Uad Warnings

[Ariba]

How do you get around UAD warnings.

For example: UAD Warning for Area: " Area square footage must be reported in whole numbers plus 'sf' " How does one get around these warnings/fields if the information is not available. This is especially true of new construction. Putting TBD in some fields works. But how about the fields that won't except TBD. Any recommendations are appreciated.

 

[Ahhhh Yeahhhh]

Seriously? You gonna put TBD in the area line?

How about just guessing, do the report based on an extraordinary assumption that your guess is correct. Or, just wait until you have an accurate survey.

If you are going to put TBD in the site area line, then maybe you should put TBD in the opinion of market value line too.

 

[Terrel L. Shields]

This is especially true of new construction

How do you do a new construction without knowing the size of the lot and the size of the building?

 

[Ahhhh Yeahhhh]

How do you do a new construction without knowing the size of the lot and the size of the building?

You just put TBD in the site size and the GLA line. Then on the value line you also put TBD. Badabing badaboom.

 

[Noreen]

How do you get around UAD warnings.

For example: UAD Warning for Area: " Area square footage must be reported in whole numbers plus 'sf' " How does one get around these warnings/fields if the information is not available. This is especially true of new construction. Putting TBD in some fields works. But how about the fields that won't except TBD. Any recommendations are appreciated.

This type of thing must be why reviewers go crazy reviewing others work product. IN MY MARKET AREA (Southern NH & Northern MA), the expectation of thorough Due Diligence includes going to the building department for that jurisdiction and/or the registry for the recorded site plan and documentation for the building permit. We have brokers here that are clueless but our due diligence has got to be more thorough than just the marketing data. Am I missing something here? AND here is another example of why licensing instruction should include a "step by step" Best Practices of Theory and application. I know some states do not allow the information to be as transparent but there has to be a better way.

 

[J Grant]

If you don't know the size of the property, how can you appraise it? Decline the assignment unless you can determine a building size.

 

[residentialguy]

I agree with what the others said. Is this a joke thread?
The future of appraisers: TBD

 

[Bobby Bucks]

If it's new construction and legally built, there is a plot plan or survey somewhere. Getting a copy of it quickly may be another matter entirely. I just delayed an assignment 2 days waiting for one. The listing agent, selling agent, buyer, builder and AMC team leader were howling like macaque monkeys an hour past feeding time, but they didn't get the report until I got the plot. I'm far from being an unreasonable USPAP puke, but no plotty, no site sizey and no report.

 

[OSU Beavers]

What about recreational cabins built on leased land around a mountain lake? The parcel is one big 100 acre tax lot with individual tax accounts for the privately owned cabins. I put 0sf in for Site and UAD balked, but the lender still accepted the report as it was and in-house loan.

 

[Ariba]

Seriously? You gonna put TBD in the area line? How about just guessing, do the report based on an extraordinary assumption that your guess is correct. Or, just wait until you have an accurate survey. If you are going to put TBD in the site area line, then maybe you should put TBD in the opinion of market value line too.

You just put TBD in the site size and the GLA line. Then on the value line you also put TBD. Badabing badaboom.

I agree with what the others said. Is this a joke thread? The future of appraisers: TBD

It always amazes me of the arrogance by some of the posters on this forum. When they can’t provide constructive input they just attack not knowing any of the facts. Positive role models they are not. Now let the attacks begin because that is who they are.

How do you do a new construction without knowing the size of the lot and the size of the building?

If you don't know the size of the property, how can you appraise it? Decline the assignment unless you can determine a building size.

Did the post say anything about building size?

The post was how do you handle UAD warning! Site size was just one example. How about date of prior sale/transfers when there are none.. Assessor's Parcel #, Legal description, etc.