- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
I had an appraiser buddy call me today with a question I thought I knew the answer. He just did an appraisal in a gated addition and checked "private" in the street, curbs, gutters, etc. boxes. The lender is making him change it to "public". I don't agree. The lender says that the city still services these items and that makes it public. I say, you put a gate up that does not allow public access, then it is "private". Plus, if these are public streets, how does the city get access to service them. Then he mentioned an established addition next to his office that has always had open access, but is now gated with a guard. It was "public" and is now "private" but the city built the streets, so shouldn't they service them. What say ye? I suggested checking with the city, but that could get you any answer depending on who answers the phone.