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FHA Garage Conversion

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FMan222

Thread Starter
Freshman Member
Joined
Jan 16, 2008
Professional Status
Appraiser Trainee
State
Texas
:icon_idea: HI,

I am appraising a home that is going FHA.

It has a garage conversion to a family room , it is opened up to the main living area and has Central HVAC, canned lights and is similar to main living area:shrug: .

I cant find were the garage stops in the main living area.

Should i include it in the sq.ft . I was told you back out the garage conversions even if it is similar to the main living area.

I couldnt find anything about FHA garage conversions/

I tried calling my local HOC office and they won't answer.

Please help!!!
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Your license level on your profile is listed as Appraiser Trainee. If that is so, then why are you working on an FHA assignment?
 

FMan222

Thread Starter
Freshman Member
Joined
Jan 16, 2008
Professional Status
Appraiser Trainee
State
Texas
I am Certified, I dont know why that says that, I emailed trying to change that.

Sorry
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Finished, heated, access to interior, I would include it in GLA; however, the contributory value may be off-set of the loss of a garage.
 

FMan222

Thread Starter
Freshman Member
Joined
Jan 16, 2008
Professional Status
Appraiser Trainee
State
Texas
Thank you and i appreciate your response. There are alot of mean people on this board and they call them self appaisers . They forgot they needed help too at once.

Thanks and have a great Day!!:new_smile-l:
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Finished, heated, access to interior, I would include it in GLA; however, the contributory value may be off-set of the loss of a garage.

Whereas, I would not. Years ago, HUD put out a circular regarding this subject. I have always handled it this way. I do so on my non-HUD appraisals because it make the most sense.

Sometimes a mean appraiser has the right answer, when a nice one does not. :rof:
 
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FMan222

Thread Starter
Freshman Member
Joined
Jan 16, 2008
Professional Status
Appraiser Trainee
State
Texas
Thanks for the information. :clapping:
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Tom...with all due respect, I think you will find that circular to be outdated.
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Tom...with all due respect, I think you will find that circular to be outdated.

Mark,

Well then, show me where they have changed that policy on handling garage conversions then. I was given that in 1995. It may be dated, but how can you proclaim it outdated? If they had changed their policy on garage conversions, don't you think they would have provided a new circular or policy on the issue? Maybe they have and I have missed it.

Tom
 
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Gary Leduc

Junior Member
Joined
Jul 23, 2002
Professional Status
Certified Residential Appraiser
State
Georgia
According to a FHA REO company I do work for, they specifically DO NOT want converted garages or carports included in SF unless there are work permits verified for this conversion.
NO WORK PERMITS = NO SF ALLOWED.
 
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