C1 or C2

[shrubberyvaluation]

Subject was sold as new construction about 9 months ago. Now it is under contract as my subject. I was told it was never lived in. C1 claims "very recently constructed." Is this in the time frame of very recently constructed (assuming it didn't sit around before the prior sale)?

 

[Fernando]

Like a car, once taken out of lot, depreciation starts.
I had a "newer" house which was hardly lived in. Few years later, the environment does cause some depreciation to house.

 

[JTip]

I was told it was never lived in.

Google the address, investigate the potential lie.

Once you #2 it is C2 is what AI teaches.

 

[Fernando]

You're the appraiser. You make the call.
Whether C1 or C2 doesn't make a difference. Just get appraised value right.

 

[Carnivore]

I think the never lived in is the key phrase.

This question came up awhile back at facebook.

So I ask; what if the subject was used as the model home and it was also the sales office for two years?

Someone said it does not matter, it was lived in.

So we must go the C conditions ratings definitions

Its a grey area , but I agree treat as C1

 

[andrew81]

Why did it sell again?

 

[shrubberyvaluation]

Why did it sell again?

Was told the former buyer bought two properties in the new community. This one was going to be for extended family but they changed their mind on it and put it back on the market.

 

[Flakey]

I would call it C1 and explain. I am curious how this would affect the builders warranty.

 

[Tom D]

c1, never lived in. car was never driven off the dealer parking lot.

 

[J Grant]

Subject was sold as new construction about 9 months ago. Now it is under contract as my subject. I was told it was never lived in. C1 claims "very recently constructed." Is this in the time frame of very recently constructed (assuming it didn't sit around before the prior sale)?

The house was sitting out in the weather for 9 months and it is no longer a brand new C 1. It is also now a resale, not direct from a builder like the other C 1 in the community would be. C 2 and explain. There is no way for you to verify if it was ever occupied - you were told it was not. You toured the house, does it look like a C 1 or feel/look more like a C 2?? Either way, make the call and explain why