basement garage

[MRosevear]

I currently did an appraisal on a property that has a basement garage, shop and a finished bedroom and bath. I indicated in my report a basement garage and was consistent with my reporting of this through the entire report. I included the garage within the unfinished sf of the basement and noted a basement garage on the garage/carport line. I also added an explanation on how the basement garage was adjusted with the sales grid. The banks quality control appraiser did not like the way I addressed the garage and has required the revise my report by taking the garage sf area out of the basement sf and indicate a 2-car garage on the garage line of sale grid. I do want to clarify there is no double dipping here and that I do have one similar sale. I have stood my ground and I'm currently in a ****ing match with this review appraiser. How do you handle basement garages? Am I wrong to stand my ground?

 

[Michigan CG]

If you included the garage area in the basement area and adjusted for the basement area you have double dipped.

Report the basement area separate of the garage area; they are not the same.

 

[OSU Beavers]

I don't include in as unfinished basement, but check the "Built-in" Garage box and value it there against garages of the comps on the same grid line.

 

[AnonApprsr]

Just separate it on the Square Footage Calculator and move on man.

 

[Mike Kennedy]

"I included the garage within the unfinished sf of the basement and noted a basement garage on the garage/carport line."


A Bsmt. Garage is a Garage; Unfin.Bsmt. is Unfin.Bsmt. The Reviewer is correct.

 

[Mike Garrett RAA]

The technical terminology is "built-in" garage. Do not the square footage of the garage as basement. Quite common in bi-level homes IN MY MARKET.

 

[Terrel L. Shields]

If you included the garage area in the basement area and adjusted for the basement area you have double dipped.

That is not double dipping. It is making the garage adjustment within the basement adjustment, which is similar finish and construction.

a quick check of the adjustment and likely the adjustment is about the same..so? why separate them? The only reason is to satisfy whining reviewers... I suppose I would separate them to shut them up but no small percent of the few basement garages that I encounter are just one big room with the "garage" on one end and the other end a shop, canned goods, the freezer, junk, etc. and other than stairs have little or no partitioning.

 

[MRosevear]

Okay, for the sake of discussion this subject is not a split entry, bi-level, or a tri-level. It is an older 1-story with a 1200sf basement, 300sf finished and 900 is garage & shop area. So should I deduct the 900sf from the basement or if the shop is 300sf , would I deduct 600sf and what if the shop area is open to the garage or divided by a wall?

According to Marshal & Swift I do believe there is a difference between a built-in garage and a basement garage. But that may be a discussion for another time.

 

[Mike Kennedy]

Total Bsmt. 600sf (300sf Finished Bsmt+300sf Unfinished Basement), 600sf Bsmt.Garage

 

[LI-Appr]

Different utility, different line adjustment. Reviewer is correct why break his shoes?