• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Condo water heater

Status
Not open for further replies.
I know this is an FHA question, but it's also urgent, so I figure I'd get a quiciker response here. I did an new mid-rise building where there was no water heater in the unit (unless it was invisible). I looked in the underground garage and saw some locked vented doors, so I assumed that a central water heating unit could be there. The owner didn't seem to have a clue. I thought for sure when I contacted the PM they'd say water was paid thru the HOA dues since it appears to be central to the building, but they said only trash is paid. Are there central water heaters for buildings like this that meter how much each unit is using for billing purposes? I'm confused! Here's what I've put in the appraisal per FHA requirements:
"No individual water heater could be located anywhere in the unit. Therefore, appraiser makes the extraordinary assumption that water is heated centrally and that water heating system is most likely located behind locked doors in the underground garage."

So I take it if reporting on the 2005 forms you then also used CB4 to bring in that EA with? Or did you just violate the prohibition against adding assumptions that is built into the SOW?
 
It likely has an "instant" electric unit like other posters have opined. I own a 1/1 that used to have such, and you had to look to find it. The unit died, and I was faced with a hefty replacement bill. I put a 8 gallon fast recovery tank in it. It works fine, but if you want a 30-minute shower, you're going to get a shocker in 15 mins. :-)

Added: The idea that a condo project would be structured with central hot water with cost equally divided per unit is unthinkable. How would you like it if your neighbor turned her shower into a steam room on your dime? It's bad enough when a condo has unmetered use of water and you have owners fighting each other because of overuse.
 
Last edited:
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Back
Top