Multiple properties on same deed

[2020]

I have an order for three separate single family residential properties but they are all on the same deed. How should I handle this?

 

[Meandering]

1st question.

Is the order from a lender for a loan?

 

[2020]

1st question.

Is the order from a lender for a loan?

It is from a lender, intended use is to ascertain market value, and loan type is other.

 

[BRCJR]

Do they each have their own parcel identity or all improvements are on the same parcel?

Does the deed have different legal descriptions for each improvement?

 

[2020]

Do they each have their own parcel identity or all improvements are on the same parcel?

Does the deed have different legal descriptions for each improvement?

They all have their own parcel identity and on separate parcels. The deed does have different descriptions for each improvement.

 

[Meandering]

They could be sold separately then.

Just note in each report, the deeds were combined into a single deed, but the properties are separate and could be sold individually.

.

 

[sputnam]

What's the problem? The deed contains the legal descriptions of the properties but, it isn't the legal description. The deed tells you who bought, who sold, what was transferred, when it happened, and sometimes, the price. It doesn't bind the properties together into one unit. Just report the legal description for the subject property on each report.

 

[Terrel L. Shields]

It is from a lender,

No problem since it isn't secondary market apparently.

intended use is to ascertain market value,

No problem

They all have their own parcel identity and on separate parcels.

No problem. You have a choice. 3 separate reports or, if in house, personally I appraise each under a master appraisal normally. But ask the lender if they want 3 reports or they want all three in the same report. If you don't do narratives, then tell them it is easier to do them as 3 separate reports. You can write a master, with all the information that is common to all three, clone that as 2 more reports. Then complete separately.

For me, a narrative is just easier - unless of course, the three properties are disparate and scattered over the county or something. But if in the same area, the master report is prepared, then each gets its own section and valuation.

 

[Elliott]

When a timber company sells all their holdings to another company the deed runs hundreds of pages of legals. Not a big deal.