Condominium Unit Number

[residentialguy]

It may not be the USPS mailing address, but they don't require the USPS address.
The legal address is the physical address (aside from lot/block, cic, etc). The unit number is part of the physical address. How do they differentiate from 222 Main Street, Unit A2?

 

[residentialguy]

The unit number is a separate field. Does not fall under same requirement as property address, city, state and zip code.

Here is the link to the appendix. https://www.fanniemae.com/content/technology_requirements/uad-specification-appendix-d.pdf

Thank you..I was just going to post that

 

[NJ Valuator]

Does the attached units next door have a different street number or the same street number with a different unit number?

different street number and a different unit number

 

[NJ Valuator]

Does the attached units next door have a different street number or the same street number with a different unit number?

different street number and a different unit number

Thank you..I was just going to post that

View attachment 35883

I know that they are going to come back and say that it is not an ADDRESS Unit # since it is only reported in the deed and nowhere else. If the sentence was that "The appraiser must enter the unit number/designator" without the word address in it then I would be good shape, but I just know that they are going to say that this is not technically an ADDRESS unit number

 

[NJ Valuator]

Thank you..I was just going to post that

View attachment 35883

If sentence was "The appraiser must enter the unit number/designator" without the word address as part of it then I would be good shape, but I just know that they are going to come back and argue that this is not technically an ADDRESS unit number since it is not reported anywhere other than the deed

 

[jay trotta]

Ok here is the situation.

According to the subject's deed, it contains a unit number. Let's say for the purpose of this scenario the subject's address is 222 Main Street and its Unit Number as per its deed is A1. The A1 is not reported anywhere physically on the subject's unit nor is the unit number used in its USPS address. However, since this unit number is on the deed's legal description, I included it in the report as Unit A1.

Since this Unit Number does not show up in the title report, the client wants it removed. They are citing that because it is not part of the USPS address that it should be eliminated from the report. I disagree; I think that it should be included.

Would you include the unit number if the only place it is reported is the subject's deed?

Had similar scenario a few times, The Legal Description, is what it is and I always include the Deed in the report as a reference; don't care what the Title guy or gal thinks. Fill out the report accordingly and they (Client) can provide a copy of the Deed to the "Title Searcher". They can't get "personal property" insurance coverage without the Deed referenced number.
Good luck

 

[DWiley]

If it is a UAD appraisal. Just refer them to the FNMA UAD requirement I posted earlier. Has worked for me every time it comes up. Asked one AMC reviewer if they were asking me to lie in my report. Never heard back

Well, this is what you posted: The appraiser must enter the address unit number/designator.

Note that it refers to the address unit number

 

[Mark K]

It sounds like you're putting part of the legal description in the address area.

It should be included in the legal description section but not in the address section.

For example, Block 1, Unit 3 is part of the legal. In most cases, Unit 3 is not part of the physical address.

 

[timd354]

Well, this is what you posted: The appraiser must enter the address unit number/designator.

Note that it refers to the address unit number

That is exactly correct and it should be noted that sometimes an address unit number is different from the legal unit number. I have appraised several condo units in which that was the case.

 

[DWiley]

That is exactly correct and it should be noted that sometimes an address unit number is different from the legal unit number. I have appraised several condo units in which that was the case.

Yes, we have several projects like that in Nashville where the unit number in the address is separate and different from the unit number in the legal. It is not typical, but it is also not that rare.