Whats An O&e Form Or Report?

[Rlong]

Client had request for an O&E form, he says he has ordered them before. It is related to another property the clients own not the one that is being mortgaged/appriased.

They are not asking for an appraisal but this "O&E", (he thinks "Occupancy & somthing") reports the market rent and apparently some other data on another property they own. (probably using the income from the other property in their reported income)

Not the Comparable Rent schedule, as I offered this.

Bob in CO

 

[Charles Witt]

Operating Income Statement???????

 

[xm39hnu]

Ask him to fax you an example--one performed on another property.

 

[Ted Martin]

Form 1007 or a 216 I'm guessing. Probably a rental, Income and Expense forms and rental comps. LSI called today needing only a 1007 income and expense form on a property we never appraised. Too busy to call them back so I don't know the fee they would be offering (Other than is half or less of what I would charge them).

 

[Mike Boyd]

I'm betting OIS (operating income statement) as those expenses would affect the income available to qualify for any loan. I use to charge $100 if included with the full appraisal report. I think I would charge $200 for what they are asking for. You need some basic details on the property: How old, room counts on each unit, condition, appliances in each unit, type of roof, taxes, hating and cooling, AND, you should determine it's effective age. I think you should make an inspection to CYA and to do it right. Charge accordingly.

 

[Steve Owen]

There's an easy response anytime one of them throws something like this at you, just say: "The available forms have a lot of different name and nick-names, could you please supply the form number?"

Like the others, I'm betting what they want is an OIS. I would second Mike's statement.