What is "habitable" to an appraiser?

[Erik]

Habitable in North Carolina ( state law), County, Town, City, Village supplemental Laws apply as well:

http://www.nchh.org/Portals/0/Contents/HH_Codes_NC_7-22-08.pdf

A competent Appraiser must be aware of, and address applicable Municipal Improvement, Use and Occupancy Laws, and Compliance in determining the Highest and Best Use of a Site (whether improved or vacant).

ERIK, where is the property located (governing local Municipality)?

That's helpful, thanks. The property is in an unincorporated area of Jackson County, N.C. The kind of area where you can buy moonshine from the neighbors (true story).

 

[Mike Kennedy]

That's helpful, thanks. The property is in an unincorporated area of Jackson County, N.C. The kind of area where you can buy moonshine from the neighbors (true story).

PRIOR TO purchasing the prop, I suggest visiting with Mr. Elders and reviewing the recorded documentation, if any, as the prop may, or may not be considered by the County as a Legal, Non-Conforming Use which pre-exists current building & zoning ordinances (see the PDF list."
http://www.jacksonnc.org/code-enforcement.html

 

[Erik]

PRIOR TO purchasing the prop, I suggest visiting with Mr. Elders and reviewing the recorded documentation, if any, as the prop may, or may not be considered by the County as a Legal, Non-Conforming Use which pre-exists current building & zoning ordinances (see the PDF list."
http://www.jacksonnc.org/code-enforcement.html

Thanks, Mike. I have checked, and there is no zoning where this property is. It is very, very rural. I am pretty confident it predates the building code.

 

[Mountain Man]

Cullowhee? Know the area well. Unless on the Cherokee reservation, you are pretty much in "build what ever you want" territory. If the improvements have value, remaining economic life, and remaining physical life, the credit union may be able to do do a real estate loan. If not, then go for a land bank loan with a lender similar to: http://www.carolinafarmcredit.com/home.aspx

 

[JTip]

Habitable = Will your wife stay the night in it.

 

[Erik]

Cullowhee? Know the area well. Unless on the Cherokee reservation, you are pretty much in "build what ever you want" territory. If the improvements have value, remaining economic life, and remaining physical life, the credit union may be able to do do a real estate loan. If not, then go for a land bank loan with a lender similar to: http://www.carolinafarmcredit.com/home.aspx

Yeah, it is "build what you want" territory. I am pretty sure my family that owns it think I am a communist for wanting to do it on the up and up. Until recent years no one got permits or inspections for anything, and many still don't.

I do think I can get it to "habitable" to do a regular mortgage, but what is a land bank loan? I am open to any option. I only need a loan of $40K, and I am confident from looking at comparable properties that it is worth well more than that, even "as is."

 

[Mike Kennedy]

Thanks, Mike. I have checked, and there is no zoning where this property is. It is very, very rural. I am pretty confident it predates the building code.

I strongly recommend being certain.

 

[Erik]

I strongly recommend being certain.

Good advice. I'll check into it.