Why does the individual condominium unit appraisal report require extensive information regarding the condominium project in which the subject unit is located?

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Because common elements and amenities are essential.

The form on page 1 asks the appraiser to provide an analysis of the manufacturer's invoice if the home being manufactured is new construction. Providing information on the prefabricated nameplate is essential to completing the 1004C form.

"The appraiser must verify the characteristics of the transaction (sale price, date, seller's concessions, terms of sale, etc.) and the characteristics of comparable properties at the time of sale through reliable data sources.

If the conversion of a community housing project or stock cooperative into a condominium has been approved by the required number of owners, trustees, beneficiaries and mortgagees under Section 66452.10 of the Government Code, the certification shall be owner, trustee,

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