Duplex on a 2055?

[Fernando]

Order bid asking for a duplex on a 2055 with 1007 and 216.
Has anyone does a duplex on a 2055?
Think I'll pass.

 

[Dublin ohio]

2055 is a single family form. So is 1007. How could you possibly do a 216 without a complete interior and exterior inspection. Too many assumptions to be made. You are right to pass

 

[Sadie]

I have done exterior 1025's, but it was not common .

 

[Deleted member 134708]

Order bid asking for a duplex on a 2055 with 1007 and 216.
Has anyone does a duplex on a 2055?
Think I'll pass.

No.....no one has “does”a duplex on a two thousand 55.

You get a pass since English is not your 1st language.

 

[Tom D]

i do 2-4 family on 2055 pre foreclosure appraisals, no big deal. with similar comps it works well enough. you have extra lines at the bottom of the market grid if you need them. be sure to note that it is multi family on the front & market grid because you only have 1 line for room count, which in a way could be misleading. i usually put number of units on the extra line plus the front & market design grid line. i get the same amount for 2-4 family as single family, but i do pretty well with the single families to overlook that.

 

[TMG]

Is there a report/form for a drive by 2-4 units?

 

[glenn walker]

You can do a 2 to 4 on a paper napkin, you just have to add additional supplements, addendums etc. A-exterior on a 2 to 4 is not used to fund loans that are going to be sold to F & F- usually A portfolio lender, making a low loan to value and not selling the loan. So can you do it - YES- YOU develop your value like you would on a 2025, and make sure you have your complete work file. Also make sure your E0mail and engagement clearly asked for a 2055 , I would also include a statement regarding Covid-19 because thats why some lenders are doing these because the tenants do not want appraisers inside their units.

 

[Fernando]

I did an exterior 4 unit on regular duplex form. I note that it was an exterior inspection in report.
I haven't done one on 2055. Wasn't sure if it was proper. I don't want to do it and later client wants to change to regular 2-4 unit form.
Better to pass since many other less complicated orders out there.

 

[sputnam]

There is nothing to prevent you from reporting your exterior only appraisal of a 2-4 family property on the GP form... or... with appropriate comments added... on the 1025. It definitely should not be reported on a 2055.