ADU to be included in GLA

[Pickle Rick]

You never leave air conditioned space to get to additional air conditioned space

 

[J Grant]

Some ADU's are not actually ADU's. They are part of the home;

It it is "part of the home", Then it is not an ADU . However, to be counted sf GLA " part of the home", there must be direct access to it inside the home.

If not, if you have to exit the home and go outside or go into a porch or garage to enter the ADU, it is not, for appraisal purposes " part of the home" count of GLA/main dwelling sf.

An ADU gets valued on its own line, and the contributory value can be equal to, less than, or more than if it were $ per Sf of home

 

[CANative]

I logged in after all this time just to say *sigh*

 

[Sadie]

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.

An ADU is what is defined by the municipality. It can be a separate structure or part of a finished basement. Gotta know your market to defined what you have.

 

[Tim Hicks (Texas)]

I logged in after all this time just to say *sigh*

Great to see you here, Greg!

 

[J Grant]

An ADU is what is defined by the municipality. It can be a separate structure or part of a finished basement. Gotta know your market to defined what you have.

A market does not define what is a a physical feature , a market can show how it REACTS to a feature wrt demand and price.

 

[Terrel L. Shields]

An ADU is what is defined by the municipality.

If you live in Fannie world, you need to learn to talk in Fanniespeak.

 

[Tim Hicks (Texas)]

It still a two family property.

 

[RSW]

It still a two family property.

Watch out. The Brit will block you, too.

 

[Fernando]

I have a property with a detached ADU.
My initial instinct was to separated the main house as the GLA and ADU as separate footage.
Then I checked MLS and tax records and both included the main house and ADU in total GLA.
Because this is for lending purposes, I had to separate the two gross areas and call ADU legal.