which form?

[Ron Little]

Hi Guys,

I may be doing an assignment for a 6-unit apt for estate purposes. Do I use the 71b?

 

[Mike Kennedy]

License Scope consideration: Does CA permit a Licensed Appraiser to appraise more than a 4 unit property?

 

[Ron Little]

sorry, my status has since been upgraded to certified... have not updated my profile

 

[Mike Kennedy]

CONGRATS. send email to Wayne to upgrade. (a cya post above).

Generic report form or NARRATIVE would be applicable. (unsure what software you use).

 

[Ron Little]

i have wintotal

 

[CANative]

Are you able to do this appraisal under your AR (certified residential) license because it is not federally related?

 

[Michigan CG]

Six unit property I would do narrative, and include cap rates as well as GRM's.

 

[The Warrior Monk]

Six-unit properties fall under the scope of practice of a general-certified appraiser.

I may be doing an assignment for a 6-unit apt for estate purposes. Do I use the 71b?

Nope...71b is specifically for 1-4 unit properties and specifically for lending purposes. There is way to much verbiage in that form that is misleading for this assignment type.

I don't know if there are generic forms for such an assignments. I do all such assignments in a narrative format, and use spreadsheets for analysis and/or forms.

 

[Michael Tipton]

Check your state's regulations

I am licensed by the State of Florida. FREAB defines my license level as follows:

"Certified residential appraiser" means a person who is certified by the department as qualified to issue appraisal reports for residential real property of one to four residential units, without regard to transaction value or complexity, or real property as may be authorized by federal regulation.

Unless I associate with a CG licensee, a 6-plex appraisal is outside of my license level. Check your state regulations for the license level requirements for a 6-plex.

 

[Mike Boyd]

In California, this assignment would have to be signed by a certified general. 4 units max for a certified residential unless it is under $250,000 and non-complex.