ANSI and basements

[Tom4value]

ANSI is a measurement standard. Not a reporting standard. Statement #2 in the FNMA statement of limiting conditions that we sign. States that the appraiser has provided a sketch of the improvements (I am paraphrasing). Is the basement not part of the improvements?. Many of my clients have it as an assignment condition.

Every single proctor of ANSI has said that what the new regulations are is a “reporting standard”.

Yes, on some assignments the client wants a basement in the sketch. However, most of them don’t. For a dinky-*** ranch, it is not a problem. For a 3 floor contemporary, it is a bi ach to have it fit on the sketch grid.

 

[Terrel L. Shields]

an 8,000sf home. I was a rookie and it was my first really big house.

Been there done that. The house? 3 levels, an elevator and 1600 SF boxes set one on the other at 45 degrees to the box above and below with 2 levels of wrap around porch, a basement level that was concrete walls, a commercial kitchen with walk in freezer and walk in refrigerator....The owners came about 4 or 5 times a YEAR...Two people maintained the house and grounds. My mentor looked at the house and the need for a 50' ladder and said, "I think we can trust the assessor's figures." And we did. Couldn't get a good rear view because it was on the edge of a cliff and you would fall into a 40 acre lake on the property.

 

[OSU Beavers]

Are you measuring from interior wall to interior wall or to where you "think" the exterior wall of the basement is?

Note that the difference between the surface of the above grade wall finish is often 1/10 a foot or more difference than the exterior of the foundation wall.

 

[Dublin ohio]

One says you have to include the basement, finished or unfinished, in the sketch. Another says you don't. On the third, the two instructors contradicted the other!

Every single proctor of ANSI has said that what the new regulations are is a “reporting standard

If they were the same proctors. What is you point. If they can't even decide what to report.

 

[sputnam]

I have seen three video classes on ANSI. One says you have to include the basement, finished or unfinished, in the sketch. Another says you don't. On the third, the two instructors contradicted the other! Can someone please tell me if basements are a mandatory requirement on a sketch when ANSI is required?
Thanks

ANSI is a standard for measuring and calculating the area of single family dwellings. It's not the standard for what you have to include in your appraisal report. Fannie/Freddie/FHA/VA/your Client set the requirement for what sketches have to include.

 

[sputnam]

Every single proctor of ANSI has said that what the new regulations are is a “reporting standard”.

They misspoke. The regulations are from Fannie/Freddie. Not ANSI. Fannie/Freddie wants you to measure and calculate using the ANSI standard and the reporting requirement is to say that you did.

 

[Tom4value]

ANSI is a standard for measuring and calculating the area of single family dwellings. It's not the standard for what you have to include in your appraisal report. Fannie/Freddie/FHA/VA/your Client set the requirement for what sketches have to include.

Yes, I know that. To be clear, what does Fannie/Freddie want?

 

[Dale Floyd]

Sketch the basement in your report. Use ANSI standards to measure it.

 

[Tom4value]

It’s $25 and thirty minutes of your time. Just do it.

Perhaps you didn't understand my question. I asked if Fannie is requiring the basement added to the sketch. I was not asking what YOU think I should do

 

[Tom D]

i have not seen basement drawing mentioned by fannie may. i have been doing them for a long time. usually it's been a lender decision.
but i myself have never considered your question. i suppose that if you don't, then the 1st time you have to go back to measure it, you will do it all the time.
considering it's usually the foot print of the dwelling, a simple copy & paste. i suppose that little attention paying to your sketch shows the lender that you do a better drawing.