Weird Properties

[Tim The Enchanter]

Actually there were few weird properties 20-35 years ago

I remember some pretty weird and sometimes cool things from 20 years back + or -.
But, this is Los Angeles, so it's to be expected.

 

[Terraform]

I have noticed this in my area and I believe it is because many of the major AMC players have recruited no talent staffers and promised them that they can cherry pick and still earn a salary, then they pawn off the difficult assignments to the independent appraisers. Not a problem, raised fees significantly for the complex assignments from the "major players) and acquired new clients that are paying higher fees.

 

[Sherry Bloom]

Talking about interesting properties; i am working on an assignment of a single family home in New Vernon, New jersey. The property is improved with a mansion, however, the parcel is only accessible through an easement which is 5-6 feet wide at the narrowest point, making it essentially land-locked. Anyone have any experience with such a property?

 

[techbiker]

Talking about interesting properties; i am working on an assignment of a single family home in New Vernon, New jersey. The property is improved with a mansion, however, the parcel is only accessible through an easement which is 5-6 feet wide at the narrowest point, making it essentially land-locked. Anyone have any experience with such a property?

I'm not an appraiser, however I have run into many landlocked properties. I usually wonder about the chances of securing an easement as well as why the properties had been subdivided the way they were. In one example, squatters moved in and filed an "Affidavit of Adverse Possession" in ~1942 after fencing off 3 acres. They then sold off the mineral rights. Unfortunately the only access was along a railroad (which is definitely no longer permitted). I've yet to run into one improved with a million-dollar home!

 

[Meandering]

Talking about interesting properties; i am working on an assignment of a single family home in New Vernon, New jersey. The property is improved with a mansion, however, the parcel is only accessible through an easement which is 5-6 feet wide at the narrowest point, making it essentially land-locked. Anyone have any experience with such a property?

What are the easement laws in NJ?
That's were you may find an answer, or may have make EAs and HCs pending legal determinations. Adverse possession should be a real concern.

.

 

[Terrel L. Shields]

5-6 feet wide at the narrowest point

Better drive a very small car...

 

[Vermonter]

Oddballs refis are the norm when it gets slow. Loan officers push them off when it's busy and then call them back when there's nothing else going on.

I've had probably a dozen since the first of the year and only one did I actually complete....and it was a major PITA (2500sqft house with the one and only bedroom being a 1250sqft master suite). The rest were cancelled when I updated the client on what the property actually was or sent a few pics. Good riddance.

 

[keaw1]

I'm fond of saying, Ms. Grant, that "there ain't no easy ones no mo!"

Every property is screwy in some respect.

The other factor, depending on where one works, is the "easy" ones are being sucked up by 'staff appraisers' working for the various AMC's. The tough properties are left over...........and thus we should NOT discount our fees just for the privilege of doing headache properties.

 

[keaw1]

I agree , I think you are 100% correct . Amrock formerly TSI is now rejecting fee increases that you ask for once you research the property and see the complexity . They are looking for whom ever would do it for the standard fee.

 

[TRESinc]

Oddballs refis are the norm when it gets slow. Loan officers push them off when it's busy and then call them back when there's nothing else going on.

I've had probably a dozen since the first of the year and only one did I actually complete....and it was a major PITA (2500sqft house with the one and only bedroom being a 1250sqft master suite). The rest were cancelled when I updated the client on what the property actually was or sent a few pics. Good riddance.

similar here. i spoke with a friend who is a LO and they said the same thing - when it slows down they call the people who did not qualify in the not too distant past. been seeing some really head-scratchers lately. just had a 4900sq ranch, full finished basement, 2 parcels totaling 48ac, owned by an LLC, bought the 2 parcels in 2013, paid cash for the house to be built in 2017, 1900sf pole barn. borrowers applied for an equity line, lender wanted a 2055. i politely declined