Quad Plex with an ADU

[bishopsnet]

Hello,

One of the bigger AMCs is asking me to do an appraisal for a quad plex with an ADU. My certified license in California allows me to do 2-4 unit appraisals, however, not sure if this is considered commercial because of the fifth unit. Anyone know the answer?

 

[TerryRohrer]

an accessory dwelling unit (ADU) in California is a secondary residential unit that provides independent living for one or more people.

a standard "Certified Residential Appraiser" in California cannot appraise a property with 5 living units, as their license typically only allows them to appraise properties with 1-4 units; to appraise a property with 5 or more units, a "Certified General Appraiser" license is required in California.

 

[glenn walker]

Call Brea someone may answer the phone...but if you count the ADU as a 5th unit generating income you need a AG license.

 

[George Hatch]

As far as I'm concerned, 5 doors + 5 rents = 5 units, regardless of the semantics being used.

 

[bishopsnet]

Thanks. I told the AMC they might need a Commercial Appraiser for this

 

[sputnam]

It is a multi-family property with five dwelling units. Give it a pass.

 

[Tom D]

It's a slick owner doing what for a better rate. Gee, none of the other 3 units could have been used for a relative, that have to add 1 more unit.
Walk away from this existential threat. You got thinking right, and what if you figure wrong. A bullet to the head will be less painful than the state's fines.
And did the fee include your attorney fees.

 

[Terrel L. Shields]

Heck, I'd want to give it a pass as a CG - I mean where are you going to find true comps...and the fee? What AMC will pay you enough to make $100 an hour?

 

[bishopsnet]

Heck, I'd want to give it a pass as a CG - I mean where are you going to find true comps...and the fee? What AMC will pay you enough to make $100 an hour?

True. I am struggling. I have been licensed two years. Just got my Certified in January. Only made $20k this year. So, I am trying to take every opportunity I can, without taking something I will get into trouble for.

 

[Carnivore]

The state of NC has a significant different position on this. If I can find which newsletter it is I will post it. I really need to post it because the CG's hair might catch fire.

The Major difference has to do with if its for a FRT or not. Let's assume this assignment is for a FRT You can not complete this assignment because it is more than 4 units.

If its not an FRT , you can complete this assignment as long as you can comply with USPAP Rule #2 COMPETENCE

The example they gave was vacant land zoned for 4 units per acre. You can do that assignment regardless of FRT or Not.

If its zoned for five units per acre and is for for an FRT Res Appraiser CAN NOT ACCEPT THAT ASSIGNMENT