71A/71B

[Easy easements]

Hello all. I am new to this forum and looking forward to participating. Does anyone have any leads to obtaining education on the 71A\71B forms? I don't see any books on this topic. Please if anyone can offer a lead it would be helpful. Thanks.

 

[sputnam]

There are no books on the topic, that I know of, because Clients don't want those forms anymore. As for education, in my opinion, none is needed. They are forms. The principles and requirements of development and reporting are no different than with any other appraisal report form.

 

[Easy easements]

Well, that would run contrary to the bid requests that I get which is about 2 per month. There is more to them than meets the eye. Please if one run across your path, please let me know.
Thanks.

 

[gregb]

I have several clients requesting the 71A, on a regular basis. Send me a PM with your email and phone contact, I may be able to assist.

 

[Easy easements]

That great. Im glad you might be able to offer a hand but what is a P.M. other that "evening"? Im new to the Forum. Is it advisable to put a phone number here? Help!

 

[gregb]

PM is private message. Click on my user name to access the PM feature.

 

[Easy easements]

Looks like your profile limits this feature - note message

"This member limits who may view their full profile."

 

[gregb]

Should say "send direct message" because other members are able to send me PM's. Maybe because of your new status on the forum, you are not allowed to send a PM. Off to the gym now, we will sort this out in a bit.

 

[Easy easements]

Good for you have a good work out!
I should go too....

 

[George Hatch]

The form itself is pre-USPAP so there's nothing to contradict WRT whatever housekeeping requirements apply. I use elements of it in my own multi-family form except I have formatted those forms to not use written addenda or extra comps pages as addenda.

I wouldn't use a form on the big projects because they sometimes have too much going on. Just in general it's easier to use a narrative when the problem is complicated. But even the narratives will include elements of the 71a/71b simply due to the nature of the property type.

Kind of interesting that the 71a/71b sales comparisons are not adjustment grids. However you make adjustments to your comps will have to go to an addendum of some sort. We have rent controls in this state which limit rent increases so I use a rent multiplier analysis to equalize between these sales. I don't apply line item adjustments to the comparables, the tenants do it for me. With that said, all RE is local so your mileage may vary.