"deal Killer" No Value Added For Permited Guest House

[suzuki4444]

I spent close to a month in that house when I was in an extended length argument with my wife, I could honestly live in that house, it is handy. As far the buyer, she spent over $1,000 between the termite and home inspections and appraisal that took close to two months of the summer, the contract was cancelled and I believe she has found another house.

 

[Terrel L. Shields]

Again, get the copy of that report to the state with a complaint. Value not the issue. The lack of consideration for the ADU 100% the issue. I bet they sanction someone...and they should

 

[suzuki4444]

Thank you for all the input, I sent a copy of the appraisal last week to the appraisal board in Austin and I was told it takes about a month to get a response back. Every time I think about how hard this guy (appraiser) has made my life for no reason, I just hope that all this stuff I have to do somehow makes his life miserable and he takes a job where he can't turn other people lives upside down, maybe washing cars or mowing grass.

 

[Tom D]

you don't say how close the guest house. is it close enough to connect both of them. make a bigger main house. can you move the guest house closer. better than losing that value.

 

[suzuki4444]

There is no way that can be done and look decent, between the guest house ending halfway at the main house and the two different roofs, I thought about it though. I just don't understand how a complete house built at the same time as the main house using the same materials can be worth less. The family room is the same as the guest house, same central a/c and heat, the only difference is there aren't granite countertops and a separate bathtub-shower.

 

[Mike Kennedy]

suzuki4444 said: ↑
The deal is long over, summer is almost over, I was able to find around 12 houses with guest houses in Montgomery County, five of which have contracts pending, none in my subdivision though.

List Prices and mileage distances from your property?

Original List and any subsequent reductions then Current List Prices please.

Also which school district is your property located in and how does it rate compared to the other 7 in the county?

• Land 1,042 sq mi
Population (Est.)
• (2014) 518,947
• Density 498/sq mi
https://en.wikipedia.org/wiki/Montgomery_County,_Texas

 

[Tom D]

i'm not giving up on you. you thought about it. i got a homeowner to do the same thing, it actually made the house closer to the typical house size in the area. they did an enclosed walk way from a 2nd level bedroom to the 2nd level living room of the guest house, 1st level has humongus family room (was garages). when i first drove up i thought there were 2 separate houses. it actually worked, now looks kinda contemporary. don't worry how the walkway roof looks, you can give it a slight angle, or it can be flat. the walkway was finished nicely, now 1 house. send some photos over.

 

[Meandering]

Fannie Mae

Q25. Is there a required number of comparables that the appraiser must provide when appraising a one-unit property with an accessory unit?
Yes. If the accessory unit is legal, the appraiser is required to provide at least one comparable property with the same use to demonstrate the improvements are typical for the local market. If the accessory unit is illegal, the appraiser must provide three comparables with the same non-compliant zoning use to demonstrate the improvements are typical for the local market.


Q34. Are there any limitations to the distance that a comparable sale may be located from the subject?
No. Comparable sales located a considerable distance from the subject property can be used if they represent the best indicator of value for the subject property. In such cases, the appraiser must use his or her knowledge of the area and apply good judgment in selecting the comparable sales that are the best indicators of value, and the appraisal must include an explanation of why the particular comparables were selected. This may be especially important for appraising rural housing since rural properties often have large lot sizes, and rural locations can be relatively undeveloped.

https://www.fanniemae.com/content/FAQ/appraisal-property-report-faqs.pdf

No excuses for not one comp with an ADU.

.

 

[suzuki4444]

I don't know if it matters but I don't think it was an FHA loan. Does anyone have an idea what the State Appraisal Board does when an appraiser does something like this and is it a big deal when an appraiser blows a contract on sheer laziness or incompetence, also I have a question about condition, my house was given a C3 rating, everything has been replaced in the past 18 months, all the flooring, paint, complete A/C systems, water heaters, roofs on both houses with GAF lifetime shingles. We also installed new S.S. appliances and granite countertops in the kitchen of the main house with new light fixtures throughout. We left the original formica countertops and appliances in the guest house mainly because of very lite use. Should the main house be a C2 or C3, I really have no idea about this stuff but I guess I'm going to learn.

 

[The Warrior Monk]

FWIW, "blowing a deal" won't even be a consideration in the investigation, and I would not even mention it in the complaint. The Division of Licensing Services deals with specific violations of license law. If violations are found, action will be taken. That can be anything from requiring the appraiser to take addition courses to license revocation.