Multi-family addresses

[Mr Rex]

Be sure your addenda is in ALL CAPS SO IT STANDS OUT AT THE READER. I'm out here, some heifer expects me to buy her dinner.

 

[Doug Trites]

I run into the lenders wanting the legal to be changed all the time. I have also had different address for the same property. I just list one address on the form and disclose the other address in the addendum. I also handle the legal by having the legal provided the the taxing agent and then if the lender wants a different legal, I just cut and past it and label it as legal provided by the lender. Let the U/W fight the rest of the battle.

 

[Ms. Janet]

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

I like you Tim...:Emoticon_hug:



I might like Joker if he gave me a little baby cow the size of a poodle that didn't have scratchy hair like those disgusting cow seat covers.

 

[CCAAMO]

That is exactly how I do it, but lenders always want the URAR address to match their title documents, survey or sales contract. Then I have to decide whether it is a battle worth fighting. I have changed the address to the sales contract address and stated in the addendum that the legal address is only one address.

Which ever way I go, it seems to make somebody unhappy.

What do you do when everything you have says " XXXX Street," but the survey says "XXXX Drive" and they drew up the title documents to match the survey?

I have work to do, so I am procrastinating on the forum.

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When push comes to shove, eveyone usually will agree with what Title indicates is the correct address. If there is a disagreement, I put the address the Title Co. shows as the correct address and then in the addendum indicate that although Title Co. says the addresss is x, it is in infact y based upon whatever data you feel is more reliable. This will cover you and should make the lender happy since it now puts the Title company on the hook for the address.

Hope this helps, good luck.

 

[CCAAMO]

I'm out here, some heifer expects me to buy her dinner.

When did you meet my mother-in-law?

 

[Mike Boyd]

If there is a question about addresses, ask your client to send you a copy of the title report or some other legal document that supports their claim that it is not correct.

 

[Mztk1]

This problem used to happen to me a lot. I just put the address the title has (lender has) and write in the addendum that per the county records the subject address is.....I am identifying the subject with an APN, a legal description, photos and a map, I'm comfortable that I am not misleading anyone by not anally matching the street number with public record at the top of the report.

When it comes to the mailing address of the town, I definately put the mailing address city, not the actual city, and then I put in the addendum the actual city. When I appraised Jersey there was this one section of South Brunswick that had a Princeton mailing address. The South Brunswick people had the privledge of being able to show the underside of their chins and say in their best preppie accent "I live in Princeton", even though they didn't. The zip code and city address, at that time, had a market difference of $20,000 or more to identical houses on the opposite side of the street whose mailing address was, I believe, Monmouth Junction - not quite as prestigious, and both were in South Brunswick.

 

[CANative]

What's the post office got to do with legal addresses, whatever those are. Their job is to deliver stuff to the property with a certain number on it.

I don't trust title reports for situs addresses or the tax assessor's number. I've seen many title reports with errors or which are out of date. This is a due diligence item. Call the controlling authority and find out what's going on and report the information. The client will just have to redraw the docs.

 

[PropertyEconomics]

Is there a problem with going to the property and using the address it has on it?
The postal authority has complete control of addressing ... it is part of their mission. For us to think Title Companies never make a mistake would be to admit you have never appraised a property where the title company has missed something. I have ... numerous times.
I take a photograph of the address ... street sign, whatever it might be .. and send it to my client and say this is whats there .. YOU sort it out.
Its not my job. Im just going to report what I physically see and nothing more.
And if its 912 - 916 ... then thats the address that goes on my report. Simple as that.

 

[CANative]

Is there a problem with going to the property and using the address it has on it?
The postal authority has complete control of addressing ... it is part of their mission. For us to think Title Companies never make a mistake would be to admit you have never appraised a property where the title company has missed something. I have ... numerous times.
I take a photograph of the address ... street sign, whatever it might be .. and send it to my client and say this is whats there .. YOU sort it out.
Its not my job. Im just going to report what I physically see and nothing more.
And if its 912 - 916 ... then thats the address that goes on my report. Simple as that.

I don't believe the post office makes up addresses. The planning departments (or perhaps the assessor's office) at whatever municipalality which has jurisdiction have that responsbility.