Gross Living Area I’m baffled and frustrated. Simple error turned into a license threatening case by a state apparently trying to demonstrate its new found muscle, after years of not doing anything.I doubt many underwriters or more likely, their review ‘clerks’ catch the exceptions part of your explanation.Readers should also assure themselves as to the specifics for VA; FHA, Freddie Loans.Your site and its useful news is especially helpful to appraisers that may not be members of professional peer appraisal groups. Let’s start with defining gross living area, commonly referred to as GLA. Builder sold same model homes with open area and assessor recorded them as 2,000sqft including the “open” area. Not unless you have blueprints and finish schedules it won’t.As for “asking for credit as one way versus another” the property is what it is.
They can also find helpful advice one on one though the American Guild of Appraisers, OPEIU, AFL-CIO.
400+-SF at $10,500 = $26.25/sf. The ADU is totally above ground and is connected to our heating/electrical/gas system. If that’s the case then it should be reflected everywhere.
Let’s start with defining the 2 areas.
I never had a problem (subject to quality) addressing these honestly and accurately as below the line (basement in the old days) other areas that MAY be at same value rate as actual GLA.
The two areas share a roof and ac/heat (if we ever use it in Florida). We are OBLIGATED to use the information source that we deem to be most credible and reliable.
If it were a basement, would we get credit for the full bathroom and fireplace?3) On the cost basis calculation, she only considered the gla and the garage (non-gla) and totally left of the 408 for the basis. We’ve recently permitted the room as an ADU. I understand appraisals are not one size fits all but if I’m paying taxes on 2891 and regularly using 2891 sq ft, why is the appraiser omitting the 407 sq footage? The sf of this space is 270sf and the appraiser gave us gla for this which is on the same level as the basement. You have been generous and kind in your expertise.I bought a home in 2013 with a GLA of 2414 sq/ft. Enclosed porches and finished above grade spaces can be used if: permanent heat source; finished in same quality; permit obtained; etc.
The original development permits did not call the house a three-story or four-story. Interior photos all look great and quality appears to be consistent.There are a number of possibilities: The appraiser COULD honestly just be wrong. We generally include authors' info at the end of each article.AGA, MNAA, Accredited Green Appraiser - Licensed in WA State since 2003.Bonus rooms (typically above garage) within heated envelope of dwelling: Your other data on size could be wrong.
What does the Certificate of Occupancy for your house show?
The new appraiser listed it separate at $7500 which is a 13000 difference.I get it Chase and feel your frustration, but with what you’ve disclosed, it seems cut and dry that if it’s traced back to being a known sun room, it’s a sun room and not traditional GLA. Nice features but no the same as a living room or original-built included-inside family room or great room. Your family will end up eating far more beans and rice than the weasels and rodents but in the end you know you did the right thing.
Uniform Residential Appraisal Report $5,000 to $10,000+- for best. (Let’s not confuse it further with split levels since that is a whole new area of standards and considerations).
It’s more confusing when the selling real estate agents lump all “living space” together, because that’s what they are selling, or when the county assessor includes basements with upper level areas.These include homes with a detached ADU, additional rec room or sleeping space above a garage, additional living space with roof attached to the primary dwelling via covered breezeway, basement living spaces with separate entry, etc.Fannie Mae has a giant book called the Seller’s Guide, a portion of which describes how they expect living spaces to be annotated, as do Freddie Mac, FHA, VA, USDA, etc.The most common comparison for one-unit properties, including units in PUD, condo, or co-op projects, is above-grade gross living area. If your state (or County) has a reputation for taxing at builders stated SF instead of per plans and ANSI measurements, then the appraiser would NOT deem them to be credible.Is a 407 sf error probable? Why have any ADU only to get penalized for it?Erin, we invented the four-story 2-story house on a hillside in CA. So if level is the determining factor, how did we receive sf for one and not the other?
I’m not going to second guess an appraisal I have not seen.It’s very possible the appraiser is saying “contract can be written for any cash price the buyer and seller want; but if they want to finance this house they need to know it is worth $80,000 less based on current appraisal standards and market value definitions.”You can always hire a separate appraiser to do a formal field review of the first appraisal.
It seems strange you would not have heard of an ADU before if you are a true ‘peer’ to anyone doing appraisals for FRTs.Wow here too!
It has been on the tax roll for 2428 sq/ft for that entire time and has been appraised 3 separate times when the house sold with no issues. Sometimes it is an owner himself that hinders accuracy. This time instead of allowing them to have their AMC shop for the cheapest appraiser around, you may want to encourage them to shop for the most competent appraiser around.