A series of forms are being released by the [Appraisal Institute] to address the needs of its members will be ready for use on January 1st 2006. Its the first of a series of new forms in development. The revision of all residential appraisal forms by Fannie Mae on November 1st 2005 are not usuable for purposes other than for mortgages unlike in the past. It will fill the void since software vendors would likely discontinue their support for the old FNMA forms in the future. Its a valient effort and the forms look great.
On a lighter note, the final form does not appear to have the complete copyright text at the bottom. You might see that type of presentation on a web site with a link to more disclaimers. You usually see “all rights reserved” as a suffix, but I am not a lawyer. 😉
The forms are tailored toward their members with their logo and have checkboxes for designations, etc. Understandably self-serving so I predict that they will not be universally accepted as a replacement. The opportunity remains for others to develop forms for non-lending purposes.
I think the Appraisal Institute has been short sighted from a marketing perspective and likely squandered an opportunity to make these forms the standard to be used by all. The advertising on the form will only be to their own membership which has its purpose but does not gain new members. A subtle notation at the bottom of the form would have been a far more powerful marketing tool.