"Immigration Use" appraisal

[VolcanoLvr]

A private, non-mortgage, foreign speaking homeowner has had me do a residential appraisal inspection today. Report is due Thursday.

During my interview prior to accepting the assignment, I asked about the 'use' of the report.

He said it's for "immigration purposes," and that his attorney wanted him to get an appraisal on his home. The homeowner is the client - yes, CAD!!

I will use the alm GP Res form, since this is a non-lending assignment.

Is there anything else I should be aware of, or mention in the report? I thought a statement for SOW use would be something like "to be used by the homeowner for non-lending purposes" without mentioning the immigration info.

Thanks for any comments and suggestions. (Never had a request like this b/4)

Have a bang up 4th everybody!

 

[Workbox]

You are appraising the home, not the citizen or alien status of the HO. Be very careful. You GP suggestion and comments work well.

 

[Deleted member 77547]

I did one like this before. I believe my scope of work included something like non-lending purposes for personal portfolio management. The client in my case showed me a letter from some dept. from within the Dept. of Homeland Security wanting an appraisal done. It was a just a straight forward appraisal.

 

[Midwest Guy]

Here is a link, giving a little expanation of why they need this, page 8 of 19.

http://www.uscis.gov/files/form/I-864.pdf

 

[Charles Witt]

I did one once for a fellow who was marrying a Philipino gal and since he was a fisherman, his income was variable by season. he had to prove to the officials that he was credit worthy, etc. I guess it was satisfactory since he got married.

 

[Joyce Potts]

I may be mistaken, but sometimes it makes a difference as the $$ value of assets owned, both here and abroad.

 

[VolcanoLvr]

Jim G...........

The link was perfect, thanks.

Page 8 specifically says real estate assets can be documented by using a recent appraisal performed by a 'licensed' appraiser.

Dave

 

[Midwest Guy]

Yes, however I was hoping for better instructions for the appraiser, for example the IRS gives two paragraphs on what kind of appraisal they want.

You knew they wanted an appraisal!

 

[Blue1]

I would hazard the guess that he has a court date. Maybe over-stayed his visa or something similar. He could be appealing his status. I once had to testify for an employee in the same situation. The court wanted to know if she was a stable employee, etc.

 

[Otis Key]

I've never had to deal with this aspect of the IRS (don't ask). However, I will say only this...............You're appraising the real estate. No specific instructions or "definitions" of market value, the fall back to what you know and why (SOW)! If nothing else, you've covered the "hiney" and you have complied with USPAP.

Just my $00.00000000000001 worth before the "happy hour" (oops - too late). :new_all_coholic: :new_all_coholic: :new_all_coholic: