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Verbiage - Share yours, and view others!

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AnonApprsr

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What do you guys use for verbiage on a 1004, 1025, 1073? Scope of work, legal non-conforming, septic system etc.

Here's one for legal non-conforming:

The Subject is a legal non-conforming grandfathered lot. The current zoning requires 60,000 SF lots with 200 Ft Frontage. The dwelling could be rebuilt (in the event of fire or other casualty) in the same footprint, per the town required building codes, within the time specified by the regulating building department.


Short and sweet, I have supplemental comments also for Legal Non-Conforming addenda.
 

Craig Farr

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Arizona
The subject property is zoned !!!!!!!!!. This zoning normally allows rebuilding if destroyed. However, there is a time limit to rebuild as well as structure minimum and maximum sizes and other code requirements. THIS APPRAISER DOES NOT GUARANTEE THAT THIS SPECIFIC PROPERTY MAY BE REBUILT. Such a guarantee should be in writing and can only come from the zoning authority. The appraiser is not responsible for obtaining such a guarantee and is NOT liable in this matter.
 

Elliott

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Oregon
Anon said, the dwelling could be rebuilt...

I'd probably say, "The city of X will determine if the house can be re-built...."
 

AnonApprsr

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Post your verbiage! This is about an exchange of verbiage, and of course helping each other improve our verbiage. I'll add that qualifier, just to be sure I get the right point across. Thanks!

I was interested in seeing a wide range of verbiage.
 

AnonApprsr

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George Hatch said:
The Subject property is part of an urban residential neighborhood that was originally built out in the 1920s-1930s and includes a wide variety of residential units including 2-4s and apartments. Typical SFR sizes in the area range from ~700 - 2,000+ SqFt. Many of the larger homes are the result of additions. There is currently a trend for redevelopment and rehab of poor conditioned and vacant properties, with some investor activity noted among the sales data. Physical conditions levels range from poor to average when compared to other residential neighborhoods in the metro areas. Vacancy rates for SFRs range from about 3% - 5%. Based on a review of all SFR sales data in the neighborhood during the last 12 months, average exposure times are from 2-3 months in generally habitable condition and 3-4 months for homes in need of significant rehab.

Voila - no need to mention crime rates, barred windows, crack houses, hookers or gangstas. Anyone who could read that summary and not understand this is an inner-city area with the attendant economic and social problems isn't paying attention.
From a FAQ in this forum sub-section.
 

The Warrior Monk

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New York
Here's one for legal non-conforming:

The Subject is a legal non-conforming grandfathered lot. The current zoning requires 60,000 SF lots with 200 Ft Frontage. The dwelling could be rebuilt (in the event of fire or other casualty) in the same footprint, per the town required building codes, within the time specified by the regulating building department.

FWIW, this paragraph isn't specific. It does not state how the subject property is nonconforming. It implies that it is nonconforming with regard to size and frontage, but it doesn't say that specifically. Also, oftentimes if the lot is nonconforming with regard to size and frontage, there are also setback issues. I would also clarify the that nonconforming issues are related to the lot and not the use.

As a practical matter, some zone codes specifically state that lots, or improved lots, existing at the time of the adoption of the code are legal uses (not legal nonconforming).
 

Mztk1

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Dec 3, 2006
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Certified Residential Appraiser
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Florida
In your situation, with inadequate lot size for zoning but the use is legally SFR, I check "conforming" because the way I see it that is for non-conforming use not non-conforming lot size or set backs, etc; and I write something like this, though there is nothing canned and I am sure it comes out different every time:

"The subject lot is undersized for its zoning but its use as a single family residential property is legally conforming."

When the use does not conform but is pre-existing and legal I state:

"The subject use does not conform to the zoning code, but it is a legally non-conforming, pre-existing use. See attached excerpt from the county code on non-conforming use properties".

In addition I look for comps that are similar to prove marketability and I state my findings: "There are no adverse effects on marketability" or "Marketability is not affected but based on similar sales data there is an adverse effect on value". It is rare that there is an effect on marketability by my definition of marketability, which is basically synonymous with saleable.

As for well and septic, they are almost always typical for the markets I find them in. So I simply check "Other" and write alongside it "Indiv Septic/Typical" and say nothing else unless it is an FHA, which then I discuss the economic feasibility of hooking into the sewer system. When septic is atypical and I have one, even one that is no longer used, I discuss it at length in a unique way as the property warrants.
 

The Warrior Monk

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In your situation, with inadequate lot size for zoning but the use is legally SFR, I check "conforming" because the way I see it that is for non-conforming use not non-conforming lot size or set backs, etc;

This is why I hate Fannie forms.

From the building department standpoint, it's going to need a variance if changes are needed, regardless of whether its related to use or dimension.
 

AnonApprsr

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Massachusetts
I see, those are good ideas. I have other addenda that supplement that statement, if necessary. But, I confirm that the lot is "legal-nonconforming" per the town when it doesn't appear to meet zoning requirements. It's an easy phone call to make to the town hall. Oh and Mr. Wimpelberg, on the first page of a URAR I note the Subject's frontage and lot size, and below that is where the See Addendum would be that would lead to that statement.

I was definitely looking forward to seeing more examples of other verbiage. But we can critique mine some more, either way is fine as long as there's learning afoot.
 
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Virginia
OK.. here is some verbiage I came up with... nothing to do with zoning...this to define oversupply and declining market.
I cringe at the knowing slam slam slam I will get from some of you... go easy please....

I did take out my statement that all this was caused by irresponsible lending criteria - I suppose underwriters would not like that, huh.

Today's lending climate is reacting to the recent demise of sub prime lending and general tightening of lending guidelines. Conventional and FHA lending takes the lead. With the gross reduction of lending programs available, many potential borrowers do not qualify based on ability to pay, credit or job stability. As a result it is a buyers market, less buyers, more sellers.. an oversupply of homes to the demand of qualified borrowers.

I have spoken with Realtors who indicate the issue is widespread, not merely in this subject's neighborhood.

As to marketability I have taken this into consideration when examining sales using the most recent who similarily have been affected by the same lending conditions/buyer's market. Time on market is longer now overall compared to two years ago during a period of rampant appreciation because of a 'sellers' market (undersupply).

Home prices are dropping as a direct result of the current market conditions . Many lenders/investors consider this a declining market. If however, one were to compare to late 1990 early 2000 prices, prices/values could be viewed as stable to increasing.
 
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