GXX001 or Declaration 3

[OSU Beavers]

My subject is a large Victorian home. There is vegetation and scaffolding against the exterior of the main level therefore direct measurements of all exterior sides could not be make. Due to personal property stored in the basement and finished attic, direct measurements of all interior above and below grade sides were not made due to obstacles. I inserted GXX001 on page 1 and stated ANSI Z765-2021 Declaration 3 with the above explanation on the addendum.

Reviewer is stating that GXX001 is more for berm homes or non-conventional floorplans where typical above and below grade cannot be separated out. Please remove the code and simply explain why all measurements could not be taken and include how the GLA was derived utilizing the available sources.

My measurements were made the old fashioned, common sense way; by putting a tape or laser to three sides and figuring out the fourth.

Should I replace the GXX001 on page one with ANSI Z765-2021 Declaration 3?

 

[sputnam]

The GXX001 code is not per ANSI. It's per Fannie. If you 100% know that your appraisal is being used in a GSE conforming loan.. then maybe argue with the reviewer.... you'll end up losing, but you might feel better. If you aren't sure that it's for a conforming GSE loan... then just make the change the reviewer has asked for. BTW... as a consequence of arguing and losing, you may also get less work from that Client.

 

[Tom D]

Too lazy to ever measure 4 sides. Lucky i mostly do little row homes. Being anti ansi i have this comment in every report. I don't disagree with the reviewer.

I followed the ANSI Z765 standard when I measured the house. However, with obstacles around the house that precludes direct measurements, such as junk, debris, landscaping etc, and set-backs on upper levels or steep inaccessible walls with drop-offs, GLA is estimated and not guaranteed.

 

[OSU Beavers]

I was under the believe that GXX001 is used to inform the reader that the house was measured, but not to the tenth of a foot as required by ANSI standards.

The report is for a home equity loan, so no big deal changing it.

 

[shrubberyvaluation]

I was under the believe that GXX001 is used to inform the reader that the house was measured, but not to the tenth of a foot as required by ANSI standards.

The report is for a home equity loan, so no big deal changing it.

Don't think the reader cares, FNMA cares.

 

[CGinMN]

The GX code is for when you cannot comply with ANSI. If you used Declaration 3, then you are complying with ANSI and the code isn't needed. The reviewer is right.

 

[OSU Beavers]

I see where the confusion set is.

"When the appraiser is unable to adhere to the ANSI standard, the appraiser will provide the code “GXX001-” in the Additional Features field on the appraisal form and explain
why compliance was not possible."

https://singlefamily.fanniemae.com/media/36856/display

 

[OSU Beavers]

My understanding of the ANSI standard is directly measuring every side to a tenth of a foot, which was not possible on the subject due to vegetation and scaffolding against the exterior.

 

[CGinMN]

Nope, that’s just the most common and accepted way to comply with it.