C1 or C2

[Tim Hicks (Texas)]

You know, you can label it C2 and make no adjustments for it being in like/new condition.

 

[Tim Hicks (Texas)]

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

Don't they take nine months to build a new home on some properties Florida. A roof and siding can get six months of weather during construction. It is still a new (C1) home.

 

[J Grant]

Don't they take nine months to build a new home on some properties Florida. A roof and siding can get six months of weather during construction. It is still a new (C1) home.

This house has spent an additional nine months sitting out in the weather in addition to the first nine months of being built. During the past nine months, did it have the AC running? Keeping a house cool inside in Florida is expensive—some are too cheap to keep a vacant house cool enough. Roofs tend to be added at the end stage of new construction and might get a month or so of exposure.

I don't know if they should label it C 1 or C 2 - I haven't seen it. I've been in houses that are 9 months post-construction, and some of them are C 1, and others are already in C 2 condition.

Most C1 houses are bought brand new from a developer or builder and not months later on the resale market - just saying.

 

[Dublin ohio]

Roofs tend to be added at the end stage of new construction and might get a month or so of exposure.

Not around here. No interior work is going to be done until the house is "dried in". Roof is on by the time exterior sheathing is done. If they can finish the interior of a house in a month in Fla. That would mean about a 2 month total construction time

 

[Fernando]

This house has spent an additional nine months sitting out in the weather in addition to the first nine months of being built. During the past nine months, did it have the AC running? Keeping a house cool inside in Florida is expensive—some are too cheap to keep a vacant house cool enough. Roofs tend to be added at the end stage of new construction and might get a month or so of exposure.

I don't know if they should label it C 1 or C 2 - I haven't seen it. I've been in houses that are 9 months post-construction, and some of them are C 1, and others are already in C 2 condition.

Most C1 houses are bought brand new from a developer or builder and not months later on the resale market - just saying.

I appraised this few years old home which was not lived in much by owner.
It looked spackling new but I remembered reading its inspection report and there were some minor costs.
It may appear new from observation but there is depreciation from the elements and time.

 

[J Grant]

Is a Virgin the same thing as almost a virgin ?(- cause it was just that one time ) We know the answer to that one...and c 2 and c1 are also a clear dividing line...Read the definitions and what they say and what that means.....c 1 is NEW, and c2 is SIMILAR TO NEW

Nine months old is not new. There has to be a dividing line, and that, IMO, is it—a month or two or three, four tops...after that, it is not new. Does new have any meaning if one keeps stretching it out?

C1) The improvements have been very recently constructed and have not previously been occupied. The entire structure and all components are new and the dwelling features no physical depreciation.*y occupied are not considered “new” if they have any significant physical depreciation (i.e., newly constructed dwellings that have been vacant for an extended period of time without adequate maintenance or upkeep).

C2 The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building componentsare new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replacedwith components that meet current standards. Dwellings in this category either are almost new or have been recently completely renovated and are similar in condition to new construction.

 

[Tim Hicks (Texas)]

If somebody else purchased it and now they are reselling it, it is C2 whether they occupied it or not. How can you be sure it was never occupied?

 

[Tom4value]

UAD is quite clear. Never lived in is C1. Lived in, C2.

 

[Surf Cat]

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.

Well....is the purchase price in-line with other C-1, new construction sales? (Ones not 9 months old). Did the selling agent reveal any backup offers?

I would think the market would dictate whether it's a C1 or a C2 based on the price they were willing to pay. Sure, we have to give it a uad rating however, the market's offerings is where the rubber meets the road.

 

[Fernando]

Well....is the purchase price in-line with other C-1, new construction sales? (Ones not 9 months old). Did the selling agent reveal any backup offers?

I would think the market would dictate whether it's a C1 or a C2 based on the price they were willing to pay. Sure, we have to give it a uad rating however, the market's offerings is where the rubber meets the road.

As a real estate agent, for sure I'll call it C1. Appraisers can call it what they see fit for their narrative.