1007 a seperate order from the 1004

[HouseWear]

Hello fellow appraisers. Doing a rent schedule(seperate order from the main report) for a property I recent appraised. I want to do this the right way, and be in compliance.

So I would add the scope of work, intended users, and definition and source of market value, and any assumptions that were made with respect to the 1007 form, right?

I am assuming since this is a seperate assingment, a disclosure would also have to be made regarding prior services on the 1004 I just completed.

Any thing I am missing?

 

[gregb]

More than you may need to read, this recent thread is apt-

[url]http://appraisersforum.com/showthread.php?t=194468[/URL]

 

[CANative]

If it's for the same client why not just attach it to the report you sent? Might save a lot of typing and such. You can re-date/re-sign but keep the effective date the same.

 

[Lee Lansford]

I would discuss this with the client as I am inclined to CAN's thinking as to the communication of the 1007.

One thing: Remember to include a definition (and include the source) of "Market Rent" (as it is Market Rent that you are opining to).

 

[HouseWear]

I would discuss this with the client as I am inclined to CAN's thinking as to the communication of the 1007.

One thing: Remember to include a definition (and include the source) of "Market Rent" (as it is Market Rent that you are opining to).

If included with the original report, is there anything other than the definition of market rent and the source I need to include? After reading all the similar threads, and seeing all the different responses, I'm quite confused now.

I am now making some new blurbs up, found some pretty great stuff on here that I wouldn't have thought of.

 

[CANative]

Just use the form if you're attaching it to the original appraisal. If you want, include some sort of definition of market rent. I don't think anyone would find fault if you didn't. This isn't really the same thing as a stand alone market rent assignment and I doubt if more than 1 in a million residential Fannie-style reports have it.

 

[HouseWear]

Thanks for the advise. If only appraising was a little more black and white

 

[CANative]

Step away from Fannie Appraising for a few years and do something other than houses. The gray areas get less grainy.

 

[HouseWear]

Wish it were that easy, I have 6 children to support(we weren't sure what was going on, another one kept popping out every few years). Gotta keep truckin lol.

 

[gregb]

If it's for the same client why not just attach it to the report you sent? Might save a lot of typing and such. You can re-date/re-sign but keep the effective date the same.

No issue with the second engagment for the 1007 dated after the effective date of the original appraisal?