Appraiser

[Dan Johnson]

Have a lender that wants me to appraise 10 acres out of 28. Can I do that on the Fannie 1004. Seems like I read somewhere that we can't anymore without a survey or legal. Is that a Fannie/Freddie issue or USPAP.

Thanks

 

[OSU Beavers]

Fannie/Freddie do not take hypothetical conditions like that.

 

[CANative]

It took me 4 days to hitch-hike from Saginaw. During that time I learned that appraising portions of properties for lenders was not cool because it is misleading and Fannie and Freddie frown on it.

 

[Mr Rex]

Which 10?

 

[JRS at OBX]

Which 10?

If the parcel is mostly square, I like to pick a few acres in each corner.

 

[Riick]

If the parcel is mostly square, I like to pick a few acres in each corner.

As for me, I like to use the perimeter, where the house isn't.

 

[Hamlet]

Which 10?

The 10 with a mule.:new_smile-l:

 

[Hamlet]

If the parcel is mostly square, I like to pick a few acres in each corner.

In Amish country they like the patchwork look.

 

[Michigan CG]

You may appraise 10 of 28 acres all day, all week, all year....for certain clients and the report must be fully detailed using hypothetical conditions and extraordinary assumptions and I would suggest a narrative report. By the way you must disclose this fully in your report, you cannot ignore the larger parcel. But you can't do it for Fannie.

If the parcel is mostly square, I like to pick a few acres in each corner.

Exactly....

 

[Fred]

If the parcel is mostly square, I like to pick a few acres in each corner.

I vote for the doughnut pattern.