Basement vs built in garage/basement

[Mack McClain]

No, they don't park their car in the basement. They park it in their garage. 2 separate things and don't have anything to do with each other any more than an attached garage has to do with GLA.

What if the house has a 1000 sq ft of open area under the main level, some would call a basement, with no interior doors and a garage door on the side. What do you call that area?

 

[residentialguy]

If someone finishes the attached garage with similar quality as the rest of the house, its heated/cooled, above grade, why couldn't you count it as GLA.

Oh boy....you're a CR?

 

[TJSum]

When completing the Cost Approach, what square footage do you show for the basement line? Then what square footage do you show for the garage line? (If you have a 1000 sf main level, 600 sf basement with a 400 sf built-in garage).

As Mike K is asking, then on the market grid, if you are showing 1000 sf basement area, and also showing a garage, how is that not counting it twice?

 

[residentialguy]

What if the house has a 1000 sq ft of open area under the main level, some would call a basement, with no interior doors and a garage door on the side. What do you call that area?

Depends...If it is counted as a garage, than it has no basement. If it is counted as a basement, than it has no garage. If their is a firewall between the garage area and the rest of the lower level, than it has a garage and a partial basement.

 

[christopher uphold]

I appreciate the different opinions, my issue is the foundation section itself. 4 choices, crawl, slab, partial basement or full basement. If the foundation of the home is a partial basement & partial built in garage as some suggest, then why is that not one of the choices per URAR form? My thoughts, full basement with part of that basement as a built in garage and part as either finished or unfinished basement. seems clear enough? I just can't find anywhere in Fannie Mae guidelines how to present that any other way. The sales comparison grid and cost approach are different sections, I am just concerned with the foundation section and not misleading.

 

[Mack McClain]

Perhaps you missed this request?
http://appraisersforum.com/showpost.php?p=2400331&postcount=38

There more than one way to do it. Some appraisers draw the entire lower level and call it a basement, which will be 1000 sq ft. They then draw a arbitrary line in the sketch to show the wall dividing the area used as a garage with the rest of the basement, then they label that area as Built-In Garage. No additional area is added.

Some appraisers sketch the entire lower lever, label it basement and then simply label the area used as a garage, as such, just like you would label a room in the house....like a bed room, bathroom, rec room. Very similar to the main level, regardless of what those rooms are labeled, they are still part of the gross living area. Regardless of how the area in the lower level is used, its still basement area.

As stated in someone else's post, in the sales grid...some appraisers give a small adjustment between a house with a 1000 sq ft basement with no garage compared to one with a built-in garage because of the utility of that area, due to the garage door.

 

[residentialguy]

I appreciate the different opinions, my issue is the foundation section itself. 4 choices, crawl, slab, partial basement or full basement. If the foundation of the home is a partial basement & partial built in garage as some suggest, then why is that not one of the choices per URAR form?.

It is. It says "partial basement" ...and that's what you have under it.
Under the garage section, you have "built-in"...there's the other part.

 

[Mack McClain]

I appreciate the different opinions, my issue is the foundation section itself. 4 choices, crawl, slab, partial basement or full basement. If the foundation of the home is a partial basement & partial built in garage as some suggest, then why is that not one of the choices per URAR form? My thoughts, full basement with part of that basement as a built in garage and part as either finished or unfinished basement. seems clear enough? I just can't find anywhere in Fannie Mae guidelines how to present that any other way. The sales comparison grid and cost approach are different sections, I am just concerned with the foundation section and not misleading.

Thats what a lot these guys are missing. You don't have a choice for built-in garage foundation. You have to describe what the foundation of the whole house is. If part of the house if over a garage and part of the house is over a crawl space, then you describe the house as a partial basement and crawl. If part of the house is crawl and part is a concrete slab, then you describe it as a such. If its partial basement, then its got to have another foundation such as crawl, slab, etc. Built-in garage is not a choice.

It having a fire wall has no bearing on what to call that area in the basement. Just like having interior walls in the main level have no bearing on to call the finished area gross living area.

 

[Mack McClain]

It is. It says "partial basement" ...and that's what you have under it.
Under the garage section, you have "built-in"...there's the other part.

Thats not the foundation section of the report.

 

[TJSum]

I appreciate the different opinions, my issue is the foundation section itself. 4 choices, crawl, slab, partial basement or full basement. If the foundation of the home is a partial basement & partial built in garage as some suggest, then why is that not one of the choices per URAR form? My thoughts, full basement with part of that basement as a built in garage and part as either finished or unfinished basement. seems clear enough? I just can't find anywhere in Fannie Mae guidelines how to present that any other way. The sales comparison grid and cost approach are different sections, I am just concerned with the foundation section and not misleading.

Check off partial basement, because that is what you have. This does not mean you have to check off slab or crawl space as well, just check off partial basement and leave it at that. Later on in the report you will check off built-in garage. Somewhere in the remarks, if you wish to clarify just state the lower level is a partial basement WITH built-in garage.

For those who insist that the foundation section on page 1 must add up to 100%, what happens when you have overhangs on the level above the basement? The basement won't add up to 100% of the main level, and does not have a slab or crawl space. There are plenty of examples where 100% of the foundation will not be accounted for with the four checkboxes provided in that section.