Request from attorney

[Larry Phillips]

Attorney wants a retrospective exterior only appraisal. Non mortgage related. I know that there is no GPAR exterior only form. Would this assignment need to be a narrative? or is it even possible?

Good morning, Bradford software contains a Non Lender, Exterior Only Residential form. It can also be done as a narrative, as you wish. Best regards

 

[Functional Obs]

Attorney wants a retrospective exterior only appraisal. Non mortgage related. I know that there is no GPAR exterior only form. Would this assignment need to be a narrative? or is it even possible?

I do them all the time; I use Form 100.05 from the AI.

 

[J Grant]

Just state that no exterior inspection was performed in prominent letters regardless of the form.

 

[Sadie]

Don't know why it wouldn't be possible. Similar to current date exterior-only appraisal except you use comps from the retro date. Of course there would be a few assumptions and disclaimers in the report but if that's what he wants, do it, collect the check first and then do it. Always collect check first when dealing with a lawyer that you don't personally know.

Use an exterior-only form or a GP form.

The 2055 is an old form and it doesn't have the for use as collateral verbiage. Also the safer form is the GPAR which has a box on the signature page to specify what type of inspection you did.

 

[Essexfenwick]

Use gpar form

State clearly that no interior inspection was made

End of story

 

[Zoe]

I agree with many here. Don't use the 2055.

Just the fact it is a Fannie/Freddie form could get you in trouble. If you know somebody that does tons of narratives locally, pay them for a copy of their certs and limiting conditions to include with these other forms people have suggested.

Better yet, share this assignment with them. The lawyer (your client) may give you an old report that another appraiser has performed for them on a different property for similar use and user.

You can tweak it enough not to copy the other report verbatim.

 

[Junkyard Dog]

Use the GPAR restricted report form. Then check the exterior only box. Not an issue at all.

 

[Fernando]

You would think if you get the appraised value correct, it doesn't matter what form you use.
Still, get the form that will lower your liability risk from unsatisfied readers.

 

[Terrel L. Shields]

ou would think if you get the appraised value correct, it doesn't matter what form you use.

If in court, you will have every word vetted so the correct value is the least of your worries.

 

[RustyTapeMeasure]

Don't the general forms allow you to specific the scope of work and your own assumptions and limitations? That is the rub with the lending forms.

Yes, a simple answer to the OP.