Appraising a dockominium

[David Sawyer]

Florida Statute 475.611

(i) "Certified residential appraiser" means a person who is certified by the department as qualified to issue appraisal reports for residential real property of one to four residential units, without regard to transaction value or complexity, or real property as may be authorized by federal regulation.


It is clear that the scope of license does not include anything other than 1-4 residential units.

Dennis,
I value your judgement! I need your assistance on where the line is drawn sometimes between residential/ commercial appraisal. I do not mean to get off the subject.

Case #1: 5 acre vacant lot, zoned AG-1 single family. Site is in an area of commercial change. All comps were at time of recent sale similar zoning but later changed to commercial after purchase. In discussions with county zoning dept, a request for change in zoning was automatic. Question, is this residential or a commercial appraisal?

Case #2: Vacant lot zoned multi-family (10 units or less) Typical lot in area has 4 units, some have 6-8 units. Comps are similar zoned, similar size and the option of units could be up to 8 units.

Would you mind addressing both of these as if they are residential or commercial (appraisals)?

 

[Wendy]

David - why don't you start a new thread with the question you just posed? You'll get a better response than having it off-topic in this one.

 

[JRS at OBX]

Alright - I'm just playing devil's advocate here....

If the marina facility does not allow the dockominium to be used for berthing a commercial vessel - only live aboards or personal pleasure craft - and the tax assessor has it as a non-commercial/industrial use........

H&B is recreational??? How is that addressed in the Fla Statues?

Not to mention, if a homeowner wanted to buy a lot next door to their house which wasn't big enough to build on but would make the site bigger (for a bigger yard, whatever) I guess a CR couldn't appraise that either in Florida since the HBB isn't for a 1-4 family residence.

I don't know how parking is in Miami or any of the big city's in Florida, but if you could buy a parking space for 1 car, that would not be allowed either?

I bet this is one of those areas where one instructor will tell you one thing while another instructor will tell you another.

 

[Wendy]

JRS - that's my take on it too.

(and for the record - I'm talking about wet slips when I type dockominium. That would be opposed to a rackominium which is a whole 'nother and equally ambiguous ball of wax!)