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First Condo Appraisal

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cynthia howard

Thread Starter
Freshman Member
Joined
Apr 22, 2002
Professional Status
Certified General Appraiser
State
Illinois

I am a new appraiser and this is my first condo appraisal.
I am appraising a unit in a new condo built in 2000 and completely sold.
The comps I have selected are also in new condos built in 2000 and 2001.
Because they are new, the assessor has no square footage or tax info for subject or comps. Where can I go to find the sft on the comps if the MLS does not show it? Any suggestions?
Also, I was not able to track down the legal description from the assessor, the RE agent or the owner. I did get the building legal description from condo documentation. Should I put this in the addendum and state that the subject unit legal description is unavailabe? What do others do?
Would appreciate any help.
Thanks,
Cynthia :?
 

Dave Smith

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Wisconsin
Cynthia:

Perhaps your supervising appraiser can provide you with answers to your questions. It would seem to me that is their responsibility as a supervising appraiser.

Depending on which state you are located in all the information you need should also be recorded in your county records. In Wisconsin the recorded declaration contains the floor plans, unit descriptions, etc., etc., etc. All are recorded, public information, including the sale prices and the actual deed. The deed is the best place to get the legal description of the unit.

Good luck!
 

cynthia howard

Thread Starter
Freshman Member
Joined
Apr 22, 2002
Professional Status
Certified General Appraiser
State
Illinois
Thanks Dave,
I had been emailing my principal but his email was down. I finally did get his assistance. Thanks a bunch for your input.
Cynthia :)
 
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