Shed, Hot tub, & such

[Fernando]

If there's personal property like shed or hot tub, do I have to mentioned it in the report.
Same with leased solar panels. They don't add value so why mention them.

 

[glenn walker]

If there's personal property like shed or hot tub, do I have to mentioned it in the report.
Same with leased solar panels. They don't add value so why mention them.

Leased Solar panels because they show on the roof and many owners do not understand we do not give value to leased units so we explain. Sheds and hot tubs mainly same reason so when owner or buyer comes back and says we gave no value its already in your report. All you are doing is front running stips that will come if you dont mention them. And easier when doing the report than a week later. Do it now or do it a week later !

 

[RSW]

Appraiser's are required to identify all PP and state if it is being appraised. Solar panels & propane tanks need to be identified as owned or leased.

 

[Tim The Enchanter]

propane tanks need to be identified as owned or leased.

I'm not gonna mention the 3 BBQ tanks I have to run the BBQ and the Gennie in case of extended power outage.

 

[Fernando]

Leased Solar panels because they show on the roof and many owners do not understand we do not give value to leased units so we explain. Sheds and hot tubs mainly same reason so when owner or buyer comes back and says we gave no value its already in your report. All you are doing is front running stips that will come if you dont mention them. And easier when doing the report than a week later. Do it now or do it a week later !

That's a good point. I forgot the homeowner will be reading the report. Need to keep owner satisfied besides our client.

 

[RSW]

I'm not gonna mention the 3 BBQ tanks I have to run the BBQ and the Gennie in case of extended power outage.

That's not the kind of propane tank I am referring to. 250 to 500 gal. Propane tanks used for fuel to heat or cook.

 

[shrubberyvaluation]

Appraiser's are required to identify all PP and state if it is being appraised. Solar panels & propane tanks need to be identified as owned or leased.

We are supposed to identify every trinket and toothbrush in an occupied property and state whether or not it is in the appraisal? That seems a bit overkill. I'm not going to note every piece of personal property. If that is wrong so be it. I note personal property sheds, solar panels, above ground pools etc.

 

[Mike Ault]

Appraiser's are required to identify all PP and state if it is being appraised. .

Not trying to be snarky but could you clue me in as to where you came up with this "requirement"? That sounds like a pretty "open ended" task that I need to be charging extra for. My appraisals prominately state "Appraisal of Real Property" on the first page in case anybody is confused.

 

[RSW]

Not trying to be snarky but could you clue me in as to where you came up with this "requirement"? That sounds like a pretty "open ended" task that I need to be charging extra for. My appraisals prominately state "Appraisal of Real Property" on the first page in case anybody is confused.

USPAP: Standard 1. This is what is in the 2016-1027 book:

 

[Mike Ault]

Thanks for the reply! From what you posted it only appears that a declarative statement must be made if you're planning on including personal property in the value, not personal property present on the premises but excluded from your appraised value. Seems like "scope creep" to me. Plenty of expensive horses present on properties that I appraise on a regular basis that I never felt obligated to mention unless the HBU was a commercial "Horse Boarding Resort". If it's a storage building on skids ready to blow away in the next strong wind it typically doesn't get mentioned in my appraisals nor the many that I have been reviewing over the past decades. Personal property gets inspected closely for violations of HUD handbook 4000.1 MPR's when doing FHA's and interior pictures of "all storage buildings on the premises" are included for idiot clients that require them. The Mona Lisa nailed to the wall might get mentioned in passing but not required unless I am dumb enough to included it in the value.