- Dec 15, 2007
- Professional Status
- Certified Residential Appraiser
My Name is John and I am a Certified Residential Appraiser in California. I am preparing to do a heavy load of appraisals for a company that will be appraising hundreds of forclosure properties either purchased or to be purchased at auction. I have not yet done an appraisal on a foreclosed property purchased at auction so I want to make sure I do everything properly. Does this still go on a 1004 form for SFRs? If not, what form does it go on? If it does go on a 1004 for SFRs are there extra forms I need to include in the report? If yes, what are they? Another appraiser I know just did two appraisals for this company and was told the purpose of the appraisal was for purchase purposes, but that he had to leave the name of the purchaser blank as they did not have a purchaser yet . . . This being the case, is this still an appraisal for purchase purposes? Is this normal? How can I best cover my back? I will be calling OREA on this as well, but I seem to get a different answer from each person I talk to whenever I call them.