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Condo/Cooperative Section

 

If the subject property is located in a condominium or cooperative development, then this section of the 1004MC must be completed.

Responses in this section should be based only on comparable units in the same project as the subject.

 

Common Issue

Failure to Complete Both 1004MC Data Grids

If the subject property is in a condominium or cooperative, both data grids on the 1004MC must be completed. The upper grid should be completed using all comparable properties in the subject’s neighborhood, while the lower grid is completed using only comparable units in the subject’s project.

Project Name Does Not Match Primary Form

The project name that is identified in this section of the 1004MC should exactly match the project name that is provided on the main form. Any discrepancy will result in a report revision request.

Condo/Co-Op Section has More Data than Neighborhood Grid Above

The grid at the top of the 1004MC should be populated using comparable properties within the neighborhood. The grid at the bottom of the 1004MC should report only units in the subject’s project. Hence, the lower grid should never have more data points than the upper grid.

 

 

 

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