----- Original Message -----

From: Wade Tullos

To: Total2000UsersGroup@yahoogroups.com

Sent: Friday, November 21, 2008 10:23 AM

Subject: Re: [WinTOTAL Group] Re: FHA - Operating a business on the premise

Sorry we are not the zoning police.  This could very well get you into a law suite even if you are correct.  You got the time and money??????

 

NOT THE ZONING POLICE......      

 

 

Wade Tullos

Value-Rite Appraisals Inc

englewood, Fl., 34224

941-276-2917

www.value-rite-inc.com

 

 

 

 

---

From: Dave Englund <ygroups@...>
To: Total2000UsersGroup@yahoogroups.com
Sent: Friday, November 21, 2008 9:21:57 AM
Subject: RE: [WinTOTAL Group] Re: FHA - Operating a business on the premise

These are excellent points. It doesnąt matter that the current owner is using his workshop (garage apartment) in a commercial manner, unless you want to report him to the local zoning board. Make sure you know all about zoning allowances first.

You have to look at the property as if vacant  and ready for sale, and consider the common uses of a workshop or aux apartment. If it is too big or too commercial for single family aux use, then it is simply a matter of a functional superadequacy in your cost approach.

Dave Englund
Austin, TX

 

 

From: Total2000UsersGroup @yahoogroups. com [mailto:Total2000Us ersGroup@ yahoogroups. com] On Behalf Of G&C Appraisals, LLC.
Sent: Friday, November 21, 2008 7:45 AM
To: Total2000UsersGroup @yahoogroups. com
Subject: RE: [WinTOTAL Group] Re: FHA - Operating a business on the premise

 

Dear Mr. Dale Cooper,

 

   You indicated a large workshop that is associated with the subject property. What is the alternative use if this property was an Active Listing? I understand that the owner is currently using this additional improvement as a home base office. What does the market indicate? Can you justify an adjustment from residential sales?

 

   Before you can this assignment, electrician, plumbers and carpenters; they keep supplies and scrape pieces from different jobs at their home from each job. The issue is the market and not his personal financing in reference to his personal taxes.  

 

   How big is this workshop, (20x20, 24x24, or 40x35)? Does it conform to the neighborhood? Is it a converted barn? Is it a metal skin building? Does the skin of the workshop match the subject exterior siding such as a brick veneer? Do you have a large four car garage?

 

   I am not fighting to save the deal. I am only asking these question to myself until further data is forthcoming.

 

George L. Corcoran

G & C Appraisal, LLC

145 Delaronde Street

New Orleans, Louisiana 70114

504-363-2763

Cel: 504-756-2726

Email: gcappraisal@ bellsouth. net

---

From: Total2000UsersGroup @yahoogroups. com [mailto:Total2000Us ersGroup@ yahoogroups. com] On Behalf Of Keystone Appraisal
Sent: Friday, November 21, 2008 6:49 AM
To: Total2000UsersGroup @yahoogroups. com
Subject: Re: [WinTOTAL Group] Re: FHA - Operating a business on the premise

 

I did see your post. Only 1-4 family dwellings are acceptable to FHA - commercial uses are not.  Accessory uses refer to other residential uses such as a mother/daughter but not commercial uses.

On Thu, Nov 20, 2008 at 17:57, anexcellentappraise r <dalecooper@cox. net> wrote:

See my email post.

Dale Cooper

Phx, AZ

--- In Total2000UsersGroup @yahoogroups. com, "ccarlson225"

<ccarlson225@ ...> wrote:
>
> I have done an FHA appraisal on a property that has a large shop in
the
> back with an office. The office is used for the owners small
> construction company that is set up as an LLC and pays rent to the
> owner. The underwriters are asking how much of the subject is used
for
> the business and if it meets FHA guidelines. I have looked all
through
> the FHA handbook and cannot find anything that addresses this. Is
this
> just a weary underwriter or am I missing something?
>
> I have addressed the percentage of the property used in the
appraisal
> already and explained that it qualifies as an Accessory Use
Structure
> on the property since it has a kitchette and a bath. They also want
to
> know why it has a kitchenette and bath. The way that the office is
set
> up it could rent out as a studio apartment and be legal with the
> county. Would they question that as well?
>
> Any assistance is greatly appreciated.
>
> Christi Carlson
> Vancouver, WA
>



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Paul Faeder
Keystone Realty & Appraisal Service Inc
Dingmans Ferry, PA 18328
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