NWolvie
Junior Member
- Joined
- Jul 14, 2006
- Professional Status
- Certified Residential Appraiser
- State
- Washington
If anyone could help me out, none of my reference materials have a good definition of permanently attached/affixed. I was hoping someone could provide me with a definition and source reference to use. (Time to do some book ordering!)
Situation: I appraised a lakehouse a couple months ago. The lakehouse was down on a grade, with a 1 car garage at street level, and the main house and a "bunkhouse" down the grade, next to each other.
Due to the following NFIP guideline the lender is asking me to remove the value (minimal) for the bunkhouse and state that it is not permanently attached:
The NFIP allows 1 structure per flood policy. Separate structures and outbuildings that have value and considered permanent must have a separate flood policy. Outbuilding/separate structures would not need coverage if the appraisal specifically indicates no value AND the appraiser indicates that it is not permanently attached.
If I recall correctly, it is on a concrete footing/pier and wood post foundation (of course I have photos of all other structure's foundations, but not the bunkhouse).
Outside of it having contributory value (I did offer to appraise it with the hypothetical condition that it has no value), I'm wrestling with their "permanantly attached" argument. So far, I'm citing the following reasons for why it is permanently attached:
1) As an example, a fence may not have a concrete foundation, but it is still permanently attached/affixed and considered real property.
2) The bunk house has power and is heated.
3) The bunk house is down the grade, on the same level as the house. There is no physically or economically practical way to remove it.
4) If I recall correctly (I don't have a picture of the bunkhouse foundation), the bunkhouse is on a concrete footing/pier and wood post foundation.
I'm also pointing out: The garage is a seperate structure, on a concrete slab foundation, and has value. Wouldn't it require an additional policy as well?
If it helps, I can email anyone a pic of the bunkhouse as it sits next to the main house for better analysis.
Thanks!
Situation: I appraised a lakehouse a couple months ago. The lakehouse was down on a grade, with a 1 car garage at street level, and the main house and a "bunkhouse" down the grade, next to each other.
Due to the following NFIP guideline the lender is asking me to remove the value (minimal) for the bunkhouse and state that it is not permanently attached:
The NFIP allows 1 structure per flood policy. Separate structures and outbuildings that have value and considered permanent must have a separate flood policy. Outbuilding/separate structures would not need coverage if the appraisal specifically indicates no value AND the appraiser indicates that it is not permanently attached.
If I recall correctly, it is on a concrete footing/pier and wood post foundation (of course I have photos of all other structure's foundations, but not the bunkhouse).
Outside of it having contributory value (I did offer to appraise it with the hypothetical condition that it has no value), I'm wrestling with their "permanantly attached" argument. So far, I'm citing the following reasons for why it is permanently attached:
1) As an example, a fence may not have a concrete foundation, but it is still permanently attached/affixed and considered real property.
2) The bunk house has power and is heated.
3) The bunk house is down the grade, on the same level as the house. There is no physically or economically practical way to remove it.
4) If I recall correctly (I don't have a picture of the bunkhouse foundation), the bunkhouse is on a concrete footing/pier and wood post foundation.
I'm also pointing out: The garage is a seperate structure, on a concrete slab foundation, and has value. Wouldn't it require an additional policy as well?
If it helps, I can email anyone a pic of the bunkhouse as it sits next to the main house for better analysis.
Thanks!
