FHA Square footage question

[Tom D]

Very old urban where row homes were built without an interior bathroom. Had a rear shed with the john. When needed, you went to the local bath house. In the summer you hosed yourself down.

You think very old homes had a bathroom, yes and no.

 

[Zoe]

Very old urban where row homes were built without an interior bathroom. Had a rear shed with the john. When needed, you went to the local bath house. In the summer you hosed yourself down.

You think very old homes had a bathroom, yes and no.

I am not disagreeing with you based on time frame.

Today and then are different and I don't want original poster to get in trouble with HUD.

 

[jay trotta]

Hi-I am appraising a 1920 bungalow-long. The attic space has been finished to very livable quality but the stairs to access 2nd floor is through the bathroom. Can this be counted in square footage or finished attic space? Thanks in advance.

Do you have similar comps? IMO the real question, if so, how is the market reaction?

 

[Zoe]

FHA/VA are a little different however logistically the same. Both are clients because they both have skin in the game.

So, however you do it, make sure your let FHA/HUD know your reasoning and analysis. Don't call it GLA.

Report things like utility and heating/cooling/access/etc.

I need to know what the room is used for. If it does not have a window, you have serious health and safety issue and maybe on stairs also.

You may just need to call it storage and finished attic.

 

[Zoe]

If you just give it storage and finished attic label? You get rid of some functional utility issues. You can value it by depreciated cost or comparables or whatever on the attic space.

It still won't get rid of any health and safety issues. You will need to elaborate there.

 

[Zoe]

I left out what your current code may be in that jurisdictiion.

You could just say I'm sick and can't complete assignment. LOL

 

[shrubberyvaluation]

Hi-I am appraising a 1920 bungalow-long. The attic space has been finished to very livable quality but the stairs to access 2nd floor is through the bathroom. Can this be counted in square footage or finished attic space? Thanks in advance.

Sure, that is your call.

 

[Fritz in NY]

The probable reason you have this inspection is because the AMC "Staff Appraisers" turned it down as "too difficult" or "problem" property. Send it out to let the lemurs bid on it.