Section 18

Project Information

Appendix F-1, page 183

The Project Information section displays if the property is in a project (condominium, cooperative, or condop) or in a PUD. It includes information about mandatory fees, project factors and amenities, their impact to value or marketability, and information specific to cooperatives (if applicable). This section provides space for additional commentary and exhibits.

The display of this section varies depending on whether the property is in a condominium, cooperative, condop, or PUD.

Checkboxes Next to Black Tab#

Checkboxes next to the black tab are populated from the Subject Property section. Only one checkbox can be checked at the top of Project Information.

Project Information

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.000	Planned Unit Development (PUD)	Always required	Yes \| No	Property in a PUD Indicates whether the property is in a PUD. A PUD is a subdivision that consists of common property and improvements that are owned and maintained by a homeowners association (HOA) for the benefit and use of the individual PUD unit owners. A unit owner in the PUD has title to a residential property (parcel and dwelling) and an interest in the HOA that owns or manages the common areas and facilities of the PUD. Notes: - Select Yes when all lot or unit owners are required to have an interest in the HOA managing the PUD common areas and facilities. - Select No if the property is in a condo, co-op, or condop. - A PUD may be comprised of manufactured homes when meeting the definition. - A project or subdivision with voluntary HOA membership must not be identified as a PUD. - Populates from the Subject Property section (3.010).
18.001 18.002 18.003	Condominium Cooperative Condop	Always required	Yes \| No	Property in a Project - Yes (the property is in a condominium, cooperative, or condop) - No (the property is not in a condominium, cooperative, or condop) Note: Property In a Project does not display and populates from the Subject Property section (3.011-3.012-3.013).
18.001 18.002 18.003	Condominium Cooperative Condop	Required if Property in a Project is Yes	Choose an allowable answer from table (Project Legal Structure)	Project Legal Structure - Condominium - Cooperative - Condop Note: Populates from the Subject Property section (3.011-3.012-3.013).

Project Legal Structure (Choose one)

Allowable Answer	Definition / Additional Guidance
Condominium	A project that has condominium ownership rights. Note: If this answer is selected, a checkmark displays in the Condominium checkbox (18.001) at the top of the Project Information section.
Cooperative	A project that has cooperative ownership rights. Note: If this answer is selected, a checkmark displays in the Cooperative checkbox (18.002) at the top of the Project Information section.
Condop	A project that contains a mixture of units, some with cooperative ownership rights and others with condominium ownership rights. Example: - A mixed-use condo building with commercial spaces that are individual condo units, and a residential portion that is a cooperative consisting of individual residential co-op units (all of the residential co-op units together make up one condominium unit). Note: If this answer is selected, a checkmark displays in the Condop checkbox (18.003) at the top of the Project Information section.

General Information#

Project Name and Data Sources#

Project Information: Project Name and Data Sources

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.004	Project Name	Required if the property is in a condominium, cooperative, or condop	Free-form	Provide the legal name of the project in which the property is located, as it would appear in the preliminary title report. Notes: - This information may be obtained from the HOA, client, borrower, or any other reliable source. - If the legal name is unavailable, provide the most commonly used name for the project.
18.005	Project Information Data Source	Required if the property is in a condominium, cooperative, condop, or PUD	Choose one or more allowable answers from the Definition / Additional Guidance column	Sources of data for the Project Information section. - Assessor Record - Builder or Developer - Condominium Questionnaire - Cooperative Board - Cooperative Questionnaire - Data Aggregator - HOA - Land Survey - MLS - Plat Map - Previous Appraisal File - Property Data Report - Property Management Company - Property Owner - Property Tenant - Real Estate Agent - Other (Describe) For reference, see the Statement of Assumptions and Limiting Conditions relevant to data sources and Appraiser Certification 8.

Project Unit Counts#

Report on the unit counts for the project in which the subject is located, not the master or umbrella association.

Project Information: Project Unit Counts

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.006	Total Units	Required if the property is in a condominium, cooperative, or condop	Number	Total number of individual dwelling units in the project. Includes: - Completed units - Planned or under-construction units if the project is not complete - Units held by the developer or sponsor
18.007	Units Sold	Required if the property is in a condominium, cooperative, or condop	Number	Total number of units in the project that have been sold by the developer, i.e., settled sales, conveyed to unit purchasers. - If all units have been sold by the developer, Units Sold would equal Total Units.
18.008	Units for Sale	Required if the property is in a condominium, cooperative, or condop	Number	Total number of units in the project that are currently for sale, whether by the developer/sponsor or resales by individual owners. Includes: - Units listed for sale - Units currently under contract
18.009	Units Rented	Required if the property is in a condominium, cooperative, or condop	Number	Total number of units in the project that are currently rented or available for rent. Includes: - Individually rented units - Units held by the developer or sponsor for rental purposes - Investor-held units - Units rented by a nonprofit
18.009	Units Rented	Required if the property is in a condominium, cooperative, or condop	Yes \| No	Units Rented Estimated: Indicates whether Units Rented is an estimate, such as when offsite mailing addresses are used. Notes: - If Units Rented is unknown or unavailable to the appraiser in the normal course of business, the appraiser must estimate the number of units that are rented. - If Yes, Units Rented displays with a tilde (~).
18.010	Reason Units Rented is Estimated	Required if Units Rented Estimated is Yes	Free-form	Commentary on the reason why Units Rented is estimated, and how the estimated Units Rented was determined, such as offsite mailing addresses vs. actual known rental units.

Mandatory Monthly Fees (HOA, PUD, or Co-op)#

Project Information: Mandatory Monthly Fees

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.011	Monthly Amount	Required if the property is in a condominium, cooperative, condop, or PUD	Dollar amount	Mandatory Monthly Fees: The combined dollar amount of all the mandatory fees, expressed as a monthly amount. Mandatory fees include fees assessed to the subject property for all amenities including those that are not offered to all owners. Only include those fees that transfer upon sale. Examples: - Association fees - Board fees - Monthly maintenance fees Do not include: - Discretionary fees - Special assessments - Fees for private utilities
18.012	Common Amenities / Services Included	Required if the property is in a condominium, cooperative, condop, or PUD	Choose one or more allowable answers from table (Common Amenities / Services)	Common Amenities / Services: Services, features, or facilities available to residents and / or guests of a project, whether leased or owned by the project. Notes: - Include the amenity if its use is specific to project residents and guests. - If there is more than one of the same amenity, such as multiple pools, select the Common Amenity or Service once, and provide details in Project Information Commentary. - Do not include individual unit amenities, as they are captured in the Subject Property Amenities section (14.001-14.004). - Photos or images may be provided for each identified amenity, which display in Project Information Exhibits with the caption "Common Amenity or Service". An additional caption may be provided including the amenity type, location, and any other descriptive information as appropriate. Identify and include details about any leased amenities, including the impact on value and marketability, in Project Information Commentary.
18.012	Common Amenities / Services Included	Required if Common Amenities / Services Included is Boat Slip or Unit Storage	Choose an allowable answer from the Definition / Additional Guidance column	Project Amenity Ownership: The unit's ownership of the amenity (e.g., whether the amenity is assigned to the unit or unassigned and first-come, first-served). - Assigned (designated to a specific unit) - Owned (deeded to a specific unit) - Unassigned (designated to project occupants on a first-come, first-served basis) - Other (Describe)
18.013	Utilities Included	Required if the property is in a condominium, cooperative, condop, or PUD	Choose one or more allowable answers from the Definition / Additional Guidance column	Utilities included in the unit's association fees. - None (No utilities included in the association fees) - Electricity - Gas - Sanitary Sewer - Water - Other (Describe) - Do not include Common Amenities/Services here.

Common Amenities / Services Included (Choose all that apply)

Allowable Answer	Definition / Additional Guidance
None	Note: Choose this answer if there are no common amenities or services.
Airstrip	A shared amenity for the take-off and landing of aircraft that serves the project or community.
Beach	A strip of land separating a body of water from inland areas, typically used for recreation or leisure purposes.
Boat Ramp	A form of access to launch watercraft into the water.
Boat Slip	A docking point on water for storage and / or parking of watercraft. Note: Choose this answer if the boat slip is assigned by the project and included in the mandatory fee.
Building Maintenance	Upkeep and / or repair for all dwellings and structures (e.g., roof, siding, windows, doors, interior common areas).
Built-in Pool	A self-contained and manufactured area built into a structure and designed to be filled with water designated for swimming and other aquatic uses (e.g., rooftop pools or other pools that are not inground).
Business Center	A room or location providing office facilities and services.
Caregiver Services	Service offered to provide support and assistance to individuals in performing tasks of personal or household care.
Clubhouse	A building or area used for social or recreational activities by occupants of the project.
Club Membership	A club membership that is included in the HOA fees (e.g., golf club membership, health club membership).
Community Pier	A private pier owned by the project that gives members access to the waterfront.
Concierge Service Coordination	Assistance with organizing a variety of personal services.
Cooling	Note: Select this answer when the air conditioning / cooling expenses for the unit are provided in common and included in the mandatory fees.
Deck	A platform that is located next to or attached to a structure and is accessible from the structure. Note: Choose this answer if the deck is a common deck available for use by all owners and guests to the project. If the deck is intended for the exclusive use of the subject unit, reference the Subject Property Amenities section.
Door Attendant	An individual providing courtesy and / or security services in a residential building.
EV Station	A system designed to provide on-demand charging for compatible electric vehicles. Note: Choose this answer if the EV Station is considered common area and available for use by all owners and guests to the project. If the EV Station is intended for the exclusive use of the subject unit, reference the Subject Property Amenities section.
Elevator	A mechanized platform used for raising and lowering people or things from one level to another.
Fitness Area	A room, area, or structure specifically designed for exercise or other physical wellness activities.
Gated Community	A community that controls access either through an automated gate or staffed security point.
Grounds Maintenance	Upkeep and / or repair of all outdoor areas not associated with a structure or dwelling (e.g., lawn mowing, landscaping, fencing, gates, irrigation systems).
Heating	Note: Select this answer when the heating expenses for the unit are provided in common and included in the mandatory fees.
Inground Pool	A self-contained and manufactured area built into the ground and designed to be filled with water designated for swimming and other aquatic uses. Does not include pools built into a structure or above-ground pools.
Inground Spa	A structure built into the ground that typically contains hot aerated water and is used for recreational and wellness activities. Note: Water spas that are not inground would be identified using Other (Describe).
Lobby	A common room near the main entrance of a building.
Ongoing Cleaning Services	Cleaning services offered for the upkeep of the unit. Note: Choose this answer if regularly scheduled cleaning services are included in the mandatory fees.
Outdoor Riding Ring	An area open to the elements, typically surrounded with fencing, that is specifically designed for horse riding.
Outdoor Shower	An area open to the elements designed to be used for personal cleaning through the use of flowing water and appropriate drainage.
Patio	A solid surface outdoor area located on the site. Note: Choose this answer if the patio is a common patio available for use by all owners and guests to the project. If the patio is intended for the exclusive use of the subject unit, reference the Subject Property Amenities section.
Playground	An outdoor area for children to play in.
Recreation Area	A room or area designated to be used for recreation and entertainment.
Registration Services	A service offered to short-term renters to facilitate their entry into the property. Note: Choose this answer if the registration services are included in the mandatory fees.
Sauna	A room that is designed to be heated to high temperatures, typically with steam.
Shared Laundry Facilities	An area of a structure containing washing machines and / or dryers that are designated for the cleaning and care of clothing and linens.
Short Term Rental Services	Service offered to owners to market and rent their units on a short term basis. Note: Choose this answer if the short term rental services are included in the mandatory fees.
Sports Court	An area, either open or covered, specifically designed for one or more recreational and athletic activities.
Television or Internet Services	Access to television and/or internet services (e.g., cable, satellite).
Trash Removal	A service that removes trash.
Unit Storage	A room or area designed to secure personal belongings.
Water Access	Access rights for project residents and their guests to waterways or bodies of water. Note: Choose this answer if the water access is commonly available for use by all owners and guests to the project.
Water Frontage	The space or land within the project that is adjacent to or facing a body of water. Note: Choose this answer if the water frontage is commonly available for use by all owners and guests to the project. If the water frontage is intended for the exclusive use of the subject unit, reference the Site section.
Other (Describe)	Select Other to enter an answer that is not in the above list.

Observed Deficiencies#

Project Information: Observed Deficiencies

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.014	Observed Deficiencies	Required if the property is in a condominium, cooperative, or condop	Yes \| No	The appraiser must observe the overall project. - Indicate Yes if there are deficiencies, deferred maintenance, and / or critical repairs that impact the value and / or marketability of the subject property. Note: If a physical deficiency, a photo must be provided, that displays in Project Information Exhibits with the caption "Observed Deficiency". An additional caption may be provided that includes the specific deficiency, location, and any other descriptive information as appropriate.
18.015	Description of Deficiencies	Required if Observed Deficiencies is Yes	Free-form	Provides details and description of observed project deficiencies.

Project Completeness#

**Project Information: Project Completeness**

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.016	Are units, common areas, and amenities in project complete?	Required if the property is in a condominium, cooperative, or condop	Yes \| No	Project Complete: Indicates whether construction of all phases, units, common areas, and amenities in the project are complete. This is specific to projects that have current ongoing construction. Note: If No, the Incomplete Project row (18.065) displays in the Project Factors table and additional information must be provided.
18.017	Subject Property Building Complete	Required if Project Complete is No	Yes \| No	Indicates whether the building containing the subject property is complete.
18.018	Converted in Past 3 Years	Required if the property is in a condominium, cooperative, or condop	Yes \| No	Indicates whether the property has been converted into a condominium, cooperative, or condop within 3 years of the effective date of the appraisal report. Note: If Yes, the Converted in Past 3 Years row (18.066) displays in the Project Factors table and additional information must be provided.

Ground Rent#

Project Information: Ground Rent

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.019	Ground Rent	Required if the property is in a condominium, cooperative, or condop	Yes \| No	Indicates whether the project is subject to ground rent. Do not include individual ground leases applied to the subject property. Individual ground leases are captured in the Subject Property section (3.022) when Property Rights Appraised is Leasehold.
18.020	Annual Amount	Required if Ground Rent is Yes	Dollar amount	Ground Rent Annual Amount
18.021	Expires	Required if Ground Rent is Yes	mm/yyyy	Ground Rent Expires: The month and year when the project ground rent expires as per the lease.
18.022	Description of Ground Rent	If applicable	Free-form	Commentary could include information pertinent to the ground rent that is not captured in the discrete data above, or additional details to support the discrete data that is provided.

Cooperative Information#

Cooperative Information: Share Counts and Proprietary Lease Expiration

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.023	Shares Issued and Outstanding	Required if the property is in a cooperative or condop	Number	The number of shares currently held by all the shareholders. Includes shares held by all project unit owners and by the sponsor and / or developer.
18.024	Shares Attributable to Subject Property	Required if the property is in a cooperative or condop	Number	The number of cooperative shares associated with the subject property.
18.025	Proprietary Lease Expires	Required if the property is in a cooperative or condop	mm/yyyy	The expiration date of the lease agreement that gives a shareholder the right to occupy a dwelling unit.

Cooperative Project Blanket Financing#

Cooperative corporations typically finance the development and upkeep of the project by obtaining one or more "blanket" mortgages or lines of credit. If the property is in a cooperative or a condop, the appraiser must report on project blanket financing. The Project Blanket Financing subsection includes overall information and information about each lien.

Overall#

Cooperative Information: Project Blanket Financing (Overall)

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.026	Project Blanket Financing	Required if the property is in a cooperative or condop	Yes \| No	Indicates whether the cooperative has mortgage financing that encompasses the entire project. - Yes (the Project Blanket Financing table displays) - No (the Project Blanket Financing table does not display)
18.027	Pro Rata Share	Required if Project Blanket Financing is Yes	Percent	Pro Rata Share (Percent): The percentage of blanket mortgage payments that are attributable to the subject unit. Calculated: Shares Attributable to Subject Property (18.024) / Shares Issued and Outstanding (18.023), rounded to 4 decimals.

Information For Each Lien#

If there is more than one lien on the property, report them in the order of the lien position, starting with the first lien.

Cooperative Information: Project Blanket Financing (Repeats for Each Lien)

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.028 18.037 18.046 18.055	First Lien Second Lien Third Lien Fourth Lien	Required for each lien if Project Blanket Financing is Yes	First Lien \| Second Lien \|Third Lien \| Fourth Lien	Lien Priority: The priority of the lien against the property.
Not on Report	This is an appraiser input that does not display	Required for each lien if Project Blanket Financing is Yes	Yes \| No	Line of Credit: Indicates whether the lien is a line of credit.
18.029 18.038 18.047 18.056	Unpaid Principal Balance	Required for each lien if Project Blanket Financing is Yes and Line of Credit is No	Dollar amount	The current unpaid principal balance on the loan.
18.030 18.039 18.048 18.057	Line of Credit (Maximum:)	Required for each lien if Project Blanket Financing is Yes and Line of Credit is Yes	Dollar amount	Line of Credit Maximum Amount: The maximum amount that can be extended as a line of credit.
18.030 18.039 18.048 18.057	Line of Credit (Drawn:)	Required for each lien if Project Blanket Financing is Yes and Line of Credit is Yes	Dollar amount	Line of Credit Drawn Amount: The current amount that has been drawn from a line of credit. Note: If the line of credit is unused, enter 0.
18.031 18.040 18.049 18.058	Balloon Mortgage	Required for each lien if Project Blanket Financing is Yes	Yes \| No	Indicates whether a final balloon payment is required to fully pay off the loan.
18.032 18.041 18.050 18.059	Remaining Term	Required for each lien if Project Blanket Financing is Yes	Number of months	The number of months remaining until the loan matures.
18.033 18.042 18.051 18.060	Monthly Payment	Required for each lien if Project Blanket Financing is Yes	Yes \| No	Is Monthly Payment Known: Indicates whether the payment amount is available from the blanket financing documents. If No, "Unknown" displays next to Monthly Payment.
18.033 18.042 18.051 18.060	Monthly Payment	Required for each lien if Project Blanket Financing is Yes and Monthly Payment Known is Yes	Dollar amount	Monthly Payment: The total monthly payment amount for the loan. Note: Convert all lien payments to a monthly dollar amount.
18.034 18.043 18.052 18.061	Interest Rate	Required for each lien if Project Blanket Financing is Yes	Yes \| No	Is Interest Rate Known: Indicates whether the interest rate is available from the blanket financing documents. If No, "Unknown" displays next to Interest Rate.
18.034 18.043 18.052 18.061	Interest Rate	Required for each lien if Project Blanket Financing is Yes and Interest Rate Known is Yes	Percent	Interest Rate: The current interest rate for the loan.
18.035 18.044 18.053 18.062	Amortization Type	Required for each lien if Project Blanket Financing is Yes	Choose an allowable answer from the Definition / Additional Guidance column	A classification or description of a loan generally based on the changeability of the rate or payment over time. - Adjustable Rate - Fixed - Other (Describe)
18.036 18.045 18.054 18.063	Pro Rata Share of Balance Attributable to Unit	Required for each lien if Project Blanket Financing is Yes and Line of Credit is No	Dollar amount	The portion of the project's unpaid blanket mortgage financing attributed to the subject unit. Calculated: Pro Rata Share (Percent) x Unpaid Principal Balance
18.036 18.045 18.054 18.063	Pro Rata Share of Balance Attributable to Unit (Maximum:)	Required for each lien if Project Blanket Financing is Yes and Line of Credit is Yes	Dollar amount	The portion of the project's maximum line of credit attributed to the subject unit. Calculated: Pro Rata Share (Percent) x Line of Credit Maximum Amount
18.036 18.045 18.054 18.063	Pro Rata Share of Balance Attributable to Unit (Drawn:)	Required for each lien if Project Blanket Financing is Yes and Line of Credit is Yes	Dollar amount	The portion of the project's drawn line of credit attributed to the subject unit. Calculated: Pro Rata Share (Percent) x Line of Credit Drawn Amount Note: If the line of credit is unused, enter 0.

Project Factors and Impact to Value / Marketability#

The Project Factors table provides information about relevant project factors that may impact the value and marketability of the units within the project, such as control of the project and amenities, ownership, commercial use, special assessments, and legal issues. Each project factor requires a determination of the impact to value and / or marketability.

The appearance of the Project Factors table varies based on the details of the property being appraised. This sample shows all possible rows that may display.

Developer/Sponsor in Control#

The Developer/Sponsor in Control row always displays in the Project Factors table.

Project Factors: Developer/Sponsor in Control

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.064	Developer / Sponsor in Control (Detail)	Required if the property is in a condominium, cooperative, condop, or PUD	Yes \| No	Indicates whether the developer, builder, or sponsor is in control of the management of the cooperative corporation or the HOA.
18.074	Developer / Sponsor in Control (Impact)	Required if Developer in Control is Yes	Adverse, Beneficial, or Neutral
18.084	Developer / Sponsor in Control (Comment)	Required if Impact is Adverse or Beneficial, or as needed	Free-form	When Adverse or Beneficial, describe the impact to value and / or marketability. Additional commentary may be provided to include details and other information. Note: For further expansion of commentary, use Project Factors Commentary (18.094).

Incomplete Project#

The Incomplete Project row displays in the Project Factors table if Project Complete (18.016) is No.

Project Factors: Incomplete Project

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.065	Incomplete Project (Detail)	Required if Project Complete is No	Choose one or more allowable answers from the Definition / Additional Guidance column	Incomplete Project Elements: Indicates which project elements are incomplete. - Amenities - Common Elements - Units (including buildings and phases) - Other
18.075	Incomplete Project (Impact)	Required if Project Complete is No	Adverse, Beneficial, or Neutral
18.085	Incomplete Project (Comment)	Required if Project Complete is No	Free-form	Provide additional commentary to include details and other information about the incomplete elements. Note: For further expansion of commentary, use Project Factors Commentary (18.094).

Converted in Past 3 Years#

The Converted in Past 3 Years row displays in the Project Factors table if Converted in Past 3 Years (18.018) is Yes.

Project Factors: Converted in Past 3 Years

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.066	Converted in Past 3 Years (Detail)	Required if Converted in Past 3 Years is Yes	Choose an allowable answer from the Definition / Additional Guidance column	Prior Use: The original use before the project was converted to its current form of project ownership legal structure. - Apartment - Commercial Building - Hotel or Motel - House - Industrial Building - Other (Describe) Note: If the building had multiple uses in the past, choose the last use before the conversion.
18.076	Converted in Past 3 Years (Impact)	Required if Converted in Past 3 Years is Yes	Adverse, Beneficial, or Neutral
18.086	Converted in Past 3 Years (Comment)	Required if Converted in Past 3 Years is Yes	Free-form	Comment on the extent of the conversion detailing new or refurbished items (e.g., mechanicals, flooring, wiring, plumbing, cabinets, and fixtures). Note: For further expansion of commentary, use Project Factors Commentary (18.094).

Single Entity Ownership of Multiple Units#

The Single Entity Ownership of Multiple Units row displays in the Project Factors table if the property is in a condominium.

Project Factors: Single Entity Ownership of Multiple Units

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.067	Single Entity Ownership of Multiple Units (Detail)	Required if the property is in a condominium	Number	Greatest Number of Units Owned: The greatest number of units owned by a single entity in the condominium project.
18.077	Single Entity Ownership of Multiple Units (Impact)	Required if the property is in a condominium	Adverse, Beneficial, or Neutral
18.087	Single Entity Ownership of Multiple Units (Comment)	Required if Impact is Adverse or Beneficial, or as needed	Free-form	When Adverse or Beneficial, describe the impact to value and / or marketability. Additional commentary may be provided to include details and other information. If there are multiple individuals or entities that own a significant number of units which impacts marketability within the project, describe here. Note: For further expansion of commentary, use Project Factors Commentary (18.094).

Single Entity Ownership of Multiple Shares#

The Single Entity Ownership of Multiple Shares row displays in the Project Factors table if the property is in a cooperative or condop.

Project Factors: Single Entity Ownership of Multiple Shares

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.068	Single Entity Ownership of Multiple Shares (Detail)	Required if the property is in a cooperative or condop	Number	Greatest Number of Shares Owned: The greatest number of shares owned by a single entity in the cooperative project.
18.078	Single Entity Ownership of Multiple Shares (Impact)	Required if the property is in a cooperative or condop	Adverse, Beneficial, or Neutral
18.088	Single Entity Ownership of Multiple Shares (Comment)	Required if Impact is Adverse or Beneficial, or as needed	Free-form	When Adverse or Beneficial, describe the impact to value and / or marketability. Additional commentary may be provided to include details and other information. If there are multiple individuals or entities that own a significant number of shares which impacts marketability within the project, describe here. Note: For further expansion of commentary, use Project Factors Commentary (18.094).

Commercial Space#

The Commercial Space row displays in the Project Factors table if the property is in a condominium, cooperative, or condop, and addresses commercial space in project buildings.

When Site Owned in Common (3.015) is Yes, non-residential use such as Live / Work space in the living unit is reported in the Unit Interior section (10.026-10.028).
When Site Owned in Common is No, non-residential uses are reported in the Site section (4.015-4.019 and 4.043-4.046).

Project Factors: Commercial Space

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.069	Commercial Space (Detail)	Required if the property is in a condominium, cooperative, or condop	Yes \| No	Commercial Space Select Yes if - There is commercial space in the project, or - The project's building contains commercial space, even when the HOA representing the residential owners is different from those representing the commercial owners (see Example 2 below). Notes: - If No, "None" displays in the Commercial Space row. - Project amenities or commercial parking facilities are not included in the calculation of commercial space. - Includes underground space other than parking. - Reference published guidelines by the GSEs, government agencies, or other identified secondary market participants for specific guidance.
18.069	Commercial Space (Detail)	Required if Commercial Space is Yes	Percent	Estimated Percentage of Commercial Space: The percentage of commercial space in the project in which the subject unit is located, defined as Commercial Square Footage / Square Footage of the Project Building(s) Example 1: The subject unit is in a 5-story condominium project. - The first floor (10,000 square feet) contains a mixture of commercial office and retail units. - The upper four floors (each 10,000 square feet) are all residential units. - The commercial, retail, and residential units are all within the subject's legal project. Report Estimated Percentage of Commercial Space as 20%. Example 2: The subject unit is in a 10-story building. Each floor is 10,000 square feet. - The first 2 floors of the building are retail/commercial. - The upper 8 floors are residential condominium units. - The retail commercial project and the residential condominium project are separate and unrelated legal entities, sometimes referred to as a "floating" condo. Report Estimated Percentage of Commercial Space as 20%. Example 3: The subject unit is located in Building 1 in a condominium project with 4 buildings. Each of the buildings are 50,000 square feet. - There is no commercial space in buildings 1 - 3. - Building 4 is 100% commercial. Report Estimated Percentage of Commercial Space as 25%, and the percentage of commercial space in the subject building as 0% in Commercial Space Comment. Example 4: Project has 2 buildings; total size of each building is 40,000 square feet. - Building 1 (which includes the subject unit) has no commercial space. - Building 2 has an estimated 10,000 square feet of retail commercial space on the first floor that is a separate legal entity from the project. Report Estimated Percentage of Commercial Space as 12.5%, and the percentage of commercial space in the subject building as 0% in Commercial Space Comment. Example 5: Project has 2 buildings; total size of each building is 40,000 square feet. - Building 1 has no commercial space. - Building 2 (which includes the subject unit) has an estimated 10,000 square feet of retail commercial space on the first floor that is a separate legal entity from the project. Report Estimated Percentage of Commercial Space as 12.5%, and the percentage of commercial space in the subject building as 25% in Commercial Space Comment.
18.079	Commercial Space (Impact)	Required if Commercial Space in Project is Yes	Adverse, Beneficial, or Neutral
18.089	Commercial Space (Comment)	Required if Impact is Adverse or Beneficial, or as needed	Free-form	Commercial Space Comment - When Adverse or Beneficial, describe the impact to value and / or marketability. - If there is more than one building in the project, provide the percentage of commercial space in the subject's building, which is defined as Commercial Square Footage of the subject's building / Total Square Footage of the subject's building - Additional commentary may be provided to include details and other information. - For further expansion of commentary, use Project Factors Commentary (18.094).

Known Legal Actions#

The Known Legal Actions row always displays in the Project Factors table.

Project Factors: Known Legal Actions

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.070	Known Legal Actions (Detail)	Required if the property is in a condominium, cooperative, condop, or PUD	Yes \| No	Known Legal Actions: Indicates whether research on the project revealed pending or current legal actions in which the HOA, sponsor, developer, or other relevant party is named in the litigation or alternative dispute resolution. Note: If No, "None" displays in the Known Legal Actions row.
18.080	Known Legal Actions (Impact)	Required if Known Legal Actions is Yes	Adverse, Beneficial, or Neutral
18.090	Known Legal Actions (Comment)	Required if Known Legal Actions is Yes, or as needed	Free-form	Commentary on the nature of the litigation or alternative dispute resolution, sources of information, a description of the impact to value and / or marketability, and any other details. Note: For further expansion of commentary, use Project Factors Commentary (18.094).

Unit Transfer Fees#

The Unit Transfer Fees row displays in the Project Factors table if the property is in a condominium, cooperative, or condop.

Project Factors: Unit Transfer Fees

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.071	Unit Transfer Fees (Detail)	Required if the property is in a condominium, cooperative, or condop	Yes \| No	Transfer Fees: Indicates whether transferring ownership incurs a fee that is due to the HOA or cooperative board. May also be referred to as "flip taxes" such as in New York City. Note: If No, "None" displays in the Unit Transfer Fees row.
18.071	Unit Transfer Fees (Detail)	Required if Transfer Fees is Yes	Dollar amount	Transfer Fee Amount Note: If the transfer fee is a percentage, convert it to a dollar amount.
18.081	Unit Transfer Fees (Impact)	Required if Transfer Fees is Yes	Adverse, Beneficial, or Neutral
18.091	Unit Transfer Fees (Comment)	Required if Transfer Fees is Yes, or as needed	Free-form	Commentary on the nature of the transfer fee, sources of information, a description of the impact to value and / or marketability, and any other details. Note: For further expansion of commentary, use Project Factors Commentary (18.094).

Unit Special Assessments#

The Unit Special Assessments row always displays in the Project Factors table.

Note: Do not include special tax assessments. These are reported in the Subject Property section (3.008-3.009).

Special Assessment Types and Associated Amounts#

Project Factors: Unit Special Assessments

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.072	Unit Special Assessments (Detail)	Required if the property is in a condominium, cooperative, or condop, or PUD	Choose an allowable answer from table (Special Assessment Amount Type)	Special Assessment Amount Type: The appraiser must analyze and report on proposed and existing special assessments for the project or PUD. - None - Existing - Proposed
18.072	Unit Special Assessments (Detail)	Required if Special Assessment Amount Type is Existing or if Special Assessment Amount Type is Proposed and the amount is known to the appraiser	Dollar amount	Project Special Assessment Amount: The total remaining amount that the association has charged or will charge the unit for items above and beyond normally scheduled dues.

Project Factors - Special Assessment Amount Type (Choose all that apply)

Allowable Answer	Definition / Additional Guidance
None	Choose this answer if there are no existing or proposed special assessments for the project. Note: Do not choose this answer if there is an existing special assessment, even if it has been fully paid by the unit owner.
Existing	Choose this answer when a special assessment has been charged to the unit. Notes: - If this answer is selected, provide the Project Special Assessment Amount remaining for the unit. - If there is an existing special assessment that has been fully paid by the unit owner, choose this answer and enter zero (0) for Project Special Assessment Amount.
Proposed	Choose this answer when the appraiser has been made aware of a planned special assessment, regardless of whether the amount is known. This includes any special assessment that the board and, if required, owners, have approved but the board has not initiated collection. Notes: - If the amount is known to the appraiser, provide the Project Special Assessment Amount to be charged to the unit. - If the amount is unknown to the appraiser, leave Project Special Assessment Amount blank, and provide commentary in Special Assessments Comment.

Special Assessment Impact and Comment#

Project Factors: Unit Special Assessments

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.082	Unit Special Assessments (Impact)	Required if Project Special Assessment Amount Type is Existing or Proposed	Adverse, Beneficial, or Neutral
18.092	Unit Special Assessments (Comment)	Required if Project Special Assessment Amount Type is Existing or Proposed, or as needed	Free-form	Special Assessments Comment Commentary on the reason for the special assessment(s), sources of information, a description of the impact to value and / or marketability, and any other details. Note: For further expansion of commentary, use Project Factors Commentary (18.094).

Unit Tax Abatements or Exemptions#

The Unit Tax Abatements or Exemptions row always displays in the Project Factors table.

Project Factors: Unit Tax Abatements or Exemptions

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.073	Unit Tax Abatements or Exemptions (Detail)	Required if the property is in a condominium, cooperative, condop, or PUD	Yes \| No	Tax Abatement or Exemption: Indicates whether a tax reduction or exemption has been granted. Note: If No, "None" displays in the Unit Tax Abatements or Exemptions row.
18.073	Unit Tax Abatements or Exemptions (Detail)	Required if Tax Abatement or Exemption is Yes, and the amount is known	Dollar Amount	Tax Abatement or Exemption Amount: The annual amount granted in tax reductions or exemptions. Note: If estimated, provide commentary as to how the estimation was done in Project Factors Commentary (18.094).
18.073	Unit Tax Abatements or Exemptions (Detail)	Required if Tax Abatement or Exemption is Yes, and the expiration date is known	mm/yyyy	Tax Abatement or Exemption Expiration: Indicates when the tax reduction or exemption expires.
18.083	Unit Tax Abatements or Exemptions (Impact)	Required if Tax Abatement or Exemption is Yes	Adverse, Beneficial, or Neutral
18.093	Unit Tax Abatements or Exemptions (Comment)	Required if Tax Abatement or Exemption is Yes, or as needed	Free-form	Commentary on the nature of the tax abatement, sources of information, a description of the impact to value and / or marketability, and any other details. Note: For further expansion of commentary, use Project Factors Commentary (18.094).

Project Factors Commentary#

Project Factors Commentary

Report Field ID	Report Label	When to Include	Allowable Answers / Format	Definition / Additional Guidance
18.094	Project Factors Commentary	If applicable	Free-form	Overall commentary for all project factors. - Details captured above that require additional support - Information pertinent to project factors impacting value and /or marketability that is not captured in the details above