PVT 2-4 Family FORM?

[boshmontro]

Ok, believe it or not, this is the 1st pvt appraisal on a 2-4 family since the new forms came out. What form do you use? If the old 2-4 is used there are an additional 3 listing comps. By leaving these blank and commenting why in scope will make the report just look "unfinished". The AI or GPAR are for single family. The new 2-4 is for lending. What's an appraiser to do?

Any input would be greatly appriciated. Bill B.

 

[Thomas Fiehler]

Why not write it as a small narrative? Much easier for the reader and they don't question every adjustment.

 

[Randolph Kinney]

ACI has the new GPAR 1025 equivalent.

 

[CANative]

Clickforms has non lender versions of all the fannielooking forms.

You could use the new 1025 fannie form but replace pages 4,5,6 with your own certs and assumptions.

You could use the old fannieform and put in the listing comps.

 

[hastalavista]

Why not write it as a small narrative? Much easier for the reader and they don't question every adjustment.

Depending on the client & intended use, I agree.

 

[George Hatch]

You could use the really old 2-page apartment form. It was supposedly designed for 2-12 units. You won't do much more augmentation on that than you will when using a Fannie form.

Whatever you do, write up a different set of limiting conditions, assumptions and Appraiser's Certification. You can start off with what the Fannie forms say and then make changes from there. Say what you mean to say and don't say what you don't mean to say. It's amazing how much less damage control you need to do when you use something that doesn't have the damage to begin with.

 

[boshmontro]

Thanks for the input. I guess I will bite the bullet & do it on the old 2-4 & put in the listings. I wish 20 years ago I would have at least considered commercial appraising. Not as cyclical I wish I had a better understanding of the nuts & bolts (templates) of a narrative. Never did one. I know it's not difficult, but I wouldn't know how to compile one. To late for General Cert but if anyone knows where I could look up a simple narrative format to use as a template in the future, I would appriciate it. I'm sure I would only use it a handfull of times during the rest of my career.

Thanks, Bill B.

 

[George Hatch]

What software package do you normally use?

 

[KenRossman]

SFREP aka Appraise-it aka Residential Appraiser also has a multi-purpose/non-lender version of the 3/05 SRIP-1025 - we use it quite a bit

 

[Tucson Appraisals]

Narrative

I would also suggestion a Narrative, its the most accurate and it is the most convincing argument.