Residential appraiser doing mixed use property

[Kevin Mc]

Have any future meetings been scheduled yet?

Yes, Dec.16th Wantagh Inn. That is the only meeting you should be concerning yourself with now....

 

[MBD]

Will the board provide alcohol at the Wantagh Inn?

 

[Kevin Mc]

Will the board provide alcohol at the Wantagh Inn?

Never mind the board, take the train from downtown Brooklyn (it stops right in front of the Inn) and then we won't have to worry bout you getting fitted for bracelets by Nassau Countie's finest.

 

[MBD]

I sent an email to a board member. I'll post the response when I receive it.

 

[Kevin Mc]

I sent an email to a board member. I'll post the response when I receive it.

What does your boss say? I'd be interested in hearing his take on it. I don't think there in any question outside the 5 boroughs, but within city limits things can get pretty skewered.

 

[MBD]

What does your boss say? I'd be interested in hearing his take on it. I don't think there in any question outside the 5 boroughs, but within city limits things can get pretty skewered.

He said that New York is not a mandatory licensing state. Anybody could appraise any property, if not for a federally related transaction.

He knows a board member through the Columbia Society, and I sent him an email.

 

[KenRossman]

He said that New York is not a mandatory licensing state. Anybody could appraise any property, if not for a federally related transaction.

Unless that "anybody" is licensed or certified in NY at which point they agreed to be bound by NY's Title 19 NYCRR requirements for all appraisals regardless whether they are for FRTs or not...

 

[REM sleep]

Mixed-Use

my 2 Cts. - I know this isn't anything new BUT when Chase still had their B/C Arm, they offered a program for mixed-use properties. I appraised hundreds of these properties - up to 4 units - S1, S2 & S3. They considered them primarily residential properties and were completed on 1025 forms. It was never an issue with Chase b/c this was a portfolio'd product.

Although I can competently complete reports for these properties, and I know I am personally qualified to complete reports for these properties, I am not legally allowed to sign off on reports for these properties.

I have good business relationships with several CG's and will always contract or Barter for their services to review and sign off on these reports. I feel it's my responsibility to my client to give them the best report possible and limit my exposure.

The hand writing is on the wall....I must get my CG to really continue growing in this industry.

 

[MBD]

As promised, here is the response:

"New York State is a non license state. Meaning, you do not need to be licensed to conduct/perform an appraisal in NYS. Federally related transactions require a license/certified appraiser.

This is where it gets sticky now - if you are not a licensed or certified appraiser you can not violate USPAP in performing an appraisal. But, if you are a licensed or certified appraiser and are performing an appraisal, that you may not be licensed to do, but qualified as defined by the USPAP competency rule, you must follow and abide by USPAP.

So, in answer to your question, yes as long as the appraiser complies with USPAP. The State Board has recently written a position. requiring all appraisals to be performed by licensed/certified appraisers. This position has been forwarded on in the process of preparation for the opening session of the State Legislature to be considered to be enacted into law.

Hope this helps.

Mike Schlesinger"

 

[James Micozzi]

As promised, here is the response:

"New York State is a non license state. Meaning, you do not need to be licensed to conduct/perform an appraisal in NYS. Federally related transactions require a license/certified appraiser.

This is where it gets sticky now - if you are not a licensed or certified appraiser you can not violate USPAP in performing an appraisal. But, if you are a licensed or certified appraiser and are performing an appraisal, that you may not be licensed to do, but qualified as defined by the USPAP competency rule, you must follow and abide by USPAP.

So, in answer to your question, yes as long as the appraiser complies with USPAP. The State Board has recently written a position. requiring all appraisals to be performed by licensed/certified appraisers. This position has been forwarded on in the process of preparation for the opening session of the State Legislature to be considered to be enacted into law.

Hope this helps.

Mike Schlesinger"

well, that certainly cleared that up :Eyecrazy: