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FHA and Outbuildings

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Judy Whitehead (Florida)

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Florida
I may have asked this question here before, but I'm having a Friday afternoon CRS attack myself.

Does FHA consider value to detached/garage outbuildings? Or only whatever is attached to the residence?
 

EDWARD BERRY

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Arkansas
WHAT EVER THE MARKET SUPPORTS.
(RARELY EVER IN OUR MARKET WILL THE 2ND OR THIRD BUILDING BE SUPPORTED IN THE MARKET)
 

Ben Vukicevich SRA

Senior Member
Joined
Feb 9, 2002
Professional Status
Certified General Appraiser
State
New Jersey
Yep, and you can also VC Sheet condition them to death, including lead base paint abatement which also applies to the outbuildings buildings and any fences around those outbuildings...

Ben
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Since FHA and VA are much alike, let me tell you this little story about outbuildings.

V.A. Loan. Three outbuildings, one very much in disrepair. I required scraping, painting of first two, and second one to be removed from site since it was falling down.

Only one problem: There was a mama buzzard nesting in the third one and about to have little ones. Everybody threw up their arms and screamed about the V.A. appraiser having no feelings. Pressure was on and they called the V.A., V.A. called me and said they were sending this problem situation to Washington, D.C. since they didn't want to be the bad guys. Two weeks later a letter came from D.C. to me. The building must stay! So much for regs!

And, Ben...it wasn't in Hartly.
 

Wally Jones

Senior Member
Joined
Jan 23, 2002
Professional Status
Certified Residential Appraiser
State
Florida
You heartless appraiser, you!

Don't you know Mama mortgage brokers are an endangered species? :sniper:
 
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