Multi-family addresses

[Tim Hicks (Texas)]

Here is something I come across quite often. I receive a multi-family appraisal request for 1049-1051 Irene or 1049-1055 Irene. I do may research and the tax records show only one parcel with only one address (1049 Irene). When I arrive at the property, one side is 1049, the other is 1051, and/or so on.

On the appraisal, since the legal address is only one number (1049) and there is only one parcel, I only put that single address on the appraisal report. Of course, the mortgage company always wants me to change it. I always resist because the legal address in only one number. What say you guys and girls? Am I just a mean old appraiser who refuses to play well with others.

 

[Narkissos]

That is how I have always done it as well. I have never had someone request it be changed. I generally scan in the legal and parcel ID# showing only the one address, legal...... I do however photograph both addresses and comment on why only one address was utilized.

 

[Mr Rex]

How are you defining legal address? A legal address is the US Postal address, of which you have 2. Postal addresses are not considered adequate as legal description. I think you are intermingling 2 distinctly different "legals".

 

[leelansford]

How are you defining legal address? A legal address is the US Postal address, of which you have 2. Postal addresses are not considered adequate as legal description. I think you are intermingling 2 distinctly different "legals".

Yes.

Use the US Postal mailing address.

Reference this as your source and, further, provide comment regarding other addresses that may commonly be associated with the property.

 

[Joker]

Mr. X is right. I include the postal addresses associated with the property and the legal description.

And no, you don't play well with others (or so I've been told by someone close to me).

 

[Tim Hicks (Texas)]

I knew this would be a fun discussion. I explained to the lender that 1049-1051 Irene as they ordered it would include 1050 Irene across the street, but they did not see the humor in my response.

A property can have a postal address different than it is legal address here in TX. In fact, we have many properties that will be in the city limits of one city, but have a mailing address of another city. You would report the property is one city, when it is actually in the city limits of another?

I don't see how intermingling legalities is an issue here. The tax office does not recognize a 1051 Irene. :Eyecrazy: The postal service does not define legality.

 

[Tim Hicks (Texas)]

And no, you don't play well with others (or so I've been told by someone close to me).

Is that the heifer you have for sale? What the heck, she can't like me any less.

 

[Joker]

In my market the address of the property is:
1048 Irene
and
1051 Irene.

The tax bill probably goes to a PO box and the legal description is "lot 36 of the Hicksville addition to the city of Hooterville, My County, My State"

The identifiers I use are the addresses, the legal description, and the parcel number. The address is not a legal description.

 

[Joker]

Is that the heifer you have for sale? What the heck, she can't like me any less.

She will now

 

[Mr Rex]

The line that requires an "address" requires a zip code. That's postal service, and postal service says there are 2 addresses. So you are mixed up, legally or not.