Lender and AMC claim residential appraiser can do this appraisal-opinions

[Zoe]

you may have to do income capitalizion approach on it. sales comparison may not work. cost approach would work.

 

[Zoe]

we have strict code in places locally. The rental units may have no value at all.

If you can't rent the units out legally, forget income cap approach.

 

[George Hatch]

The zoning map (Darby Township) shows the zoning at R1. So the apt might make it a non-conforming use. Unless some portion of the main structure is configured specifically for non-residential use there is no reason to call it a commercial structure.



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[Zoe]

Is brothel legal there? Bed and breakfast? Idk.

 

[Zoe]

I digress. What does previous owner or current owner use the units for?

 

[Surf Cat]

Looking at it through a California lens, that's a lot of bang for the buck! You get a place to live, rentals, and a business set up and ready to go for under 500K...

 

[Zoe]

I have limited info. I can't even think about MV appraisal on the subject.

They say dogs cannot see colors. My vet could not even answer that question. Dogs can see at night really well. Some say their eyes can pick up moonlight at darkness.


I won't argue with that. I know for a fact dogs and cats and other creatures can see at night unlike humans without something to help a human. When they got bin laden, they had night vision glasses on. They pick up moonlight.

I asked vet do dogs only see black and white? He didn't know.

I wore night vision glasses in really stark dark bathroom with no windows that a detective let me take in. It was wild. I could see the bathroom. It had a little green/yellow tint to it. No light on the glasses. They pick up moonlight.

Those special agents that got Bin Laden had those glasses on. He stood no chance.

 

[JTip]

YOU set the scope, NOT the client.

 

[George Hatch]

BTW, I would never assume a broker knows what they're talking about WRT appraisal issues, including HBU analysis. That's not their job.

 

[Dublin ohio]

The zoning map (Darby Township) shows the zoning at R1. So the apt might make it a non-conforming use. Unless some portion of the main structure is configured specifically for non-residential use there is no reason to call it a commercial structure.

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Not calling it a commercial structure. The apartments are a non conforming use and are also not one of the allowed conditional uses. This property is about 20 minutes from my house and I have done numerous appraisals in Darby township. How do you put this on an 1004