"Immigration Use" appraisal

[Midwest Guy]

IRS Form 561 instructions speak of qualifications of an appraiser, three approaches to value, comprehensive report with details of the subject property, adjustment proceedures, how to run the income approach, even instructions for the cost approach.

 

[Deleted member 77547]

Here is a link, giving a little expanation of why they need this, page 8 of 19.

http://www.uscis.gov/files/form/I-864.pdf

That's exactly the form the guy showed me when I did the appraisal for him. I was going to fetch it from my workfile if Dave didn't get any immediate answers. It was a while ago for me so I was a little fuzzy on the details.

 

[KenRossman]

Shouldn't the Gov't agency requiring the appraisal be an intended user?

 

[Joker]

"Non-lending purposes" is not a sufficient statement of intended use, IMO. Be more specific.

The government agency may very well be an intended user, find out for certain.

Thanks for posting this real world appraisal use(r) example.

 

[Rich Heyn]

More facts are needed to be sure, but it looks at this point like:

Intended use: To assist the client in documenting specified assets with the Department of Homeland Security.

Client and only intended user: Homeowner

DHS is not an intended user.

 

[Mike Garrett RAA]

Does it have to be done in spanish too?

 

[murray stroupe]

Re

Does it have to be done in spanish too?

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Thats extra work/$$, isnt it??;
my bilingual dictionary costs more.

If he or she is Dutch, skip the spanish,Mike

 

[Midwest Guy]

Does it have to be done in spanish too?

 

[RitaB]

A friend of mine did this type of appraisal recently. Anyone have any ideas regarding who or how to market for more of this type of work? Seems worth exploring.

 

[VolcanoLvr]

Mike G....I didn't ID the 'foreign language'. It's not Spanish.

Rich H....after looking at the I-864 Affidavit of Support instructions, I believe the Dept. of Homeland Security and other gov't agencies ARE the Intended Users. Form I-864 instructions say that an appraisal can be used to verify the net value of a home as an asset (Part 7). The OMV will be provided to them via the form, less any loan balances due against the dwelling.

So...I have decided to include the intended users as: "Appraiser's client"; personal attorney of "Appraiser's client"; agencies of the US Government.

Using the word 'agencies' does not restrict the report from being used by any applicable government department that needs to use the I-864 Form in order to process the application.