Fannie Mae requirements for Subject Condominium Photos

[The Scholar]

If you are taking subject front and rear photos of a condo that's in a 5 story building which contains 50 or more individual condos, I typically take a photo of the entire building for my subject front and rear shots. Has anyone ever had a situation where the lender wants you to identify in the photo the actual portion of the building where the subject condo is located?

 

[Dublin ohio]

Never had that request. But I have labeled the unit in specific situations.

 

[Carnivore]

Here ya go

 

[Fernando]

I take photo of front door in hallway and rear photo of the rear either with patio or balcony. I always take photo of whole building.
My standards higher than Fannie or what is required.

 

[Tim The Enchanter]

Don't think I ever had that request. But the plat maps show the units and I include those, so they can see where in project it is.

 

[Tom D]

what's 5 stories, easy peezee. go back, ask the owner to stick their head out the window so you really know which unit it is.
no, never had that asked, but like above i do take a picture of their front door with the hallway showing. is that maybe what they really want? my standards are high & much higher than fernando's.
their door is actually the subject front if you want to be technical.

 

[Fernando]

what's 5 stories, easy peezee. go back, ask the owner to stick their head out the window so you really know which unit it is.
no, never had that asked, but like above i do take a picture of their front door with the hallway showing. is that maybe what they really want? my standards are high & much higher than fernando's.
their door is actually the subject front if you want to be technical.

Don't need to bother owner. Look at the rear and see neighbor's characteristics and you can figure out which unit from the outside.
Requires more work but Fernando's standard and consideration are higher than Tom's.

 

[Tim The Enchanter]

their door is actually the subject front if you want to be technical.

And if it's one of those "full service" high rises, the door is where you meet the doorman and the valet and security, and walk into the lobby.

 

[Carnivore]

And if it's one of those "full service" high rises, the door is where you meet the doorman and the valet and security, and walk into the lobby.

Great Point. Your usual common sense responses seem to escape some. Even Taking a Picture of a thirty-story Condo Tower can be very challenging. FTR I do not. I use existing MLS or GIS Photo's.

Rule #1 - Use Common Sense!

Hey Fernando, did you walk down or take a picture of the hallway(street scene) of all the comparable located in that thirty-story Condo Tower.

Side: Note: Condo-Tower's often have a security measure that use of an elevator is restricted to owners/occupants and Building Personnel. Even if you have a Pass Card or device it will often only allow you to go to the Floor your unit is located. Try get in the Parking Deck if your Unit does not have a Parking Space in the Deck.

Maybe the thread should be in the Watercooler. Better yet, let's put it on Facebook AppraiserForum and sit back and read the 300+ different responses.

Here is another Question/Stip you often get from AMC/Lender. Please state the estimated remaining economic life of your Condo or Complex/Tower. It get even more humorous when they ask the question of a Mixed Use Tower. My Answer: 100 Years.

Speaking of Mixed use. Another Stip, please explain if there is any detrimental effect on the Subject because of the commercial Use.

 

[Tim The Enchanter]

Even Taking a Picture of a thirty-story Condo Tower can be very challenging. FTR I do not. I use existing MLS or GIS Photo's.

There's a whole concrete canyon of them on Wilshire Blvd in Westwood.
I have parked on one of the side streets and get out for a little walk.
It's not too hard to get a full height shot of the high rises.

Century City on the other hand, this does not work so well. Nowhere close to park for a bit.
Drive and shoot.