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How to Skin a Cat?

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cwhalstead

Thread Starter
Freshman Member
Joined
Mar 5, 2007
Professional Status
Licensed Appraiser
State
California
I have an opportunity to do six appraisals for an entity in California. All of the appraisals are within my scope and experience level except one, an apartment building. It is a fifty year old, sixteen unit apartment building, no frills, no bells and whistles, nothing out of the ordinary, just an older but still very structurally sound building.

The balance of the appraisals are a SFR and a few duplexes & triplex units. My question would be the following. Can I bid on this job but then sub-contract the apartment building appraisal to another appraiser, one who has the qualifications and skills necessary to appraise the apartment building?

Any ideas on how to skin this cat…? :shrug: Hate to pass this up but want to follow protocol. Thank you!
 

Tom Woolford

Elite Member
Gold Supporting Member
Joined
Nov 20, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Accept everything except the apartment building, and recommend another apppraiser for the apartment, after speaking to him/her to make sure they won't steal the whole deal out from under you.

JMO
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
I would bid the package, disclosing that one item is outside of the certification range, and providing the support that a General certified will do the apartment. That would give you the opportunity to work with the General and get some good experience.
 

Patti Jury

Senior Member
Joined
Mar 23, 2002
Professional Status
Licensed Appraiser
State
Colorado
Bid out the Apartment Complex with the approval of your Client on the basis that you get to tag along and go through the process for learning experience!
Never pass up a chance to learn!
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
Make sure you know how to bid the apartment portion of the assignment. The last thing you want to do is underbid it and not find someone to do it without losing your fees for the other properties.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
Make sure you know how to bid the apartment portion of the assignment. The last thing you want to do is underbid it and not find someone to do it without losing your fees for the other properties.

I agree with Timothy. However, I think I would contact a CG that you can work with and have him or her create the bid for the apartment building. Get his agreement to perform that report then add it to your bid on the remaining properties.

Congratulations! You have just become a mini AMC. LOL
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
cw:

I think this sounds like an excellent opportunity because there are a lot of Generals who don't want to mess with residential!!!

Get someone to bid on that part to you IN WRITING...

Then go ahead and submit yoru entry into the race, you may not only get a winning ticket, but get to ride along on that General work to boot - Go for it!

(I'd put in the bid someplace a proper disclosure to the cleint that you PERSONALLY cannot do the apartment work wiithout subcontracting to an appropriately certified individual!)
 
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