Do Outbuildings (sheds) Require HUD Compliance?

[Frank Bertrand]

Hello all I have a new to me client who is asking for a HUD appraisal on a $200 wood storage shed, and wants to know if it does not meet HUD, what is the cost to cure. Here is a 100 year old dirt floor wood shed sitting on the ground with no electric, water, etc. They quote appendix D, but I cannot read into it the fact that I have to appraise a no-value wood shed. thanks..

 

[Terrel L. Shields]

No is the short answer...unless you are living in it.

 

[Mr Rex]

Yes, is the short answer. FHA guidelines apply to the property and all property improvements.

 

[Pilgrum]

No is the short answer.

A 100 year old shed with a dirt floor? There may be some value for the wood for renovations and decorative purposes.
Would you give any value to a newer storage shed with a dirt floor?

 

[Mike Garrett RAA]

You are asked to appraise the shed only? Or, are you asking ..."does the shed have to meet HUD requirements when appraising a residential property"? Chipping and peeling paint is the only thing I can think of that needs compliance.

 

[Michael Pecora]

Lots of shed are not attached and would be considered personal property. In that case, HUD guidelines would not apply.

 

[Terrel L. Shields]

If the shed is your only improvement what knucklehead would try to go secondary market with it? As for compliance, a shed rarely has any issue requiring fixing. Only if it presents a danger to the buyer. In 20 years I can think of no stips over a shed.

 

[hastalavista]

If the shed is your only improvement what knucklehead would try to go secondary market with it?

Not even Rex's Avatar!

An FHA appraisal for a shed on a lot?
This is a land appraisal.

 

[Meandering]

Hello all I have a new to me client who is asking for a HUD appraisal on a $200 wood storage shed, and wants to know if it does not meet HUD, what is the cost to cure. Here is a 100 year old dirt floor wood shed sitting on the ground with no electric, water, etc. They quote appendix D, but I cannot read into it the fact that I have to appraise a no-value wood shed. thanks..

I'm with Denis and and Rex,

All improvements for HUD, and this is a land appraisal if there is no dwelling, unless a house is proposed to built there.

Did they ask you for a cost approach on a 100 year old dirt floor wood shed?

Highest and best, termite hotel? Firewood?

Did George Washington use it to rest in?

.

 

[Tim Hicks (Texas)]

If the shed is your only improvement what knucklehead would try to go secondary market with it? As for compliance, a shed rarely has any issue requiring fixing. Only if it presents a danger to the buyer. In 20 years I can think of no stips over a shed.

Chipped paint or health hazards anywhere on the property, including shed, fence, etc would require fixing.