Can a Residential Appraiser legally appraiser a 10 acre site, that only has a barn with 6 stalls and a 2bed/2bath grooms quarters? The subject is zoned residential acreage, and the area has large home sites, with barns (for horses) and vacant land also. I would like to get some input on this.
Estimation Nation Corporation - Portland, OR
Portland, Oregon Appraiser
If I get a questionable one, I call my state board to clarify.
It sounds to me since it is zoned residential that it might be at the very least a complex property. And if the loan (?) value is stated to be over $250,000, then a certified appraiser would be necessary at least.
I'm also careful to clear that this property is not solely being used for business purposes. If it is, I stay clear, because even though the state might clear it, it is likely that the lender (?) will not.
If all that is cleared, I'd say why not take the challenge.
Is this yours?
(I'm trying to start all my sentences with an 'I' today :-) ) -
Sep 26, 2008 01:02 PM
Douglas Elliman Real Estate - Medford, NY
If it is zoned residential, used residentially, and you are certified, you can appraise it! If you aren't comfortable doing it, don't have the experience, you have 2 choices. Turn down the job because you don't have the experience OR accept the job and get help from someone more experienced it this type of property. Split the fee with them and have them sign the report too. This is the best way to learn!!!
Oct 02, 2008 05:01 AM
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation
I think the fact that you're asking this question suggests maybe you don't feel qualified - and I think you should trust your instincts.
Apr 02, 2009 03:36 AM
Rainer
20,750
20,750
Michael Zollo
Certified Residential Appraiser, South Florida, FH
Comments(3)