Pro-rata shares

[MTM Valuation LLC]

hello ... this is embarrassing lol but I'm a relatively new appraiser... doing my second condo...didn't encounter this on the first one... my subject and comparable all have various % pro-rata share in common elements.... how do we analyze and report the pro-rata shares or data

 

[Fernando]

hello ... this is embarrassing lol but I'm a relatively new appraiser... doing my second condo...didn't encounter this on the first one... my subject and comparable all have various % pro-rata share in common elements.... how do we analyze and report the pro-rata shares or data

I don't. Maybe it's different in Florida.

 

[Artemis Fowl]

Share% has a role in determining each unit's condo fee and other items. I usually see it tied to square footage. Generally, condo owners all share the common elements as defined within the master deed for the development. Shouldn't be an issue unless using comps from other developments. Even then just report the different common elements and adjust as needed for feature differences...ie. this condo development has tennis courts and that condo development doesn't. Share % is unlikely to be an issue for a typical mortgage use appraisal.

 

[sputnam]

hello ... this is embarrassing lol but I'm a relatively new appraiser... doing my second condo...didn't encounter this on the first one... my subject and comparable all have various % pro-rata share in common elements.... how do we analyze and report the pro-rata shares or data

Unless the differences are pretty large, don't worry about it. It's not unusual for different floor plans to have different HOA fees. Just report what the dues are for the subject and each comparable. Couldn't hurt to verify... since MLS listings can be incorrect.