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PUD ot not a PUD

Discussion in 'Urgent - Help Needed' started by Josh Shapiro, Feb 23, 2006.

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  1. Josh Shapiro

    Josh Shapiro Member

    0
    Jan 17, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Zoning on the propety is RS - Single Family Suburban 5 units per acre. There is a HOA of $125.00 per year. Should this be market a PUD at the top of page or not. Neeed response ASAP...
     
  2. Couch Potato

    Couch Potato Elite Member

    0
    Mar 15, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Fannie Mae Single Family
    Selling Guide
    Part XI: Property and Appraisal Guidelines
    XI, Chapter 3: Special Appraisal Considerations (06/30/02)
    XI, 302: Units in PUD Projects (06/30/02)

    For a project to qualify as a PUD, the owners' association must require automatic, nonseverable membership for each individual unit owner, and provide for mandatory assessments. Zoning should not be the basis for classifying a project as a PUD.
     
  3. Smokey Bear

    Smokey Bear Elite Member

    0
    Dec 8, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Josh, today is Thursday. The Thursday question is "do you take your shoes off?". "Is it a PUD?" is a Tuesday question. :icon_smile:

    Seriously though, if the HOA fee is mandatory, and/or if the HOA can put a lien on the property to enforce fees or fines, then you check the PUD box.
     
  4. TC

    TC Elite Member
    Gold Supporting Member

    15
    Jan 31, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Pennsylvania
    Knock on some doors, call the hoa prez, go to the courthouse, the answer is there, not on this website.

    TC
     
  5. Bill Baughn

    Bill Baughn Senior Member

    0
    Mar 10, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Nevada
    Josh,

    Seems to me that anytime a HOA is involved, you have a "PUD". A trip to the courthouse is not needed...
     
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