HPR/condo with Single Family Appeal

[xm2841]

Ive been given an assignemnt and completed an inspection on a property that has a single family appeal, legal description indicates a unit number and HPR (horizontal property regime) County assessor indicates its considered a condo. I can conclude we have a condo with a single family appeal. No other neighborhoods are around with this going on, the last sale in the neighborhood was in 2004. The list prices are in line with similar SFR sales/listings in the area. My question is, how do I compare a condo and a SFR to one another and what form is correct? 1073 or 1004? Regardless of what the lender has to say...

Any and all help appreciated.

Thank you in advance,

-JW

 

[Mike Boyd]

Number one, I would not call it a condo based on what the tax records tell you. Call a title company and ask to speak with a TITLE OFFICER (not an escrow officer or a
PR person.) The TO will tell you how they would insure it. Or, you can get a copy of the legal description you should be able to tell whether or not it is a condo.