Property class 280

[Edward OConor]

A MB that I have dealt with before sent me an appraisal for a property in zip code 11545. Thai tax records indicate the the use code is a 280 (estate). the original report (done in 12/07) is a p.o.s with all sales exceeding 1 year. The underwriter (obviously) kicked it back.

The property appears to have a main dwelling with a detached "servants" quarters. I know that this is not unusuall for the area. The original report was done on a 1025 as a two family dwelling. He has asked me to look at it to see if I could fix his problem.

This is the sole extent of my research as of this point.

My question is which form 1004 or 1025 is appropriate? It appears to be in one of those villages the are open on the third Wednesday of the month between 9-11 am if the clerk feels like working, so checking with the village will be near imposable.

Thoughts?

 

[leelansford]

A MB that I have dealt with before sent me an appraisal for a property in zip code 11545. Thai tax records indicate the the use code is a 280 (estate). the original report (done in 12/07) is a p.o.s with all sales exceeding 1 year. The underwriter (obviously) kicked it back.

The property appears to have a main dwelling with a detached "servants" quarters. I know that this is not unusuall for the area. The original report was done on a 1025 as a two family dwelling. He has asked me to look at it to see if I could fix his problem.

This is the sole extent of my research as of this point.

My question is which form 1004 or 1025 is appropriate? It appears to be in one of those villages the are open on the third Wednesday of the month between 9-11 am if the clerk feels like working, so checking with the village will be near imposable.

Thoughts?

Without knowing the legal use of the property, how can one render an opinion?

 

[Edward OConor]

Lee:

I understand your thinking. The Vanderbuilts, Rockafellers and the Roosevelts didn't worry about that kind of stuff when thay built these things.

It's a local knowledge issue since most of the estates were built prior to zoning and don't have C/O's.

 

[Pamela Crowley (Florida)]

Edward, Please be very careful with 'fixing' this MBs problem. Are you doing a review of another's appraisal report??? If you are going to comment on that other appraisal report, you must consider USPAP Standard 3. MBs are very dangerous to deal with like this. Just please be very careful with what you do and say.

 

[James Micozzi]

A MB that I have dealt with before sent me an appraisal for a property in zip code 11545. Thai tax records indicate the the use code is a 280 (estate). the original report (done in 12/07) is a p.o.s with all sales exceeding 1 year. The underwriter (obviously) kicked it back.

The property appears to have a main dwelling with a detached "servants" quarters. I know that this is not unusuall for the area. The original report was done on a 1025 as a two family dwelling. He has asked me to look at it to see if I could fix his problem.

This is the sole extent of my research as of this point.

My question is which form 1004 or 1025 is appropriate? It appears to be in one of those villages the are open on the third Wednesday of the month between 9-11 am if the clerk feels like working, so checking with the village will be near imposable.

Thoughts?

you are going to have to check with the village first, no way around that one.

 

[David Wimpelberg]

The long and short of it is that you have to know what you're appraising and what the client guidelines are.

Just because a property was improved prior to zoning doesn't mean that it doesn't have a CO. If it was ever mortgaged after zoning was enacted, chances are a CO (or CC - certficate of compliance) exists. Mortgages do exist on properties without COs, but that is not typical because on is likely to pay a higher rate for the additional risk.

With regard to form, it depends on who is doing the funding. If it's Fannie, you have to follow those requirements. Other lenders don't care what it on the property or what form you use, they just want the as-is value and the appraisal report.

 

[Mike Kennedy]

R280

Typically, IN NEW YORK, a Single Family Residential Property with Main Residence and either "summer use" / or year round family use only, detached accessory dwelling is classified as R-280. Single Family ONLY .......R-210. Legal Two Family - R-220

Village Zoning will enable you to determine either:

a. detached dwelling is still "summer cottage/use" only or

b. det.accessory unit has been converted to year round and

WHETHER use is restricted to FAMILY use/ NON-RENTAL...........only.......
(usually the case)

OR if ......Assessor Records have not been revised to reflect CONVERSION to a Legal TWO family Property - usually R-220 use classification.

** note: Assessors OFTEN tax properties with accessory units AS two family - THIS DOES NOT MEAN ......it has been legally converted to R220 Use!!!

Village Building & Zoning Ordinance rules - NOT Assessment Records.

** note 2: Just because a property is TAXED as a Two - does not mean that it may be RENTED - legally.

R280 USUALLY means Primary Single Family Residence with an accessory dwelling - which MAY or MAY NOT be utilized year round. Typically - R280 means the accessory may NOT be rented to non-family individuals.

Additional Consideration: In the event the site is reported as legal, non-conforming, pre-existing use, confirm whether the Accessory Use ......transfers on sale.

It does not ALWAYS transfer on sale.:icon_idea:

If Fannie form: R280 on 1004_5, R220 - 2-4 FAMILY.

 

[KenRossman]

You need to nail down the legal use. Just because it pre-dates the zoning code doesn't necessarily mean there is no C of O. It might also have a C of C or letter of non-conforming/pre-existing use in it's file, particularly if it was ever collateralized by a prudent lender.

 

[aprazer]

None of the villages in 11545 permit two family dwellings. Most of the original estates built prior to the zoning code are long gone. Most common are the main house, and gatehouse or cottage on reduced acreage. 280 can be anything with an outbuilding. The most common are gatehouses and servant quarters. IN GENERAL, none of the villages permit a rental use of any accessory building. The specific code for each village has a section regarding this. Typically, it can be utilized for staff, relatives, and certain occupations(there is a specific list for some)as a home office. There are also restriction as to the home office use-limits on employees and what business activities can be conducted. Also-I believe none of the villages let you alter a pre-existing non-conforming property in any way, otherwise you must conform to the current code.

 

[Edward OConor]

I have an intense dislike for appraising properties north of Jericho Turnpike with more than 10,000 sqft lots. I think I am going to pass on this one, I can produce more Archie Bunker appraisals in less time than just the research will take for this one, just not cost effective for me. The "HO's" estimate of value is 2.7 mil. The last appraiser charged $650.00 and they got what they paid for. Since I don't normally do this area what would a realistic fee range be?My guess is that a real appraisal should have cost over $1,000.00. I know that the MB would have a heart attack with a real fee.