Cost to install an interior wall

[glenn walker]

Well if its a refinance the owner apparently has no issues with it and if its a sale then the buyer has no issues with it so maybe ya just got some strange folks in that area ?

 

[Fernando]

It's a bedroom and bath for spouses and if done nicely I wouldn't mind with the open space.

 

[sputnam]

Most lenders would have a problem with it... since most buyers would want some privacy while on the throne. That would have some impact on the marketability of the property... probably resulting in a longer marketing time.

 

[J Grant]

Why would lenders have a "problem" with it? A master bath is part of the master bedroom. It is a design style, kind of modern or done to open up space ( typically the toilet is behind a privacy wall / out of direct line of sight of room with a tub and sinks opening up ) I would never require a wall because it is not a repair item . It may not be mainstream design but it might appeal to some buyers, for the rest, a simple enough fix ( drywall and a door ) If a buyer liked the house and did not want the open bath they could easily remedy it after they move in. I would mention it would be a low cost option to close the bath off with a wall if a buyer wants to and leave it at that.

 

[glenn walker]

No Lender cares -We have quite a few around=here with open master baths , normally he toilet is in an-enclosed area behind a door but not always , the appraiser is leading down to a rabbit trail to review hell.

My first "stip" Appraiser please provide us with a minimum of one or two similar comparables with open master baths and what effect it has on value, current sale and future sale and marketability. Finally can you describe this in your cost approach and what percentage of functional obsolescence has it created. And your cost to cure ? Is the a repair or a cosmetic or architectural design that bothers you ?

THE TEST IS ONE SIMPLE FACT - If its a purchase than obviousness its not an-issue with the new buyer-and if so -he /she can re-arrange the master bed-bath - If it's a Refinance the owners live in it and have no problem - So now the appraiser has to ask themselves if they are trying to inject their personal preferences into the appraisal process. ?

 

[CANative]

"Functional obsolescence is the reduction of an object's usefulness or desirability because of an outdated design feature that cannot be easily changed. "

 

[glenn walker]

"Functional obsolescence is the reduction of an object's usefulness or desirability because of an outdated design feature that cannot be easily changed. "

"CAN" I was being a joker - I know its not Functional Obsolescence-BUT does the OP LOL )

 

[CANative]

"CAN" I was being a joker - I know its not Functional Obsolescence-BUT does the OP LOL )

I was just posting in general because that term kept appearing and the OP seemed to think a wall was NEEDED to cure something.

 

[jay trotta]

Is it a marketability factor ?

Each individual looks at it separately, makes the market interesting. Lender would have minimal questions, if comparable(s) were equal in acceptance. That would appear to be the appraisal problem; if no market indicators, why would there be a CTC ? Unless the Lender can provide supportive data, where would your adjustment come from ?

 

[glenn walker]

Is it a marketability factor ?

Each individual looks at it separately, makes the market interesting. Lender would have minimal questions, if comparable(s) were equal in acceptance. That would appear to be the appraisal problem; if no market indicators, why would there be a CTC ? Unless the Lender can provide supportive data, where would your adjustment come from ?


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