Dave Towne has been an appraiser for 13 years in WA State, and is a member of three appraiser associations. Works in a 'small urban' area, surrounded by open farm lands and forested hillsides in the suburban and rural locations. Assignments vary from waterfront mcmansions to manufactured homes in MH parks, small urban sites to large acreage tracts, and everything in between, with no consistency as to assignment type. Prior experience as a writer since high school, sales of various products for 30 years prior to becoming an appraiser, and believes appraisers should get out of their basements and interact with each other frequently.
This topic is sure to elicit many opinions, both “fer & agin” regarding notifying your lender client about marijuana plant growing prior to completing an appraisal of a property upon which you observe this activity…especially if you see more than the MAXIMUM allowed in your state (see the chart in the article below).
I've had this discussion with Washington State appraisers after our initiative was successfully passed.
This is sorta like dealing with the GSE's UAD stuff............
But it's not really complicated!
Q & C Ratings are ABSOLUTE and don't change from one assignment to the next. Once you 'rate' a property for Quality and Condition, keep that 'rating' in place when the property is used again in successive report(s) .... unless there has been documented and verifiable changes in the interim period.
Some appraisers avoid the AQM hassle by putting the 'new' adjustment on a blank line on the grid, rather than change the rating number in the space above the GLA line.
This is one reason why I DON'T put a FULL SIZE copy of my appraiser license, and E&O Binder page in reports, despite what some clients request. I just tell 'em NOPE, won't do that - because those have nothing at all to do with the loan underwriting.
