Private Condo Appraisal Form?

[monkey525]

For a single family PRIVATE (Non-mortgage) appraisal, I was informed to do the report on a 1004 URAR (Old 1004 form). What about condo? The 1073 form states that this form is for mortgage use. Any advice on which form to use for a PRIVATE CONDO request?

 

[Randolph Kinney]

For a single family PRIVATE (Non-mortgage) appraisal, I was informed to do the report on a 1004 URAR (Old 1004 form). What about condo? The 1073 form states that this form is for mortgage use. Any advice on which form to use for a PRIVATE CONDO request?

ACI has the GPAR forms; 1004, 1073, 1025, land, etc. Wintotal has something similar. There is also the AI form. Take your pick.

 

[Mountain Man]

General purpose, narrative, or a combination... use the first and second page of a form, and write your own SOW, Cert, and Limiting Conditions in a narrative to replace the pre-printed form stuff.

 

[monkey525]

I use ACI and can't seem to get rid of the pre-written addendums after pages 1-2 (on 1073). I guess I should call ACI for that.. Thanks guys for your feeback!

 

[Dave Smith]

Use the ACI gPar-condo (2006) form.

 

[monkey525]

Oooh thanks~

 

[Rich Heyn]

I use ACI and can't seem to get rid of the pre-written addendums after pages 1-2 (on 1073). I guess I should call ACI for that.. Thanks guys for your feeback!

If I understand your post correctly, the "pre-written" addendums that follow pages 1 and 2 are limiting conditions, scope of work statements, area for type and definition of value and the appraisers certifications. This is all very important stuff that you need for liability protection and USPAP compliance.

 

[monkey525]

Yes, these pages should be in the appraisal report at all times, correct? I just need to tweak it a bit to make it "Private Use" not "Mortgage Use"..

 

[Rich Heyn]

Yes, these pages should be in the appraisal report at all times, correct? I just need to tweak it a bit to make it "Private Use" not "Mortgage Use"..

The GPAR forms were specifically designed for non-lending use, as opposed to tweaking the pre-2005 versions of the Fannie Mae forms. While reporting format and content are primarily driven by the intended user, the GPAR forms are suitable for a variety of non-lending assignments.

But remember that you'll need to insert the appropriate value definition and a proper scope discussion, as well as other assignment-specific issues. A good read of SR 2-1 and SR 2-2(b) might be a good idea.

 

[Lloyd Bonafide]

Clickforms has excellent private forms, based on the Fannie forms, plus a certification for non-lender reports.