Below Grade Finished Doesn't meet ANSI

[djd09]

so it is a hybrid ansi/fannie incorporation by reference quasi voluntary standard guidelines? and neither one of them need to comply to anything. now serving ansi flavored kool aid for 25 bucks. i mean just wear your mask

 

[Overimprovement]

Yes this is what confused me. They just say "finished" area and in the same section they talk of basements.

• Basement is any space that is partially or completely below grade.
• The GLA calculation does not include openings to the floor below, e.g., two-story foyers.
• Finished areas must have a ceiling height of at least 7’. In a room with a sloping ceiling, at least 50% of the finished square footage of the room must have a ceiling height of at least 7’ and no portion of the finished area that has a ceiling height of less than 5’ can be included in the GLA. • If a house has a finished

Yes, but right at the end of that bullet it states "can be included in the GLA", so the context is finished areas that MIGHT be counted as GLA. Since no basement area will ever be GLA per ANSI, the ceiling height is not a factor.

A 6' high finished basement is still a finished basement. the ceiling height rule only applies if one is considering it to be GLA or not.

But the most important thing--what it is called, and where it is reported on the form are nothing but ANSI/Fannie guidelines. HOW WE ADJUST is the real meat--and that depends on the market.

 

[shrubberyvaluation]

Yes, but right at the end of that bullet it states "can be included in the GLA", so the context is finished areas that MIGHT be counted as GLA. Since no basement area will ever be GLA per ANSI, the ceiling height is not a factor.

A 6' high finished basement is still a finished basement. the ceiling height rule only applies if one is considering it to be GLA or not.

But the most important thing--what it is called, and where it is reported on the form are nothing but ANSI/Fannie guidelines. HOW WE ADJUST is the real meat--and that depends on the market.

You are right, my bad.

 

[Fritz in NY]

I haven't taken the ANSI course yet. I have one question. Is the vaulted area in a foyer counted as GLA? It is not "walkable" or "useable" space.

 

[djd09]

dont worry berm houses counts but one tenth below doesn't hee haw. couldn't write up a third party "standard" as anti market as this one, no wonder fannie took 25 years to adopt. please open up the measuring instruction manual

 

[NC Appraising]

Can't say I will do this, I would prefer to vary from ANSI and not confuse the readers, especially if the basement was not valued differently due to the height or the comps had similar height basements.

I am always on the side of litigation, revisions, and complaints by the seller, buyer or re agent.

Say you included that area and you came in low or the buyer was expecting you not to include that area so they can renegotiate the contract as the listing agent had it measured and included that area as being finished. I can think of a 100 different ways this could get one in trouble, and they would be right. It is a fact...7' ceiling height. If it is 6.8....does not matter who they get to measure it, it should measure 6.8. So what is your excuse going to be?

I have been in this 6.8" ceiling height battle several times and it is not fun....high-end homes. All will throw you under the bus.

 

[NC Appraising]

Yes, but right at the end of that bullet it states "can be included in the GLA", so the context is finished areas that MIGHT be counted as GLA. Since no basement area will ever be GLA per ANSI, the ceiling height is not a factor.

A 6' high finished basement is still a finished basement. the ceiling height rule only applies if one is considering it to be GLA or not.

But the most important thing--what it is called, and where it is reported on the form are nothing but ANSI/Fannie guidelines. HOW WE ADJUST is the real meat--and that depends on the market.

That is one way to look at the problem. I will have to sleep on it....but for now, I will have to disagree.

ANSI does not say anything about basements. It is all above and below grade and their requirements are the same for both areas. Therefore, it is safe to assume that if the above grade does not meet 7' and the below grade should be treated equally? Many basements have ducts, thus some areas can be under 7'.

 

[Dublin ohio]

That is one way to look at the problem. I will have to sleep on it....but for now, I will have to disagree.

ANSI does not say anything about basements. It is all above and below grade and their requirements are the same for both areas. Therefore, it is safe to assume that if the above grade does not meet 7' and the below grade should be treated equally? Many basements have ducts, thus some areas can be under 7'.

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LikeIi posted earlier. Why do some insist on reading things in vacuum. It is obvious that within the context of FNMA above grade is GLA and below grade is not GLA. Why the confusion

 

[Overimprovement]

I haven't taken the ANSI course yet. I have one question. Is the vaulted area in a foyer counted as GLA? It is not "walkable" or "useable" space.

1st level yes, 2nd level no.

 

[NC Appraising]

LikeIi posted earlier. Why do some insist on reading things in vacuum. It is obvious that within the context of FNMA above grade is GLA and below grade is not GLA. Why the confusion

OK. Answer this:

Basement below grade finished and heated.

Ceing height of 5'.

Watta you going to do?