Age Of A House Less Than One Year

[SJ GLO]

I cannot find this addressed anywhere. What do you call the age of a 5 month old on a refi? UAD guidelines say new construction less than a year is zero, but the owner has been living in this one for 5 months. Thanks

 

[Deleted member 134708]

Just put 0 on page 1. Then in comment state 0 shown due to strict nature of UAD form. Actual age 5 months

 

[SJ GLO]

That's what I did but it was bumped back by the bank's in house review appraiser stating that it is not zero. I can't find any clarification.

 

[Deleted member 134708]

Numbskulls. Then put ~1 and state same. Due to strict nature of UAD, not possible to rate in non-integer. ~1 shown. Actual age 5 months

Edit: Put ~0 or ~1 and explain. Reviewer an idiot but put whatever makes pass. Make sure put "~"

 

[Tom D]

the bigger question is what c did you put in. lotta discussions about that, but i guess if it's not 0 years you put what?
whenever asked to do what you think is not to your liking, do it, but explain it somewhere.

 

[The Warrior Monk]

State:

"5/12 is rounded to the nearest integer, which is 0. This has been confirmed in my child, who learned this in her 5th grade math class."

 

[gregb]

I cannot find this addressed anywhere. What do you call the age of a 5 month old on a refi? UAD guidelines say new construction less than a year is zero, but the owner has been living in this one for 5 months. Thanks

If you type the year built in the uad field, your form's uad protocal will auto fill in the age of the subject and the comparables.

 

[SJ GLO]

I called it a C2. I left it as -0- and added an extra comment regarding its age (though one was already there) and we agreed to disagree regarding the age.

 

[Vermonter]

If it was built 5 months ago the year built on page 1 would be 2015, so technically it will show as 1 year old in the grid (if your software auto populates). Think you could go either way with an explanation of course.