• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

FHA Condo Appraisals-site Area

Status
Not open for further replies.

adia9

Freshman Member
Joined
Aug 10, 2006
Professional Status
Certified Residential Appraiser
State
Virginia
Hi please help.! I am working on FHA appraisals in Loudoun County for condos and Underwriter is asking what is the site area for my subjects project . Typically, for condos tax record indicates site area to be 'zero' . I am not able to find where to find the condo project's site area . I called Loudoun county assessors /appraiser and they do not know the answer either. Can someone please help guide me to find this answer or provide a response to the underwriter.
 
Last edited:

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
What she wants ( The entire size of the site the project is located on so pull up the plat map and see what the approximate size is sometimes we get lucky and it's marked condo 5 acres etc. if not sure scale it out the best you can and use that number.
 
Last edited:

Noreen

Senior Member
Joined
Feb 5, 2011
Professional Status
Certified Residential Appraiser
State
New Hampshire
Or go to the master deed and find Book/Page for the condo as recorded, it should be on that site plan.
 

BuddyKat

Junior Member
Joined
Jul 29, 2007
Professional Status
Certified Residential Appraiser
State
Virginia
What Condo? PM me if you want to.
 

adia9

Freshman Member
Joined
Aug 10, 2006
Professional Status
Certified Residential Appraiser
State
Virginia
What Condo? PM me if you want to.
Buddy , this is for Courtlands at Cascades , address 21150 Domain Terr .. Are you familiar or know the project site size? I have looked all over and can not find anything or it . Any help would be appreciated.
 
Last edited:

adia9

Freshman Member
Joined
Aug 10, 2006
Professional Status
Certified Residential Appraiser
State
Virginia
Thanks for responses !
 

BuddyKat

Junior Member
Joined
Jul 29, 2007
Professional Status
Certified Residential Appraiser
State
Virginia
That is listed as Potomac Lakes Subdivision and Courtlands at Cascades is not shown separately. Pulling it up on the overhead I measured it to be 473' x 543' x 448' x 576', which should be about 5.19 acres. Hope this helps.
 

adia9

Freshman Member
Joined
Aug 10, 2006
Professional Status
Certified Residential Appraiser
State
Virginia
That is listed as Potomac Lakes Subdivision and Courtlands at Cascades is not shown separately. Pulling it up on the overhead I measured it to be 473' x 543' x 448' x 576', which should be about 5.19 acres. Hope this helps.
Buddy , thanks for the info. This particular project only has 136 units . I know Potomac Lakes division is pretty large including over 500+ properties . Would you still use 5.19 acres for this situation ?
 

BuddyKat

Junior Member
Joined
Jul 29, 2007
Professional Status
Certified Residential Appraiser
State
Virginia
Have you called TWC and ask them if they know the site area, if they don't have the site area see if they will let you come by and view the condo docs. They are located on Herndon Pkwy and have usually been helpful. If they don't have it I would use the 5.19 ac with a statement in the addendum something like "The appraiser attempted to obtain an adequate amount of information in the normal course of business regarding the subject property, however the standardized responses required by the UAD, could mistakenly imply greater precision and reliability than is factually correct. The site area is from appraiser's measurement of Loudoun County tax records and should be considered approximate".

Sorry, I don't have the site area for this Condo, I do have it for some of the others.
 

adia9

Freshman Member
Joined
Aug 10, 2006
Professional Status
Certified Residential Appraiser
State
Virginia
Have you called TWC and ask them if they know the site area, if they don't have the site area see if they will let you come by and view the condo docs. They are located on Herndon Pkwy and have usually been helpful. If they don't have it I would use the 5.19 ac with a statement in the addendum something like "The appraiser attempted to obtain an adequate amount of information in the normal course of business regarding the subject property, however the standardized responses required by the UAD, could mistakenly imply greater precision and reliability than is factually correct. The site area is from appraiser's measurement of Loudoun County tax records and should be considered approximate".

Sorry, I don't have the site area for this Condo, I do have it for some of the others.
Thanks Buddy. You were very helpful. I'll stop the office Monday and if no luck , apply the statement.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks