Appraisers' Free Forum

Working on a triplex appraisal for a dissolution of partnership. I use ACI. There doesn't appear to be a GPAR form for Multi Family appraisals. Any suggestions?
Absolutely not using Fannie Mae form, this one may end up in court. Never mind that there are no comps for this property within a 12 month period.

Can you design your own form? Or do a narrative?

That would require extra work... !!!! I foolishly assumed that there was a GPAR form when I accepted the assignment without looking, now I will have to improvise.

Amy - what software are you using? You could utilize the AI form with some "add ins" to assist, if you feel you need to utilize a form.

I'd just do a narrative, that's faster for me since I do so little form work now. But maybe you could use the guts of 2-4 family form, and type up your own SOW, cert, and limiting conditions?

M L wrote:I'd just do a narrative, that's faster for me since I do so little form work now. But maybe you could use the guts of 2-4 family form, and type up your own SOW, cert, and limiting conditions?

That would be my choice as well, Mel. But apparently that is too much work

Well I only do form work, (or have until now) so typing my own from scratch when I know I will probably only do one every 3 years seems like a lot of unnecessary work for the same fee I charge for a form. The bottom line is I haven't had any experience doing narratives and I'm not sure this is the one to play with. Add to that most of my non mortgage related reports end up coming back ordered for a buy out or refi and are redone on a fannie form so using a form makes cloning easier. I like Mel's idea, I may just do that. I don't plan on accepting an order on this property a second time anyway.

Otis, I use ACI software. (Right now)

Amy E. Miller wrote::wink: Well I only do form work, (or have until now) so typing my own from scratch when I know I will probably only do one every 3 years seems like a lot of unnecessary work for the same fee I charge for a form. The bottom line is I haven't had any experience doing narratives and I'm not sure this is the one to play with. Add to that most of my non mortgage related reports end up coming back ordered for a buy out or refi and are redone on a fannie form so using a form makes cloning easier. I like Mel's idea, I may just do that. I don't plan on accepting an order on this property a second time anyway.

Please don't take this as me being snarky, because it is not meant that way (but I am sure it will come out that way )

But where I come from it doesn't matter how long it takes to create a credible and quality report ..... do whatever it takes. Besides, learning to write a narrative can only enhance your career, no?

Yes ,you're right on both accounts. I'm just trying to avoid making it into more than it needs to be at this point. (Making a mountain out of a mole hill)
And I will learn the narrative, but I prefer to do it properly.
As a perfectionist it pains me to attempt something and do it half assed.

Amy E. Miller wrote:Yes ,you're right on both accounts. I'm just trying to avoid making it into more than it needs to be at this point. (Making a mountain out of a mole hill)
And I will learn the narrative, but I prefer to do it properly.
As a perfectionist it pains me to attempt something and do it half assed.

You must be a Taurus

Alamode has a GP 2-4 form. Take that you ACI losers.

Annemieke Roell wrote: You must be a Taurus

I've always thought so, but I'm a June baby, so I must have two faces.... I think the 'other' one comes out along with my Irish temper.

Amy,
It takes a little while to do your first non-conventional form appraisal, but once you type up a SOW, certification, and limiting conditions in Word, you can use them over and again. I don't mind sharing that with you if interested. Nothing proprietary there, just a bunch of canned USPAP stuff. I've done that in the past for non-lender work... used the cover page and guts of the old URAR from my forms software, then used Adobe to import my own typed SOW, cert, and conditions in the report. If you have the full version of Adobe, it works great.

That would be great! Thank you. amy@banyanappraisals.com. I hope you all have a great Thanks Giving and thanks for all your help.
Amy

Amy,
In your spare time (which seems to be all to abundant these days) make friends with Word and Excel (Or OpenOffice). Learn how to use styles in word processors and spreadsheets. Learn to use spreadsheets for analysis, and to create charts of your research results.

Once you've got a handle on how to get the most out of your word processor and spreadsheet, half the work is done. You simply make report templates, and use them over and over: One for SFR, one for 2-4's, one for estates, one for mortgage work, and another for litigation support.

And remember that a narrative report need not be all narrative; you can include table summaries of information where it's appropriate (like support for depreciation, cost, adjustments, etc.).

For a good, basic starting structure, just use the 1004 as a pattern. Discuss the property description and transaction elements first; then neighborhood description, market analysis, site description, and description of improvements. Then proceed to the HBU analysis, and the approaches. Finally, one section for Reconciliation of the Approaches, and another for competency and certification.

The advanced report writing courses AI offers will be a very good aid to understanding all this.