2 homes, 2 addresses, for tax 5 tracts in one plat, one appraisal

[Trippapp]

Current appraisal from bank. Plat is 5 separate parcels, two different addressed homes, main home with ADU/Wkshop, however tax record one plat. Client wants it all in one appraisal. I guess the question is, should two different addressed homes be two different appraisals? Thanks for the help

 

[Tom D]

You can staple 2/3 appraisals with a grand total page. Maybe 1 page 1 with all info, then a couple of pages 2 with different parts.

My thought, are you crazy trying that on a fixed form 1004.

Isn't this a narrative appraisal where you can seperate things, then total them.

 

[Dublin ohio]

Current appraisal from bank. Plat is 5 separate parcels, two different addressed homes, main home with ADU/Wkshop, however tax record one plat. Client wants it all in one appraisal. I guess the question is, should two different addressed homes be two different appraisals? Thanks for the help

So you have two homes, one with an ADU on a site that consists of 5 "parcels" But are platted as one site with one PID

 

[shrubberyvaluation]

Current appraisal from bank. Plat is 5 separate parcels, two different addressed homes, main home with ADU/Wkshop, however tax record one plat. Client wants it all in one appraisal. I guess the question is, should two different addressed homes be two different appraisals? Thanks for the help

Highest and best use if they want market value.

 

[sputnam]

Current appraisal from bank. Plat is 5 separate parcels, two different addressed homes, main home with ADU/Wkshop, however tax record one plat. Client wants it all in one appraisal. I guess the question is, should two different addressed homes be two different appraisals? Thanks for the help

You need to clarify with the Client exactly what they want. They might want one appraisal which includes all. In that case, the market value is not likely to be the same as if each property were valued separately. It would be the 'bulk value'. In other words, how much would the property be worth if sold together to one buyer. If what they want is the retail value of each property then, it's separate appraisal however, it doesn't have to be separate appraisal reports. I think the most I did in one appraisal report was 65 properties. They weren't adjacent and they weren't even similar property types.

 

[Artemis Fowl]

Get your terminology straight.
"Current appraisal from bank. Plat is 5 separate parcels, two different addressed homes, main home with ADU/Wkshop, however tax record one plat"
This is all over the friggin place. The Plat is not 5 parcels...it is 5 lots. The tax record is one parcel. So the 5 platted lots make up the one parcel. The tax description should reflect this. The legal description should also but I've seen some weird ****.

 

[Artemis Fowl]

I apologize if you know this already but the terminology you used does not support that.

SPRINKLE WOODS #1, LOT 29

This is an example of a tax description. The legal description reads exactly the same way. In this example, the Plat is SPRINKLE WOODS #1. There is a map that shows all the lots in that plat. #29 on that map is the subject lot. There will be dimensions on that map. This is a single parcel consisting of 1 lot.

SPRINKLE WOODS #1, LOT 30, 31 and the south 1/2 of lot 32.

Tax description and also legal description. They may differ and we could see one or the other read "excluding the North 1/2 of lot 32" It's describing the same area. This is a single parcel consisting of 2 lots and a portion of the 3rd.

 

[Sadie]

Current appraisal from bank. Plat is 5 separate parcels, two different addressed homes, main home with ADU/Wkshop, however tax record one plat. Client wants it all in one appraisal. I guess the question is, should two different addressed homes be two different appraisals? Thanks for the help

Is this a property that was originally platted as 5 parcels but is now one parcel? So legal reads something like Lots 1-5, Block 4, Subdivison Y? If that is the case, it is one parcel. You can have more than one address on an appraisal, that is what many 2-4 family properties have. Legal description is the most important part of the indentifier of the property. The parcel number tells you how many tax lots you have. 1 parcel #, 1 tax lot.

 

[sputnam]

A property is not defined by how many parcels it is or by how many tax records there are. The property to be appraised is defined by the bundle of rights that is being valued. The parcel count, tax records, addressess, improvements, etc are part of how the property being appraiser is identified and described. People can own many rights which can be separated into various bundles. Any particular bundle may include one, some, or all of the rights and any or all can be appraised. As already stated, one report or two is up to your Client.

 

[Zoe]

I don't know. I don't know where the lot lines are. Does one owner live in these 3 dwellings? Are some rented out? You could have H&B use issue on doing market value because they could be worth more sold separately for all I know. Were they all purchased together by the current owner?

I guess you could do an HC where they had to be sold together based on your opinion of market value. Just say that is assignment condition. I can't really see them being sold together being the H&B use.

I doubt there is any deed restriction that requires them to be sold together. I don't know. Don't make sense to me.

I guess you could value each differently based on H&B use analysis and put each value in the report. This subject value is $X. This subject appraised value is $X. Let the lender then decide what they want to do.

H&B use is residential isn't it? They won't be tear downs will they?