• Welcome to AppraisersForum.com, the premier online community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Change in GLA from Plans & Specs

Status
Not open for further replies.
Mike Kennedy said:
Do you not review your own postings and adjust them? Tisk.:rof:


Will the New Higher Value "concur" with the original report? Is the subject STILL the original subject? tisktisk.


Will Fannie accept a NEW value on a 1004D? (no). Will a lender who intends to sell the Loan to Fannie? (no).
Click to expand...


The part you deleted Mike went in direct contradiction to your arugment. Sorry I dont edit like that ... so its either true that it can "certify a value not less than" or it isnt true that it can do that. If the verbage was originally correct than the edit is not complete.
 
PropertyEconomics said:
The part you deleted Mike went in direct contradiction to your arugment. Sorry I dont edit like that ... so its either true that it can "certify a value not less than" or it isnt true that it can do that. If the verbage was originally correct than the edit is not complete.
Click to expand...

a 1004D must certify the current value is not less than the original value for the subject property as accurately described in the original appraisal report.

That subject and that appraised Value (per Cathys' anticipated statement) no longer exist. The Function and Intended Use of the 1004D is to certify the exact original subject WAS built and IS currently worth no less than the original value.
 
And we do the Kennedy green ink dance. Appraisals are 1004's and appraisers can only provide 1004's. I don't need no stinking USPAP, I under stand the 1004 completely.
 
Mr. Dietz had it correct in 18 & 21.
 
Mike Kennedy said:
a 1004D must certify the current value is not less than the original value for the subject property as accurately described in the original appraisal report.

That subject and that appraised Value (per Cathys' anticipated statement) no longer exist. The Function and Intended Use of the 1004D is to certify the exact original subject WAS built and IS currently worth no less than the original value.
Click to expand...


The orignal subject WAS built and added to. The original subject had to be built, first, then added to. The framing of the property she appraised is EXACTLY like that shown on the plans, the footprint is EXACTLY like that shown on the plans. The addition is the finished attic space and the garage / shop. The property was accurately described in the original appraisal report and can accurately be described in its current condition.
I dont have an 1004D in front of me .. does it use the words EXACT ORIGINAL SUBJECT?
 
Mr Rex said:
And we do the Kennedy green ink dance. Appraisals are 1004's and appraisers can only provide 1004's. I don't need no stinking USPAP, I under stand the 1004 completely.
Click to expand...


Still no answers? Somehow, I'm not surprised.
 
I dont have an 1004D in front of me .. does it use the words EXACT ORIGINAL SUBJECT?
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com
Back
Top