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The GP Land is a two page form instead of one, allowing for more expanded comment areas and a more complete land appraisal report. No more hassles trying to squeeze large amounts of data into too-small fields.
On the GP Land form, even the title is general purpose! Completely editable, any changes made here are reflected on page 2 of the form (and vice-versus).
A greatly expanded (2.5 rows instead of 1) legal description allows room for properties with very long metes and bounds types of identifiers.
"Market Area" replaces "Neighborhood" as the descriptive term to describe the subject's immediate surrounding area and market. This term is more descriptive and more easily allows the reader to understand that a subject's "Market Area" may extend outside the typical "Neighborhood Boundaries".
A expanded subject identification section in the GP Land form includes more information to accurately summarize and describe the subject.
Borrower is clearly labeled as an optional field on the GP Land, allowing you to use the form for non-lending purposes, or even smaller primary market lending assignments.
An expanded "Project Type" line allows for more accurate and detailed explanation of the parcel in question's development area, including if the project will be subject to HOA dues, etc...
With the new "Existing improvements" fields, you can more accurately describe if the parcel you're appraising is vacant or includes any improvements already, and if so whether those improvements are habitable or not.
New "Value type" fields allow you to easily explain if this appraisal is for "Market value" (most typical) or some other type of value, as well as if the value is current, retrospective or prospective.
The GP Land's assignment section allows you to more accurately and descriptively explain the intention and purpose of the appraisal assignment, helping to reduce appraiser liability and protect intellectual property rights.
Clearly stating the intended use and intended user for the appraisal assignment helps to protect intellectual property rights and reduce liability.
Client-centric entities on the GP Land form make it ideal for non-lending assignment types (divorce, estate & will, eminent domain, FSBO prelisting, etc...), and even potentially small primary-market lending uses.
The "One-Unit Housing" label is editable so that you can change it to something more appropriate depending on your assignment.
Two extra lines in "Present Land Use" allow you to more accurately describe parcels in areas where land use is very broad. For example, you could include "Industrial" and "Vacant" on the extra lines.
An extra blank line allows for a simple additional comment under "Predominant Occupancy" if desired.
An extra blank line allows for a simple additional comment under "One-Unit Housing" if desired.
The addition of a new "N/A" column on the GP Land allows you to clearly indicate if one of the Factors Affecting Marketability do not apply for this appraisal.
"Market Area" replaces "Neighborhood" as the descriptive term to describe the subject's immediate surrounding area and market. This term is
more descriptive and more easily allows the reader to understand that a subject's "Market Area" may extend outside the typical "Neighborhood
Boundaries".
In addition, the Market Area has been laid out in a much easier to read and complete layout. Fields are logically grouped into blocks and labeled
to make it easier for both the appraiser writing the report and the user to read it.
An expanded "Market Area Comments" block replaces separate fields in previous forms, allowing for simpler commenting and giving the author
more room to comment by reducing the number of fields and labels.
Our objective here is to help reduce the likelihood of an author needing to overflow their comments onto an addenda.
When you click into the "Site Area" field, you'll be able to choose if you want your area calculated in Sq. Ft. or in Acres. The GP Land has an extensive set of calculations to allow for much greater flexibility in how you value and adjust land.
Expanded "Zoning Classification" and "Description" fields allow for longer and more verbose zoning identifiers, meaning that the author doesn't have to abbreviate or overflow to an addenda unnecessarily.
New "Uses allowed under current zoning" field allows the author to more accurately describe how the land can be used under it's current zoning classification.
New CC&Rs (Conditions, Covenants, & Restrictions) fields allow authors to comment on any conditions that may affect land usage.
A greatly expanded HBU (Highest & Best Use) section allows an author to more effectively describe the parcel's usage. Previous land forms available drastically reduced the importance and emphasis on these fields.
Because more extensive Hypothetical Conditions and/or extraordinary assumptions may be involved in a general purpose assignment, and because USPAP requires these two uses, "Actual Use" and "Use as appraised" are included to provide better contrast and less ambiguity.
An expanded and improved "Site Description" area allows the author to much more effectively and clearly describe the site elements for the parcel being appraised.
USPAP states that when necessary to create a credible report, the HBU must be summarized. By including the "Summary of Highest & Best Use" on the form, we reduce the likelihood that an author will have to overflow and comment on an addenda.
Added "Frontage" to allow for describing properties by front-footage. This is important for small commercial land lots for example.
An expanded "Off-site Improvements" section allows for more descriptive explanation of site elements, as well as ownership or responsibility.
The "Utilities" section is greatly expanded from previous land appraisal forms, allowing for more in-depth descriptions.
Two free lines in the additional site features section allow for custom descriptions to be added for special assignments and needs.
Inclusion of new utility types "Telephone" and "Multimedia" allow for more descriptive details about the parcel. Multimedia is intended to allow an author to discuss items like CATV, DSL, Satellite, etc... availability.
An "Other site elements" line allows for easily describing with a check box several important features, such as "Underground Utilities", "Cul de Sac", etc... A free field "Other" is also included for special cases.
Inclusion of FEMA flood info fields allow for a quick "at a glance" answer if the parcel is in a flood zone or not.
An expanded "Site Comments" field allows for more discussion on the form, and less in an addenda.
We've designed and copyrighted the GP Series of forms in such a way that will allow any form vendor to reproduce the form as-is, eliminating any competitor excuses that they're not allowed to include the form. They are. For free.
Unique and consistent branding across all our GP Series forms, as well as their supporting addenda and minor forms. This makes for a more "Packaged" and sleek look and feel.