Site Condo Dwelling - how to distinguish between Semi-Attached, Semi-Detached, or Detached?

[MMing5000]

Subject is a ranch style (rectangular shape) "site condo dwelling" with a 10-feet wide covered breezeway/covered patio along the entire length of the dwelling, where the roof of a shared 2-car carport sits about 2-inches below the covered breezeway/covered patio (not touching). Technically the carport is not attached to either site condo dwellings, but in the report, so i prepared the report on the URAR, but i may have mistakenly called it "semi-detached" because the 2" roof clearance is pretty close to being attached.

The Underwriter came back and said:
"Based on the Declarations from the Association this subject property is not attached. Appraiser to either clarify and correct the current appraisal showing subject IS detached or the subject must be done on a 1073, if truly semi-attached."

My dilemma is whether to just re-label the dwelling as detached (from semi-detached) since the UW said "Based on the Declarations from the Association this subject property is not attached", or do i stay with "semi-detached" description and take a loss by re-doing the appraisal on the Condo 1073?

For further clarification, the property is listed as detached dwelling just as all other listing history of semi-attached dwellings listed in the MLS. The client wanted URAR 1004 for detached site condo properties as they usually does.

In the report i have stated:
the language of Real Estate appraisal defines a condominium as: "A multi-unit structure or property in which persons hold fee simple title to individual units and an individual interest in common areas", where in the condominium definition there is implied no subdivision of land, which is not applicable for detached site condo dwellings that do have subdivision of land.

 

[Jerry Bone Jr]

Subject is a ranch style (rectangular shape) "site condo dwelling" with a 10-feet wide covered breezeway/covered patio along the entire length of the dwelling, where the roof of a shared 2-car carport sits about 2-inches below the covered breezeway/covered patio (not touching). Technically the carport is not attached to either site condo dwellings, but in the report, so i prepared the report on the URAR, but i may have mistakenly called it "semi-detached" because the 2" roof clearance is pretty close to being attached.
The UnderwriteR came back and said:
"Based on the Declarations from the Association this subject property is not attached. Appraiser to either clarify and correct the current appraisal showing subject IS detached or the subject must be done on a 1073, if truly semi-attached."
My dilemma is whether to just re-label the dwelling as detached (from semi-detached) since the UW said "Based on the Declarations from the Association this subject property is not attached", or do i stay with "semi-detached" description and take a loss by re-doing the appraisal on the Condo 1073?

I want to say something about your competency...

 

[Mark K]

Is it or is it not a condo? THAT will tell you which form to use. The style of building does not determine the correct form.

 

[Carnivore]

Here ya go!

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selling-guide.fanniemae.com

Here is the PDF of the Selling Guide: https://singlefamily.fanniemae.com/media/5806/display

Never Mind... Fannie Mae in there infinite wisdom has changed the ON-Line Selling Guide search function and it SUCKS. There Tech Guy/Team Should be taken out and Horse Whipped

 

[MMing5000]

Is it or is it not a condo? THAT will tell you which form to use. The style of building does not determine the correct form.

Unfortunately this is not quite true for conventional loans as most Lender would request detached site condo properties to be appraised on URAR Form 1004 such as the client on the order. The dilemma is whether it is attached, semi-detached, or detached. If it is for FHA/USDA then the Condo Form choice is obvious.

 

[MMing5000]

I want to say something about your competency...

Do it!

 

[Joyce Potts]

What difference does it make whether it's attached or detached, if it's legally zoned and the legal description makes it a site condo???

 

[Carnivore]

What difference does it make whether it's attached or detached, if it's legally zoned and the legal description makes it a site condo???

I was thinking the same question. For lenders to say they Prefer a 1004, That is a BS Comment because the Lender has no choice if they intend to sell the loan to FNMA.

Which raises another question. How do you report a Condo on a 1004. Well there is a way but it has a caveat, See below from the Horse mouth.

What appraisal forms are used for detached condo units?
For a detached condo unit in a condo project consisting of solely detached dwellings:

• Appraisals for units in condo projects that consist solely of detached dwellings may be documented on (Form 1004)*.
• In this case, the appraiser must include an adequate description of the project and information about the homeowners’ association fees and the quality of the project maintenance.

For a detached condo unit in a condo project consisting of both detached and attached units:

• For a detached unit in a condo project that include a mixture of both attached units and detached units, the condo appraisal form (Form 1073)* must be used even when the subject unit is a detached unit.
• The appraiser may only use (Form 1004) for a detached condo unit when the project consists solely of detached units.

Error

Not found

selling-guide.fanniemae.com

 

[Econobot]

Is it a site condo? Do you know the difference...the bundle of property rights determines the form use, not the MLS listing.

 

[Tom D]

i'm gong with detached. being attached to other items doesn't make it semi-det. i think the reference 'is it attached to another dwelling', not a shared amenity. The house is detached, everything else it attached to the condo site.

being a row house appraiser i don't understand the comments, or terminology, on this thread, but the reference to which form used is very interesting. i would think the 1073 would still be the safer form to use, it covers all the info needed, less misleading