Condominium Unit Number

[residentialguy]

different street number and a different unit number


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

Since it is not necessary for the address, it wouldn't be misleading or confusing to exclude it from page 1. I would remove it and explain your removal of it in your additional comments. Not a hill worth fighting for.

 

[Dublin ohio]

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

My take on your interpretation. Is that if the unit # is not part of the USPS address. You would not enter a unit number. My interpretation includes taking into account the commentary in the appendix. Where it states that not having a unit number would only be necessary in a limited number of instances. But I guess it would depend on what definition of limited is used. Unless the unit is in a mid or high rise building. Just about every condo I have seen. Does not have the unit # in the USPS address. I still believe that if a unit # exists, it should be entered. Maybe it is a geographical situation. If I only did condos in the suburban areas. I would almost never enter a unit #. Since mid and high rise buildings are extremely rare in the suburbs around here. But if I only did condos downtown. Where the vast majority are in mid and high rise buildings. Then I would be entering the unit # just about every time.

 

[DWiley]

My take on your interpretation. Is that if the unit # is not part of the USPS address. You would not enter a unit number. My interpretation includes taking into account the commentary in the appendix. Where it states that not having a unit number would only be necessary in a limited number of instances. But I guess it would depend on what definition of limited is used. Unless the unit is in a mid or high rise building. Just about every condo I have seen. Does not have the unit # in the USPS address. I still believe that if a unit # exists, it should be entered. Maybe it is a geographical situation. If I only did condos in the suburban areas. I would almost never enter a unit #. Since mid and high rise buildings are extremely rare in the suburbs around here. But if I only did condos downtown. Where the vast majority are in mid and high rise buildings. Then I would be entering the unit # just about every time.

My “take” was based on asking Fannie directly for a clarification. It is not my personal interpretation.

 

[jay trotta]

The USPS address is the mailing address, the Deed provides specific reference to a particular unit# for the Legal description. They can and should be different; the form asks for the Legal Description, generally why I include the deed within the report, no muss no fuss, all base's covered. The Client, therefore has all the ingredients for the legal reference for future use.

PS: there is an area in which I work that offers the USPS for two (2) different Towns, most often noted in the SEL as the Wrong mailing address Town. This dates back to when I first started work appraising, but long before that period. The postal service will never change it, and it definitely warrants a copy of the Deed for all parties concerned. Several similar area's exist in my market area.

 

[Dublin ohio]

My “take” was based on asking Fannie directly for a clarification

And their clarification was?

 

[Joe Flacco]

I don't understand what difference it makes other than some AMC system is programmed to reject it if it is not part of USPS address.

 

[Joe Flacco]

Just a example of the automated systems and their operators lacking intelligence.

 

[ctapraser]

From FNMA UAD appendix D (My bold)

Unit #


The appraiser must enter the address unit number/designator.

During the appraisal process if an appraiser determines that a unit number is not available for a property known to be a condominium, the appraiser must put a "-" in the unit number field. The "-" symbolizes that the appraiser has researched the property address and was unable to identify a unit number for the given condominium unit. This is only likely to be necessary in a limited number of instances. This format option is allowable for both the subject property and the comparable properties. The address and unit number must be provided consistently for the subject property throughout the appraisal.

Reporting Format:

Unit # – Text

1073/465 1075/466

REQUIREMENT

oops, (removed part)

If you get it from the deed (you found it during the appraisal process) you should enter it.
Does your report have a copy of the deed with the unit number...I would think the title would have the same copy of the deed showing the same unit number (if you got it from the deed).
If you know it you must enter it, ?

 

[DWiley]

And their clarification was?

Fannie told me that the unit number should only be reported as part of the address fields if it is actually part of the address. They said that a unit number that was part of a legal description, but not part of the address should not be reported in the address field. Having said that, it has been my experience that not everyone sought out clarification directly from Fannie, and instead developed their own policy. Since Fannie wrote the UAD, we follow their guidance on this matter.