1004C Form question

[blue77]

I have a double wide which is a 1 story 72 x 27 (measured). I have competed the sketch which pre fills the GLA into "Section One" of the cost approach. The reviewer is claiming that since this is a doublewide, which is made of 2 sections, that this needs to be broken down on the cost approach page. Is this correct? This doesn't seem possible which my (ala mode) sketching software. If there there are multiple STORIES, then the program will split the stories into sections on the cost approach page. Can anybody shed some light here?

THANK YOU!

 

[Meandering]

You did check replacement costs, and not reproduction costs, correct?


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[blue77]

You did check replacement costs, and not reproduction costs, correct?


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Yes. Replacement costs.

 

[Bobby Bucks]

Your software should permit you to break down those sections of the cost approach, ie section one 13.5 x 72 section2 13.5 x 72 it's a bit annoying to do each time, but that is what most clients require

 

[Bobby Bucks]

example on the 1004C form

 

[OSU Beavers]

The problem with ala mode is their sketch program will export the total GLA figure to Section One on the cost approach. You have to manually fill in the 13.5 x 72 for sections one and two on the right and write over the 1944 of section one with 972 then write 972 for section two. If you go into sketch to make changes, for example to add a deck, then the program will overwrite your 972 on section one with 1944 so pay attention.

 

[blue77]

example on the 1004C form

OK. It's weird because I've done several Manufactured Home appraisals for this client and have never been asked about this before. Additionally, McKissock's Manufactured Homes course states for the # of Sections on page 2 of 7 "Select the check box that represents the number of stories that the manufactured home has or will have" I thought this was a typo until I had this situation.

 

[OSU Beavers]

The NADA book for valuations uses sections, which is why they are on the Fannie form.

 

[Bobby Bucks]

OK. It's weird because I've done several Manufactured Home appraisals for this client and have never been asked about this before. Additionally, McKissock's Manufactured Homes course states for the # of Sections on page 2 of 7 "Select the check box that represents the number of stories that the manufactured home has or will have" I thought this was a typo until I had this situation.

I hope I'm understanding correctly what they're asking for. The reason it’s the first time you’ve been asked may be because your previous reports didn’t require the cost approach and most reviewers probably don’t bother to even glance at that particular part of the form, but only look at the sketch GLA, the GLA in the improvement section and in the grid. I break it down into section 1 and section 2 even if I’m not developing a cost approach. If they didn’t require the cost approach and you have the correct GLA in the sketch, improvement section and the grid, they’re making an issue out of it, it’s an anal reviewer IMO.

 

[blue77]

I hope I'm understanding correctly what they're asking for. The reason it’s the first time you’ve been asked may be because your previous reports didn’t require the cost approach and most reviewers probably don’t bother to even glance at that particular part of the form, but only look at the sketch GLA, the GLA in the improvement section and in the grid. I break it down into section 1 and section 2 even if I’m not developing a cost approach. If they didn’t require the cost approach and your have the correct GLA in the sketch, improvement section and the grid, they’re making an issue out of it, it’s an anal reviewer IMO.

Thank you all for the responses! I appreciate it!