What happens to investors in space?…
What happens to investors in space?
There is property in an excellent area, with a 120K-130K compass to the north. Is 4 rooms, 2 bathrooms, but 3 of the rooms are in the structure of Shotgun house (the first room leads to the room leading to the room) - in short Layout shit.
My question is not whether this is a good deal or not .. but about Appraisal.
I would love to hear only from someone who has experience or is familiar with the appraisals of US banks - does the Maafan layout dramatically lower the price? Assuming that apart from the room dispute the property is shell.
Thank you!
Thanks to everyone for the help. I have an idea for a division that I will examine in depth .. There is no doubt that the ideal is to change the division of the rooms.
As for the shutgun compass - most of the properties I compared have no pictures in the MLS that I could tell from whether it was in a similar structure or not.
May you be signed and sealed in the book of life
Shlomi is excellent, thank you !!
And how about you?
A house in a shotgun structure is usually characterized by entrepreneurs who in the process of setting up the subdivision used each pit to deploy small slices of lots and produce more of them.
It is therefore very possible that most or some of the neighboring properties are such.
If everyone is like that, it's very easy to make a compass.
If it is single in this configuration as it is a balance of space then I would be careful.
Are the comps you specified are of properties in the same layout? A key part of appraisals is similar properties sold in the area so there is a question here of which ones are “similar” the logic is that an appraiser will take into account properties in the same layout to substantiate his calculation. So can definitely affect the value it will set.
If all the data works out for you.
And you're after inspection, and that's the last thing left..just bring an appraiser.
Good question, follower
Apparently the valuation of the property will not be as you would like. Eyal suggested a nice idea
A room that leads to another room is usually illegal and does not appear in the listing of the house.
I do not agree with Maor (and this is legitimate) appraisers have calculation tables and are usually very square in their thinking (I once argued with an appraiser and proved him wrong and he had to add $200,000 to the value of a property) in your case I think the appraisal will be lower than the alternative because of train rooms . but !!!!! You have a wonderful opportunity here to change the layout, maybe you can make 4 normal rooms here? (depends on the cost of the renovation you are planning) I would love to see a floor plan if you want, I do it all the time (my architect is already telling me to send him the plans)
In principle, this should not affect the freesale, but it will definitely affect the buyers. You probably don't like rooms like this. Especially if it is 3 such rooms. That's why I think you will have a problem selling. And when it's hard to sell..then you have to lower the price. I would suggest you to take a safety factor of 15,000 decrease in the price in the sale. Alternatively, maybe try to change the building so that the rooms are separate or at least some of them. If none of the options made sense, I would walk away from the deal.
I would check first if in the permit of the municipality the house is really defined as 4 rooms according to the configuration you described it sounds strange to me that they approved such a structure