1025 w/1007

[ZZGAMAZZ]

What is the purpose of the client's instruction to include a 1007 as an addendum to a 1025 for a legal conforming duplex?

 

[Shelgard]

The Purpose Is To Allow The Underwriter/reviewer To Check The Box On Their Review Form. Nothing Else. The Request To Include 1007's And 216's Is Redundant And They Don't Know They Don't Need It.

 

[Lee Lansford]

...

...They Don't Know They Don't Need It.

This, other than capitalizing each word in a sentence, is the correct answer.

OP, you need to correct your client.

 

[gregb]

1025 with an Operating Income Statement (216) is typical. Not the additional 1007 (rental survey) which is included in the 1025.

 

[CANative]

1025 with an Operating Income Statement (216) is typical. Not the additional 1007 (rental survey) which is included in the 1025.

^^^ this ^^^

 

[ZZGAMAZZ]

I completed the 1007 with multi-unit comps--selected from the 1025 rental income section--rather than SFR's, with the written explanation that to use SFR's would create misleading results. Did I mistakenly supersede an embedded cert?

 

[ZZGAMAZZ]

Please see the General AF section for more fundamental questions that I can answer for myself, about the 1025 form.

 

[MZ818]

Use the same data from the 1025 rental page, then add an extra $100 for including the 1007 form. Why turn down easy money, when you are already completing rental data within the report.