Does ANSI apply to attached condo's. BofA is requesting exterior dimensions..

[greg dueck]

Does ANSI apply to attached condo's. BofA is requesting exterior dimensions..

 

[shrubberyvaluation]

Does ANSI apply to attached condo's. BofA is requesting exterior dimensions..

ANSI applies to townhouse/rowhouse style condos.

Q11. Does Fannie Mae require condominiums to be measured per the ANSI standard? Irrespective of ownership type (Condominium, Co-op, Fee Simple, etc.), the ANSI standard must be followed (if legally permissible – see the Annex to the ANSI standard, page 4, for more information) for houses with detached or attached architectural design including townhouses, rowhouses, and other side-by side houses. The ANSI standard should not be used if the architectural design is an apartment-style or multifamily building. When measuring a condominium or co-op that is part of an apartment-style or multifamily building, Fannie Mae’s policy of using interior perimeter measurements for the subject property should be applied.

 

[nofx4us]

From Fannie's FAQs from last month:

Q11. Does Fannie Mae require condominiums to be
measured per the ANSI standard?
Irrespective of ownership type (Condominium, Co-op, Fee Simple,
etc.), the ANSI standard must be followed (if legally permissible – see
the Annex to the ANSI standard, page 4, for more information) for
houses with detached or attached architectural design including
townhouses, rowhouses, and other side-by side houses.

The ANSI standard should not be used if the architectural design
is an apartment-style or multifamily building. When measuring
a condominium or co-op that is part of an apartment-style or
multifamily building, Fannie Mae’s policy of using interior perimeter
measurements for the subject property should be applied.

 

[Kanon18]

From Fannie's FAQs from last month:

Q11. Does Fannie Mae require condominiums to be
measured per the ANSI standard?
Irrespective of ownership type (Condominium, Co-op, Fee Simple,
etc.), the ANSI standard must be followed (if legally permissible – see
the Annex to the ANSI standard, page 4, for more information) for
houses with detached or attached architectural design including
townhouses, rowhouses, and other side-by side houses.

The ANSI standard should not be used if the architectural design
is an apartment-style or multifamily building. When measuring
a condominium or co-op that is part of an apartment-style or
multifamily building, Fannie Mae’s policy of using interior perimeter
measurements for the subject property should be applied.

Thank you for this information. I took a class the end of March and the instructor specifically stated numerous times that ANSI is ONLY to be used for single family ownership and 1004 forms. Just turned in a detached condominium and got conditioned. Feel like a dummy! These instructors need to be in line with Fannie in my opinion.

 

[nofx4us]

Thank you for this information. I took a class the end of March and the instructor specifically stated numerous times that ANSI is ONLY to be used for single family ownership and 1004 forms. Just turned in a detached condominium and got conditioned. Feel like a dummy! These instructors need to be in line with Fannie in my opinion.

Don't feel like a dummy. My understanding is that this ANSI requirement came out, and some schools (McKissock) rushed a class together without getting their facts straight. I took a live class that was felt much more informative, based on what others got out of the McK class. Mine was through Appraiser eLearning

 

[glenn walker]

Thank you for this information. I took a class the end of March and the instructor specifically stated numerous times that ANSI is ONLY to be used for single family ownership and 1004 forms. Just turned in a detached condominium and got conditioned. Feel like a dummy! These instructors need to be in line with Fannie in my opinion.

A Detached Site Condo has always been exterior measurements . Attached Condominiums are interior measurements because you are conncted to another unit .B of A Is correct on this one..

 

[Kanon18]

A Detached Site Condo has always been exterior measurements . Attached Condominiums are interior measurements because you are conncted to another unit .B of A Is correct on this one..

Yes, I did take exterior measurements, was just annoyed that my instructor stated NO ANSI on any condo ownership only 1004 form.

 

[Kanon18]

Don't feel like a dummy. My understanding is that this ANSI requirement came out, and some schools (McKissock) rushed a class together without getting their facts straight. I took a live class that was felt much more informative, based on what others got out of the McK class. Mine was through Appraiser eLearning

Yes, it was Mckissock. Maybe I will start using Appraiser eLearning.

 

[Fernando]

I had a semidetached PUD townhome. I measured the exterior part but inside I did an interior measurement to the attached side.
Am I suppose to estimate the wall thickness on the attached side?

 

[Kanon18]

I had a semidetached PUD townhome. I measured the exterior part but inside I did an interior measurement to the attached side.
Am I suppose to estimate the wall thickness on the attached side?

Yes, you do have to estimate the wall thickness is what I learned in my class, although I am not all that confident on what I was taught LOL.