2 separate addresses

[2020]

I have an order for a house and lot plus an adjoining vacant lot that has a separate address on separate deed. Should this not be two assignments?

 

[alebrewer]

Is it FHA or conforming?

 

[2020]

Is it FHA or conforming?

conforming

 

[CGinMN]

Is there a demand for building on that adjoining vacant lot, or does it provide more utility/contributory value to be included with the subject? What is the value if sold independently vs. the value contributed to the subjects as excess land?

For conforming loans, a second parcel can be included so long as it meets the following criteria.

 

[alebrewer]

Page 4 of the Appraiser Update hyperlink below may help as well.

https://singlefamily.fanniemae.com/media/22301/display

 

[glenn walker]

I have an order for a house and lot plus an adjoining vacant lot that has a separate address on separate deed. Should this not be two assignments?

Depends they can be combined as one large lot for loan purposes.

 

[TerryRohrer]

Page 4 of the Appraiser Update hyperlink below may help as well.

https://singlefamily.fanniemae.com/media/22301/display

That gets dumber every time I read it. The "excess land" has an estimated "value in use" added to the balance of the subject and the sum is reported as the "market value" of the whole (while assuming it is encumbered and not encumbered at the same time). What a cluster by idiots who have no competency in opining on appraisal practice!

 

[alebrewer]

That gets dumber every time I read it. The "excess land" has an estimated "value in use" added to the balance of the subject and the sum is reported as the "market value" of the whole (while assuming it is encumbered and not encumbered at the same time). What a cluster by idiots who have no competency in opining on appraisal practice!

I remember at the time even Appraisal Buzz was busting on them. They published an article titled "A Fifth Test for H&BU?" (or something similar). When your own sycophants turn on you, it might be a 'here's your sign' moment...

 

[sputnam]

I have an order for a house and lot plus an adjoining vacant lot that has a separate address on separate deed. Should this not be two assignments?

Not necessarily. I had an assignment once that was 65 properties. They were varied property types and not adjacent. One assignment and one appraisal report. Obviously the fee was higher than an appraisal for one single family dwelling. A lot higher.

 

[Tom D]

And how much are you getting for this appraisal, or appraisals. IF you have those multi lot comps jump right in. If you don't you might have to segregate the parcels to get a total.
Let the stips begin. Were the lots needed together to make 1 typical house lot size for the area.