nov 20, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida

    :clapping::clapping::clapping:
     
  8. Joyce Potts

    Joyce Potts Elite Member

    6
    Feb 6, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    If your client doesn't require it, don't worry about it. That said, it can be a handy little back up tool to include in your appraisal. The more of those I do, the more I like them.
     
  9. hglenbetts

    hglenbetts Senior Member

    2
    Dec 3, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Michigan
    For every GPR I complete, I go through the paces of the 1004MC and keep it in my work file, then use a narrative (with the ever popular charts and graphs) to communicate the findings.

    I've got it down to about 20 minutes thanks to an in depth Excel program. I even run the program for agents in my real estate office that are concerned about different markets.
     
  10. Lloyd Bonafide

    Lloyd Bonafide Senior Member

    0
    Jan 15, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    For a private party, I would include it only if I wanted to completely baffle the client. :new_scatter:
     
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