PUD argument with underwriter. Need help!

[CCAAMO]

Need some help with this one folks...

Subject is in a new subdivision, $500/year HOA fees for pressurized irrigation & maintenance of common area (entry & water retention area).
/quote]

My bold. You just answered your own question, of it has interest in the common area, it is a PUD. A deminimus PUD but still a PUD,

 

[Howard Klahr]

In many of the municipalities around me, they have a zoning code called PUD (planned unit development). Some of these zoning areas contain platted subs, others site condos (that's another discussion) and some are mixed use. This zoning class is most often assigned to a parcel of land or larger area, as a result of a developer's desire for a non-conforming use under current zoning, but fits the intent of the master plan or desires of the commission.

You are correct in your interpertation of the term PUD in regards to zoning. HOWEVER, for the umpteenth time, in reference to a residential appraisal for Fannie/Freddie/FHA/VA etc, PUD is defined as an HOA with manditory dues. Nothing more, nothing less.

Geography has nothing to due with the issue. This is the way it is all over the country.

 

[Mztk1]

Just to further illustrate Howard on this one:

We have a development by me that is zoned "PUD", it has common land and a common park with tot lot, etc, but the HOA is optional and the common areas are maintained by the county via a mandatory special assessment in the taxes. This development is NOT a PUD by URAR appraising standards, and it would not qualify as one in ANY state.

 

[CCAAMO]

Just to further illustrate Howard on this one:

We have a development by me that is zoned "PUD", it has common land and a common park with tot lot, etc, but the HOA is optional and the common areas are maintained by the county via a mandatory special assessment in the taxes. This development is NOT a PUD by URAR appraising standards, and it would not qualify as one in ANY state.

Jim,

A park and tot lot with optional HOA fees? What benifit is there to those who pay the optional fees vs the ones who do not?

 

[Jo Ann Meyer Stratton]

The top of the 1004/1004C is asking about private restrictions that will place a lien on the property that would take precedence over the mortgage. Mandatory HOA fees would require a check mark in the box at the top of the form. This has absolutely nothing to do with zoning.

Questions regarding zoning are not asked until you get to the Site section of the 1004/1004C--now you have to answer what the police power is (zoning) which has absolutely nothing to do with the private restrictions asked about at the top of the form.

As already stated: Mandatory home owner's association fee = PUD
Period, end of question, final answer to the top portion of the forum.

 

[CCAAMO]

T

As already stated: Mandatory home owner's association fee = PUD
Period, end of question, final answer to the top portion of the forum.

Condominiums also have mandatory HOA fees. The zoning and legal description need to be examined in both case to determine which is the correct ownership.

 

[AnonApprsr]

PUD = Zoning around my way. In Plymouth they have a HUGE PUD right off Exit 2 which I did extensive work.

 

[Jo Ann Meyer Stratton]

Yes, condo ownership has to be determined by examining the recorded documents--then if the condo ownership per your area's laws is established, the 1073 form is used. And the home owner's association fee could either be for the condo development only or for a condo HOA and a PUD HOA, provided the PUD HOA is mandatory.

Zoning never has a thing to do with the top portion of the 1004/1004C/1073--so it is totally immaterial what the zoning is when answering the question at the top of the form. The top part of the form is for private restrictions only--what would create a lien against the property.

Police power (zoning) is reported in the site area of the forms.

Private--top
Government--site area

 

[SANDY]

Yes, condo ownership has to be determined by examining the recorded documents--then if the condo ownership per your area's laws is established, the 1073 form is used. And the home owner's association fee could either be for the condo development only or for a condo HOA and a PUD HOA, provided the PUD HOA is mandatory.

Zoning never has a thing to do with the top portion of the 1004/1004C/1073--so it is totally immaterial what the zoning is when answering the question at the top of the form. The top part of the form is for private restrictions only--what would create a lien against the property.

Police power (zoning) is reported in the site area of the forms.

Private--top
Government--site area

Listen to her!

 

[Mztk1]

Jim,

A park and tot lot with optional HOA fees? What benifit is there to those who pay the optional fees vs the ones who do not?

You get to sit in a room with a bunch of other control freak Nazis and scream about the weeds in your neighbor's lawn.