Two homes one lot

[Pekejake]

I declined the order but for future.. how would one handle this..

Home was bought at estate sale in needed tlc. Home is on a double lot and homeowner has kept old home (bad condition) and is currently building another home on property.. assumed detached.. This is all one property.. Assuming it meets all setbacks, zoning ordinances, etc..

The area i believe is mostly single family..

This is now a two unit property to be done on a 2-4 unit.. My comps will lack.. I would not be able to find a lot with two single family homes on it..
How would i tackle this?

 

[Chris Colston]

How would i tackle this?

By SEARCHing the forum for similar topics such as the one below. Start around post number 9 in the referenced thread:
http://appraisersforum.com/urgent-help-needed/107316-two-houses-one-parcel.html

There are other threads like this. 2 houses on 1 lot seems to be one of the hot :new_ukliam2: topics, lately.

 

[Pekejake]

Ive read the thread. I didnt dig too deep with homeowner since i declined the order.. Based on conversation.. it appears the other home he is constructing is not subordinate to the main house.. The main house is tiny and bad condition. He is now building a bigger home.. not really an accessory dwelling.

 

[Webbed Feet]

Ms. Krumm,

One starts any such assignment by making a trip to the planning department, permit department, etc. Where one is liable to find that the permits for the new house say the old house must either be decommissioned (used as a barn etc) or be torn down as soon as the new house is occupied. You have to know what is going on and what is going to be allowed before you can appraise such a property. Relying on property owner statements is extremely short-sighted.

Barry Dayton

 

[Pekejake]

Barry, Lets say HYPOTHETically. Im obviously not going to get any more data since im not being paid for it and its been declined. As stated before.. lets say it meet all city requirements.. The existing house needs work but not condemnable.. He is living in the existing house and new house is being built.. Would this need to be done on a 2-4 unit? My guess is yes.. since its not really a substandard building being erected. You have one structure that needs tlc while the other would require review of plans, specs.. Comps would have been difficult to find.. When looking in MLS data it will show duplexes, triplexes, etc.. chances to none there would be any parcels with two single family homes..

 

[Mike Kennedy]

Lori- would be very helpful to post the location ......refer to Chris' post above......also consider Highest & Best Use........Single Family Dwellings with accessory / non-rental guest houses/cottages etc. will find hundreds of prior postings with all the aspects you would consider.....good 1-2 hours of researching on here will give you what you need. Enjoy it!

also "Would this need to be done on a 2-4 unit? My guess is yes.. since its not really a substandard building being erected. You have one structure that needs tlc while the other would require review of plans, specs".....

Most Probably Not.

 

[Ken Miller]

What about figuring out how much it would cost to demolish the old home and adjusting in your sales grid for demo and clean up assuming the new house meets all building and zoning requirements.

 

[Smokey Bear]

Isn't this the Monday question?

 

[Pekejake]

Ken, Ive thought about that..There would be heavy adjustments..lots of green showing on the grid.. This would help keep it on the 1004 but can that be done? Im going to read some other threads.. thanks for everyones help

 

[Mike Kennedy]

.. This would help keep it on the 1004 but can that be done?

1004 - yes, see prior post.