Got Another Weird One FHA

[BRCJR]

Situation not as uncommon as many may think.

 

[Dublin ohio]

It is not taxed at all or identified as a parcel

That doesn't track with your op

. Based on GIS maps the opposing state does not recognize it as a parcel. One state taxes the whole parcel and if transferred would only needed to be recorded in the one state per state to state jurisdiction agreements.

 

[Xavier Hargrove]

That doesn't track with your op

Yeah, one state taxes it the other does not. There isn't a tax rate to compare between the two states because one state has not assessed taxes.

 

[Terrel L. Shields]

is if it was Oklahoma that it straddled...

Go sooners!

I know a liquor store that straddles 2 states. I know a 130 acre farm where there is one acre in Arkansas that you go thru to get to the other 129. The house is in OK. The one acre was necessary to get access to the farm without driving an extra 5 miles on dirt road.

But if the lender requires you find sales that straddle the line, i would tell them that is an unacceptable restriction upon the judgment of the appraiser and decline the assignment or tell them that this will require a fee of $8,000 and 30 days to complete and your comps may be 100 miles or more away.

 

[sputnam]

Use the sale from 25 miles away to build an argument that the market does not penalize a property for straddling the lines, not necessarily as a comp in the grid.

Agree. The only really, um, challenging parts of the assignment are describing that it's in two states and extracting the market reaction to it straddling the state line.