Which form best for estate appraisal?

[Fernando]

Which form would be best for estate appraisal - General Purpose report form or AI Appraisal Report Residential form?
Or I can't use it since I'm not a member of AI.

 

[Renee Healion]

Anyone can use the AI. That is the one I use, so I am used to it. Other people use the GP that their software provider created and they are used to that one.

 

[Brian Cooper]

General Purpose

 

[CANative]

I use a non-lender, 1004 look-alike for the front end of the report. I use my own custom set of certs, assumptions, scope of work, identifications of intended uses and users, pasted from Word into a signable comment section for the back end.

 

[Elliott]

Since (as CAN would say) its only a form and what is important is meeting Standards No. 1 and No. 2, I think a great form to use as a basis for meeting Standard No. 1 and No. 2 is the current 1004. Before some of you crap your pants, it is a common form used by millions of consumers for purchases and refinances, while its abbreviations are a little strange, that's not a significant issue because data can consistently be transferred from one common data base. Using page 1 and 2 of the form along with AI's limiting conditions make a great form for estate, dissolution, and consumers who just want to know their 'market value.'

And yes I know some fuddy duddies say not to use it, but never give logical reasons other than pounding the table.

 

[CANative]

 

[nstanbru]

I use a GP form and take out the Definition of Value in the Certs and replace it with the IRS definition.

 

[Elliott]

"The slash (/)—sometimes called a slant, a solidus, a stroke, or a virgule—is a commonly employed symbol in the English language. Whatever you want to call this piece of punctuation, its role in English has greatly changed over time.

The word slash first entered English in the late 14th century as a verb to describe the cutting movement of a weapon, a word derived from the Middle French esclachier, meaning “to break.” The noun form of slash came into the language in the 1500s, but it was not until much later (the 1960s) that the term “slash” was used to represent the (/) symbol we know and love today.

Compare this with “virgule,” which entered English in the 1830s from the French word for “comma.” In medieval manuscripts, a virgule or slash was often used in place of today’s comma. Chaucer notably used virgules to represent caesuras in his Middle English manuscripts. We still have traces of this usage in modern written English; line breaks in poetry and songs are denoted by the slash, often with a space on either side. (Learn more about the comma here.)

Slashes are commonly used to signify alternatives as in “and/or” and “his/her,” and they can also appear in place of the word “and,” as in “She’s a writer/producer/actor.” Slashes are used in abbreviations like “a/c” (account current, air conditioning), “w/o” (without), “w/r/t” (with respect/regard to), and “c/o” (care of, cash order, certificate of origin), and they’re also used in place of the word “per” in phrases like “50 miles/hour.” Additionally, slashes separate numbers in written English as in dates and fractions.

Further uses of the slash have developed relatively recently in the technological sphere. Every URL for every website you visit contains what we call slashes or forward slashes (/), not to be confused backslashes (\), which point in the opposite direction and are primarily used in programming languages. In fact, to distinguish the old slash (/) from the newer technical backslash (\), the term “forward slash” entered English in the 1980s as a retronym, much in the same way that “snail mail” became a term for what was once just called “mail.”

An interesting aspect of this popular symbol is its ability to be verbalized in various ways depending on the context. You can be in a “love/hate” relationship (slash not pronounced), or you can “love-slash-hate” someone (slash pronounced). In the UK you might call this same predicament a “love-stroke-hate” situation. Some English-language writers have fun with the slash, directing their readers to say it aloud by typing out the word “slash” or “stroke” where the symbol (/) would logically belong.

Like many typographic symbols, the slash has found its very own special place in pop culture. Around the mid-1980s when computers started becoming prevalent, the term “slash fiction” emerged in English. Slash fiction is a type of fan fiction, usually appearing on online forums, that pairs two same-sex characters together in a romantic relationship. This genre got its name because oftentimes the characters featured in this sort of fan fiction are separated by a (/) symbol in the title or description of the story. Pride and Prejudice fans out there—if you click on a “Bingley/Darcy” link in a Jane Austen forum, be prepared for what you are about to read."

 

[CANative]

I have always stated in this type of conversation that civilian home owners are familiar with the 1004-style format and that this is why it is a good option as far as reporting forms. Just not the 2005 GSE version which is geared for lenders. And that is why I use a non-lender look-alike or the old 1004 form.

FWIW, I anticipated you using the slash client argument.

 

[Terrel L. Shields]

Narrative makes more sense to me. The home owner may or may not be familiar with forms, especially if using codes or abbreviations. And CPAs or tax attorneys may or may not be familiar with them. To me a narrative is more flexible and you don't get trapped with bad verbiage especially on things involving bank issues or market value vs. fair market value.