Freddie to Host Multifamily Appraisal Webinar
Freddie Mac will host a webinar June 26 that will highlight upcoming changes to its multifamily appraisal requirements.
Freddie’s new requirements, which take effect July 1, will address tying together an appraiser’s multifamily data with their conclusions. Examples include:
- Tighter guidelines around the use of property condition assessments and environmental report drafts;
- Discussions around local market data in the capitalization rate analysis;
- Elimination of net income multipliers or adjustments to net operating income in the Sales Comparison Approach;
- Supplemental discussion of the risk of reassessment of property taxes including a quantifiable chance of a reassessment; and
- Documentation of the number and type of units the appraiser must inspect.