Duplex or Two SF?

[alebrewer]

I would convince client to appraise the two different APNs. Better fees.

I would expect no less from you, Fern... Haha!

 

[Charles West]

Two different APN's...

I'd considered them single family units that just happen to be rentals. Develop the 1004 with GRM analysis and give them a discount on the second one assuming they are similar.

 

[Fernando]

I would expect no less from you, Fern... Haha!

Yesterday Amazon Prime Deal day, there was this portable CO detector for $17. I was going to buy some in case the homeowner didn't have one.
I used to sell a unit if they didn't have it. I decided not to be that nice. Didn't want to be stuck with bunch of CO detectors.

 

[Mark K]

Two units, not a duplex.

Not saying you couldn't appraise both units in a narrative format but for typical lending, its two distinct units, two appraisals.

 

[alebrewer]

Two units, not a duplex.

Not saying you couldn't appraise both units in a narrative format but for typical lending, its two distinct units, two appraisals.

Technically, you could do it 'subject to' assemblage, right? In which case you'd have to build th that H&B argument...

 

[Mark K]

Technically, you could do it 'subject to' assemblage, right? In which case you'd have to build th that H&B argument...

I suppose you could but I think you'd have trouble producing a credible report with all of the necessary assumptions.

 

[BRCJR]

Highest and Best Use.

Two single-unit residential (SUR) properties or as a whole (Duplex).

Which yields a higher value?

 

[BRCJR]

Two units, not a duplex.

Not saying you couldn't appraise both units in a narrative format but for typical lending, its two distinct units, two appraisals.

A smart lender, assumption H&BU is not a duplex but two single-units, will only need one appraisal.
Multiply the opinion of value by 2 for the LTV. Write a memo to the credit file explaining what was done and why.

 

[Surf Cat]

Highest and Best Use.

Two single-unit residential (SUR) properties or as a whole (Duplex).

Which yields a higher value?

Or...2 separate duplexes if legally permissible. This way, instead of assemblage, just add another unit to each parcel.

 

[Terrel L. Shields]

Is it

OR (2) residences in one dwelling like these...

OR - "Patio homes" 2 lots shared wall zero lot line?


Or just 2 houses on 2 lots...owned by same person?