Elizabeth50
Freshman Member
- Joined
- Jul 17, 2005
- Professional Status
- Certified Residential Appraiser
- State
- Minnesota
I need clarification on this HUD 4000.1 Handbook statement regarding underground liquid, high pressure pipeline easements. I have a property that extends into the easement by 50'. The structure is located 200' from that easement. The way I'm interpreting the Handbook, it doesn't clarify whether there is an acceptable distance from the pipeline easement to the house/structure. Since the subject's site extends into the easement, is it even able to get an FHA loan? Has anyone had this situation? I appreciate the input.
Here's the 4000.1 Statement:
"The Appraiser must identify if the dwelling or related property improvement is near high-pressure gas or liquid petroleum pipelines or other volatile and explosive products, both aboveground and subsurface. The Appraiser must determine and report the marketability of the Property based on this analysis. The Appraiser must notify the Mortgagee of the deficiency of MPR or MPS if the Property is not located more than 10 feet from the nearest boundary of the pipeline Easement."
Here's the 4000.1 Statement:
"The Appraiser must identify if the dwelling or related property improvement is near high-pressure gas or liquid petroleum pipelines or other volatile and explosive products, both aboveground and subsurface. The Appraiser must determine and report the marketability of the Property based on this analysis. The Appraiser must notify the Mortgagee of the deficiency of MPR or MPS if the Property is not located more than 10 feet from the nearest boundary of the pipeline Easement."