New AIC 2018 Appraisal Forms
Information regarding our New AIC 2018 Forms What if a client requires a stand-alone Market Rent Report on a specific property. How do I use the 0118 Form? If a stand-alone Market Rent report on an identifiable property is required, the Market Rent report must comply with the Real Property Appraisal Standard. To comply, AIC Members must: Complete relevant sections of the Full Residential Appraisal Form – 0118 and a Market Rent Addendum. Comparable sales are not required, only comparable rents. *Please note that the one-page Market Rent Addendum alone will not comply with the Real Property Appraisal Standard. Tick off “To Estimate Market Rent” in the Assignment section of the report (do not tick off “to Estimate Market Value”) Indicate that the Market Rent Addendum is attached in the Certification Section Can two values be provided on the 0118 Form for an assignment that requests both an “as-is” value and “as-if-complete” value of a property? Scenario 1: RENOVATIONS- A borrower is seeki