How do you define "Occupant"? (Long post)

[KONA]

POST 5, is spot on !!!!!!!!!!

 

[Terrel L. Shields]

His stance is that if you mark "tenant" on the report then "by law the appraiser is required to provide a rent schedule".

That is a lie. Turn it in to HUD and the state board.

 

[ucbruin]

"Occupancy is a "forward looking" field..."....

Look at everyone using common sense when someone stated a "lie"....

 

[glenn walker]

A

Thanks to everyone who took the time to reply and confirm how I viewed the situation. The amount of time wasted on this is insane but since this was caught in a post purchase audit, it must be addressed. As of Friday the appraiser was re-typing the entire report to re-create the file (after I sent them the .xml file), so I am sure it is just a delay tactic to see if the request just goes away.

One more thing the appraiser stated that I forgot to include was that he/she never checks vacant as a house is never vacant because someone is moving into the house so it would never be vacant.

This entire scenario is definitely one for the "cant make this stuff up" file.

A house is never Vacant ? This guy-Gal needs to get the crack pipe out of their mouth my-God if-it burned down the day he inspected it and Fire Marshal reports a Vacant house burned down how would he explain that one. The owner-agents neighbors all know when a house is vacant. This person should not hold a license .

 

[Dublin ohio]

the appraiser stated that I forgot to include was that he/she never checks vacant as a house is never vacant because someone is moving into the house so it would never be vacant.

There appears to be a vacancy between the appraiser's ears.

 

[Tom4value]

If the current occupant is a tenant then you mark, “tenant occupied” even if the buyer is the tenant. I always state how much the rent is and the terms. The comparable rent schedule form is dictated by the client, not the appraiser. If the appraiser determines that the income approach is applicable, then develop it. Keep it in the file and summarize it in your final reconciliation.

 

[DWiley]

.... the appraiser has steadfastly stated that in his 30 years of doing appraisals and even working in litigation that the occupancy is a "forward looking" field and describes how the property is "going to be used". I consulted with several of my trusted local appraisers and all concur that with my believe that I am correct and the appraiser is wrong, but I still would like to know if there is a formal definition of the occupant field within the world of appraisal regulations/training. ....

His stance is that if you mark "tenant" on the report then "by law the appraiser is required to provide a rent schedule".

If the first statement above was correct, then why would the form even have "vacant" as an option? Who purchases a home with the intention of leaving it vacant? There is no logic to the position.

The latter quote is enough to lose all credibility in the claim. Required by law to provide a rent schedule?? Laughable.

The definitive answer lies in the UAD Appendix D, which states with regard to occupancy:

Occupant
The appraiser must indicate whether the subject property is occupied by the owner or a tenant, or is vacant as of the effective date of the appraisal

 

[J Grant]

Occupancy would mean seen or observed or known as of the effective date. We can not know who the future occupants or occupant will be.

Imo though we are not the occupant detective police. How do I know the family in the house are the actual owners? I don't ask to see a photo id. I make an assumption based on what I can see or know or am told. I might question if something appeared different than what I can know.

PS a house can be "vacant", yet have furniture in it, such as a staged house for showing, or they did not remove furniture from home.

 

[BobbyB]

Thanks for all the responses. Just an update...still waiting on the corrected report.