• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Can A Certified Res Appraiser Appraise A Boat Slip?

Status
Not open for further replies.

VolcanoLvr

Senior Member
Joined
Oct 30, 2003
Professional Status
Certified Residential Appraiser
State
Washington
It's a privately owned boat slip in a condominium ownership marina?

The assignment is for estate purposes. (I declined it, but let others know about it.)

Some people have written me (privately) that only a Cert. General can do this kind of assignment.

Really? Who, or what, says that is so??
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
Yes you can. Do cost approach and look at rents and sales. Yes you can.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
The AQB publishes the qualifications criteria and scope of practice for each level of licensure. From your description the property rights to be appraised are not either a 1-4 residential property or land suitable for 1-4 units, so this one appears to be outside the AQB-defined scope of practice for that license.

With that said the states effectively manage and enforce their licensing programs so it would be the state that is the arbiter of whether a CR performing this assignment would be allowed to do so without getting into trouble for it.

Compliance with the Competency Rule might present a bigger challenge as far as returning the acceptable work product. For example, there are some SFR appraisers who are capable of writing an appraisal report without the aid of a form but they're relatively fewer in number.
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
Wouldn't ONE, single boat slip, being an extension of a single-family property be considered part of that property or have a Highest and Best Use to be a part of, or an extension of, a proximate single-family property?

The Highest and Best Use isn't commercial, so wouldn't it then be a residential amenity?
 

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
MCG, Agreed, here we have many residential properties with boat slips (docks) attached to the Land; and may also be included in the Deed rights of use;
that said, doing a Marina, 2 slips or more (we do have small marina's here) would require a commercial appraisal.
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
Wouldn't ONE, single boat slip, being an extension of a single-family property be considered part of that property or have a Highest and Best Use to be a part of, or an extension of, a proximate single-family property?

The Highest and Best Use isn't commercial, so wouldn't it then be a residential amenity?

we have some waterfront properties locally where they have docks/slips however they are on a separate parcel from the house and can be sold, or leased, individually.

what's your take on that?
 

BRCJR

Elite Member
Gold Supporting Member
Joined
Sep 20, 2005
Professional Status
Licensed Appraiser
State
Virginia
we have some waterfront properties locally where they have docks/slips however they are on a separate parcel from the house and can be sold, or leased, individually.

what's your take on that?
Are these parcels contiguous to the "parent" parcel? Is the H&BU to sell or lease that slip parcel or to have and hold with the "parent " parcel?
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
Are these parcels contiguous to the "parent" parcel? Is the H&BU to sell or lease that slip parcel or to have and hold with the "parent " parcel?

non-contiguous. the structures are attached townhouses and there is a road between the slips and the parcels with the structures. i've never personally encountered one (via an appraisal) that sold the slip separately but have seen that happen during my research for comps in the area. i am purely guessing but the use of the slip remains the same regardless of who owns it as there are no restrictions on it's use or access to it (there are spaces for parking along the street on the dock side or the road and the garage and drive for the townhouses are on the rear of the structure while the front faces the water).
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
he Highest and Best Use isn't commercial, so wouldn't it then be a residential amenity?
There are entire condominium marina developments, so based on the description provided by OP the answer to your question in this case your assumption wouldn't fit the property - see below.
It's a privately owned boat slip in a condominium ownership marina?

For all those jumping on the boat slip as part of a residential property band wagon, the answer to that issue is IT DEPENDS. Depending on the body of water and the governing regulation the associated boat slip/dock or other accommodation many not even be real property but is in fact personal property. Keep in mind that regulations differ from market to market. You know that geographic competence thing ...
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks