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1025 or 1004

Fernando

Elite Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
Subject is a SFR with an ADU.
Client wants it on 1025 but it should be on 1004, right?
Since they're paying me, I do as they say, right?
 
Has anyone done a house with an ADU on 1025?
Did Fannie change which I wasn't aware of?
 
C.R.E.A.M. mentality does not apply in our profession.
What's C.R.E.A.M.?
Client wants it then I do it. If need to change, I'll charge additional fee. I have it all planned out.
 
As I understand the new CA rules, ADU's have effectively become rental units - in which case, I can see an argument for duplex as both units are now, effectively, rental units. Of course, I don't live in CA, Fern - you do...
 
Subject is a SFR with an ADU.
Client wants it on 1025 but it should be on 1004, right?
Since they're paying me, I do as they say, right?
It is either a SFR w/adu or it is a 2 family detached. Only you can know. If you don't. Decline the assignment due to lack of competency.
 
As I understand the new CA rules, ADU's have effectively become rental units - in which case, I can see an argument for duplex as both units are now, effectively, rental units. Of course, I don't live in CA, Fern - you do...
I have always done a SFR with ADU on 1004.
Just because it's a legal ADU, it still not comparable to a real duplex.
Can you imagine inexperienced appraisers comparing a SFR with ADU with a real duplex.
Some ADU additions do look like a duplex but my subject still looks like a SFR with an ADU.
 
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