Rent Schedule

[Mike Garrett RAA]

Ask yourself this question...."If I was brought before the state board would my arguement hold water or would I be found guilty, fined, and sentenced to more continuing education and a USPAP course?". Do not reply to this post...just ask yourself that question. I honestly only wish you well.

 

[Phil Rice]

Mike I wish you well too. Honestly.

If I was in North Carolina, there is no telling what they would do. I have never heard of anyone in Colorado brought up on charges for a misleading rent schedule, but that does not mean it has not happened.

 

[Fred]

To the extent that the comparable rent schedule is related to the borrowers credit score (ie, not part of the opinion of value), it is not part of the appraisal, therefore not part of the assignement results, therefore USPAP does not apply.

Just in case this is not confuisng enough, there is a percentage of appraisers who would say a comparable rent schedule IS an appraisal all by itself.

 

[Phil Rice]

Yep I agree.