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Must-Read Tips to Appraise, Buy, and Sell Special Purpose Property [2021]

The Robert Weiler Company

Challenges Related to a Special Purpose Property. Today, it is in the aforementioned neighborhoods that a special purpose property – buildings designed for one specific use – are being repurposed for new ventures. And, they too, face a variety of challenges unique to their designation. What’s Makes You So Special?

Appraisal 158
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How to Identify a Residential Complex Property

McKissock

If you ask appraisers to provide examples of complex appraisal assignments , many will focus on commercial or mixed-use properties or two- to four-family properties. However, many single-family home appraisals are considered complex assignments. What makes a complex property? Architectural design.

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Appraisal Inspection Vs. Home Inspection: Your Role as an Appraiser

McKissock

No matter how the appraisal inspection appears to the uninitiated, it is not the equivalent of a home inspection. An appraiser is required to observe the subject property and the surrounding area for certain factors which affect the subject property. It’s somewhat of a benign definition, is it not?

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Why Do Square Footage Disputes Arise?

Empire Appraisal Group

The agencies involved in residential lending—Fannie Mae, Freddie Mac, the Department of Veterans Affairs, and the Federal Housing Administration—have slightly varying definitions of gross living area, but all agree on these facts: Gross living area is the finished, above-grade residential area. to the primary dwelling.

Sellers 78
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How to Identify a Single-Family with ADU vs. Two-Family Property

McKissock

The second unit may be apartment-style, a separate structure, a basement unit, a garage or attic conversion, or numerous other possible configurations and designs. How to tell if it’s a single-family with ADU vs. two-family property. The detached unit is subordinate in size to the primary dwelling.

Legal 71
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Are Appraisers Professionals?

Appraisal Today

It’s not just about acquiring designations but staying informed about market dynamics, industry changes and emerging trends. Acre lot, built in 1962 John Sugden, a disciple of Mies van der Rohe and a luminary in architectural design, crafted this home with a robust U.S The appraisal includes no recent sales of similar design.

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Mortgage Term Glossary

Assurance Financial

If you plan to buy a home or refinance an existing mortgage, you’ll likely encounter mortgage loan terms and definitions that may be unfamiliar — especially if you’re buying a house for the first time. Use the home loan glossary below to get familiar with terms and definitions that might be new to you. Assessed Value.