ADU to be included in GLA

[J Grant]

While ADU's are not EXACTLY the same, the guidelines for them are the same - for appraisals for lending work at least.

If you have a reason the normal guidelines do not apply then go for it, but as far as dwelling sf inclusion, the dividing line is there is no direct access from the main dwelling into the ADU .

 

[Overimprovement]

So if the market valued below grade space on a split foyer the same as above grade, would you lump it all together on page 2?

 

[J Grant]

So if the market valued below grade space on a split foyer the same as above grade, would you lump it all together on page 2?

NO , because how the market "values a space ", does not change the actual physical characteristic of that space, and thus should not change how we report that characteristic.

 

[Overimprovement]

NO , because how the market "values a space ", does not change the actual physical characteristic of that space, and thus should not change how we report that characteristic.

Sorry, I should have been more clear who I was responding to---I was posing this somewhat rhetorical question to Brit, as an example of why their ADU as GLA train of thought is incorrect.

 

[Tru Red]

Sorry, I should have been more clear who I was responding to---I was posing this somewhat rhetorical question to Brit, as an example of why their ADU as GLA train of thought is incorrect.

When the VA, the lender, the underwriter, the SAR and god himself tells me to include living space in the GLA, I'm going to do it.

The problem here is that some appraisers in this thread are interpreting or not interpreting correctly the term, ADU.

All ADU's do not fit into one box. Some ADU's are not actually ADU's. They are part of the home; therefore they are not ADU's, even though a REALTOR or a Seller or a Buyer or a mis-infomed appraiser demands we call them ADU's. Effectively they are telling me, the VA, the underwriter, the lender, Et.al that we are wrong because Fannie Mae wrote something. Yet even Fannie Mae wrote it allowing for variations in the interpretation.

Again..........the term ADU does not fit into one tighty little box.

Besides....at the end of the day the opinion of value will probably be close or even the same.

I'm done.

 

[Overimprovement]

Nobody on here cares if you call it an ADU or something else. And frankly, I doubt if anyone really cares if you personally include in GLA. But... when ALL of your peers have clearly demonstrated from Fannie's own guidelines that what you describe is NOT GLA, maybe you should give that more than a little consideration and simply admit you have been reporting it wrong on every single report. You don't have to admit it here, but be a good enough appraiser to correct your mistake going forward. We need objectivity to continue as a profession. If you use Fannie's forms, use their definitions.

 

[Tru Red]

Nobody on here cares if you call it an ADU or something else. And frankly, I doubt if anyone really cares if you personally include in GLA. But... when ALL of your peers have clearly demonstrated from Fannie's own guidelines that what you describe is NOT GLA, maybe you should give that more than a little consideration and simply admit you have been reporting it wrong on every single report. You don't have to admit it here, but be a good enough appraiser to correct your mistake going forward. We need objectivity to continue as a profession. If you use Fannie's forms, use their definitions.

Finally.....sense. Nobody on here cares. Nor do I............I'm just having some fun while working. But when the VA, the lender, the underwriter, the SAR all tell me to call it GLA (in the example I provided) I'm going to call it GLA.

Just because 100 appraiser see a horse painted like a zebra, I'm not going to call it a zebra.

 

[Overimprovement]

And if the lender and real estate agent tells you it needs to come in at X, I guess it will always come in at X, huh?

I would like to see the email FROM FANNIE MAE telling you to call it GLA. Until then, a horse with stripes is still a horse and a chestnut colored zebra with a saddle is still a zebra.

 

[Tim Hicks (Texas)]

When the VA, the lender, the underwriter, the SAR and god himself tells me to include living space in the GLA, I'm going to do it.

The problem here is that some appraisers in this thread are interpreting or not interpreting correctly the term, ADU.

All ADU's do not fit into one box. Some ADU's are not actually ADU's. They are part of the home; therefore they are not ADU's, even though a REALTOR or a Seller or a Buyer or a mis-infomed appraiser demands we call them ADU's. Effectively they are telling me, the VA, the underwriter, the lender, Et.al that we are wrong because Fannie Mae wrote something. Yet even Fannie Mae wrote it allowing for variations in the interpretation.

Again..........the term ADU does not fit into one tighty little box.

Besides....at the end of the day the opinion of value will probably be close or even the same.

I'm done.

I think it is a two family property. LOL

 

[RSW]

And if the lender and real estate agent tells you it needs to come in at X, I guess it will always come in at X, huh?

I would like to see the email FROM FANNIE MAE telling you to call it GLA. Until then, a horse with stripes is still a horse and a chestnut colored zebra with a saddle is still a zebra.

Watch it. Or, the Brit will block you, too. The Brit needs to look at what his peers would do. It appears that most if not all of his peers on this forum would consider them as ADUs. Kind of makes you think a little bit or it should.