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Requied PUD on 2055 from

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Debra

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Hello!

I'm going to this home today and my sponser never filled out this section. It's on a highway so wouldn't I just put N/A on all of this PUD section? Thanks! :? :? :?
 

Robert Muir

Sophomore Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Utah
If its a PUD, fill out the correct information. If its a SFR, N/A should be satisfactory at this time.

Bob
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Debra,

I'm not sure what you mean by it's on a highway and I'm not going to ask about your sponsor never filling it out.

If the subject is in a PUD project, you need to get the information asked for on the top of the second page of the 2055. I get this through a combination of the County records and the Management Company. Ask the owner (or seller) for the name and phone number of the management company and call them. If they are not cooperative (many are not), have the owner call them since they are holding up their sale or loan. If there is a Realtor involved, have them call too. I include the management company name, contact person(s) I spoke with and their phone number in the report (this is CYA). MLS gives you the number for active listings and if I see any FSBO signs I include them (2 MLS/1 FSBO). For condos where no one could tell me how many parking places there are, I drive around and count them. Only have to do that once per project.

Hope this helps! I hate that section!!!!
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
If there is a mandatory home owner's association fee--it is a PUD and you need to do all the reseach & verification Pam mentioned. If the home owner's association fee is voluntary or there is not any fee what so ever--it is not a PUD. But you do need to describe what affects the property. Just be glad you are not doing an appraisal in Sun City--they have everyone confused with their recreational usage fee--and they are not a PUD!
 
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