Brooklyn, 10 Family

[Kevin Mc]

It looks to me like you are making assumptions., period.

 

[KenRossman]

I agree with NY Tony...

NY is not a mandatory state, so no license is needed to appraise for non "FRT" properties.

Appraisers who are neither licensed nor certified are not bound to comply with USPAP - I.E. RE brokers, salespeople etc.

IMNSHO, however, once an appraiser becomes licensed or certified in NY (or any "non" mandatory state) they voluntarily agree to be bound by USPAP as well as ALL NY law governing appraisal.

That stands, regardless of whether the assignment is an FRT or not.

Read the license or certification application package you submitted.

 

[Claude From NY]

Naturally after reading the OP title

about a Brooklyn 10 family, the next thing I did was to look at the upper right for the license classification. Mr. Daystar has given no other particulars of an assignment, if any. He could very well be working under a CG or looking up stuff because he has nothing better to do or a host of other possibilities.

 

[The Warrior Monk]

While it is true an appraiser with a credential is obligated to follow USPAP, it is also true that one wouldn't need a GC to sign off in this case. Even if the appraiser is not competent initially to complete the assignment, the appraiser can take the steps necessary to become competent, provided the client agrees.

In my own case, I'm competent to appraise many types of commercial properties, and the vast majority of them are not FRTs. However, as a matter of course, a GC reviews and signs them, simply because I want to use them as experience credits.

 

[KenRossman]

It's not a matter of competence alone...

It's NY Law

http://www.dos.state.ny.us/lcns/lawbooks/re-appraisers.html

RULES AND REGULATIONS
TITLE 19 NYCRR
BOARD OF REAL ESTATE APPRAISAL
PART 1101
SCOPE OF PRACTICE This information is not the official version of the Official Compilation of Codes, Rules and Regulations of the State of New York (NYCRR). No representation is made as to its accuracy, nor may it be read into evidence in New York State courts. To ensure accuracy and for evidentiary purposes, reference should be made to the official NYCRR. The official NYCRR is published by West, 610 Opperman Drive, Eagan, MN 55123, 1-800-344-5009.

§1101.1 Scope of practice for certified general real estate appraiser
A certified general real estate appraiser may appraise all types of real property.



§1101.2 Scope of practice for certified residential real estate appraiser
(a) The scope of practice for a certified residential real estate appraiser is limited to:

• (1) the appraisal of 1-4 family residential units without regard to value or complexity; and
  (2) the appraisal of vacant or unimproved land that is to be utilized for a 1-4 family residential unit without regard to value or complexity, or vacant or unimproved land for which the highest and best use is a 1-4 family residential unit without regard to value or complexity.
  

(b) A certified residential real estate appraiser shall not appraise a residential subdivision, except that a certified residential real estate appraiser may appraise individual properties within a subdivision.

§1101.3 Scope of practice for a licensed residential real estate appraiser
(a) The scope of practice for a licensed residential real estate appraiser is limited to the appraisal of noncomplex 1-4 family residential units having a transaction value of less than $1,000,000 and complex 1-4 family residential units having a transaction value of less than $250,000.
(b) The scope of practice for a licensed residential real estate appraiser includes the appraisal of vacant or unimproved land that is to be utilized for a 1-4 family residential unit or vacant or unimproved land for which the highest and best use is a 1-4 family residential unit. In either case, the scope of practice is limited to the appraisal of vacant or unimproved land having a transaction value of less than $1,000,000.

 

[Daystar]

Otay Boys, everyone take a deep breath. It's not for a federally regulated transaction, I do have a CG who not only signs off but does the inspection.

back to the question, any sales?

 

[James Micozzi]

Otay Boys, everyone take a deep breath. It's not for a federally regulated transaction, I do have a CG who not only signs off but does the inspection.

back to the question, any sales?

found these on Property shark- hope they help

864 Nostrand Avenue- 10 family- Closed 4/20/07

827 Nostrand Avenue- 10 family- closed 4/25/07

1304 Atlantic Avenue- 12 family- closed 10/9/2007

Jim

 

[Daystar]

Thanks Jim, I will check them out.

 

[NY Tony]

I just want to clarify that my comments were only meant to keep someone from making a mistake that could be costly. I know of residential appraisers that have taken on commercial assignments without the experience to complete them correctly.