Beth G
Freshman Member
- Joined
- Jul 30, 2007
- Professional Status
- Certified General Appraiser
- State
- Washington
I received an assignment from a client to appraise a converted single family home in a commercial zone. When I went to the inspection, I found that the owner had remodeled the home as a residence. She had advertised the home to lease as either an office or home but got someone who wants to rent it as a home. Do I do a highest and best use (commercial; it is across the street from all commercial but there are some SFR in the other direction) and appraise it as commercial and then address the functional obsolescence as such? It could feasibly be used as an office even though it is remodeled as a home but there are clearly issues of functional obsolescence (features that would not be seen in an office; oversized bathroom, kitchen, etc.). Thanks.