Residential appraiser doing mixed use property

[Kevin Mc]

So for arguement sake, lets say I get an order for a S4 in Williamsburg that is used for 100% residential (there are100s there like it). That can only be appraised by a CG? Is the tax classification defining the property? or is the usage defining the property?

 

[KenRossman]

IMO, the tax classification is irrelevant. If I was a CR, I would be concerned about the usage and zoning. If the usage is residential but the zoning allows commercial or industrial, I believe a CG would be required for the H & B use analysis. my 2 cts...

 

[Kevin Mc]

IMO, the tax classification is irrelevant. If I was a CR, I would be concerned about the usage and zoning. If the usage is residential but the zoning allows commercial or industrial, I believe a CG would be required for the H & B use analysis. my 2 cts...

Agreed, but H&B use for an area like Williamsburg, in the scenario I described, is most definitely residential (higher rents). So assuming H&B usage is residential would you still say it was only to be performed by a CG? I only ask because given that zoning in so many residential areas throughout the 5 boros is M1 wouldn't that be an issue as well?

 

[KenRossman]

I know you don't want to hear this, but ANYTHING with commercial or industrial/manufacturing (or anything other than residential zoning) requires a CG to do the H & B use analysis, no matter how slam dunk it might appear. If someone were to make a complaint to the board and usage and/or zoning is anything other than residential, you can make book that the result will be a stiff fine and/or worse.

I would highly recommend that anyone regularly doing mixed use either hook up with a CG or get your general certification - it ain't that hard. Plus which, the future prospects for CGs is much brighter than CRs, IMO.

 

[Kevin Mc]

Good advice Ken and rest assured if I get anything remotely close to what we are talking about I will be stopping by for a signature...

 

[MBD]

Still no definitive answer.

 

[KenRossman]

What part of this is not definitive?

http://www.dos.state.ny.us/lcns/pdfs/reanwsltr.pdf

2003-0563 - On March 1, 2004 a Certified Residential Appraiser was fined $750 for appraising a mixed use property which is outside the scope of practice for a residential certification. The appraiser also used an incorrect form.​

If still in doubt, submit a written inquiry to the board for their next board meeting or better yet, go in person and ask during the open discussion period.​

I have no dog in this hunt - I have been a CG since day one...​

 

[Mike Kennedy]

Definitive Answer

Still no definitive answer.

post 8.

a) The scope of practice for a certified residential real estate appraiser is limited to:

 

[MBD]

Have any future meetings been scheduled yet?

 

[Kevin Mc]

post 8.

a) The scope of practice for a certified residential real estate appraiser is limited to:

The question Mike (and this only pertains to NYC where there are very significant grey areas) is an S2-S4 (mixed use) considered in anyway, shape or form a residential property? It is taxed as such but that doesn't answer the question and often many are used as 3-4 family homes (but still maintain a mixed use classification). Murky. It is something we can discuss at great length on the 16th.