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#879355 - 12/27/07 07:49 PM Spec Home Appraisals
DebbieC Offline
Member
Joined: Jul 2001
Posts: 66
Owensboro, KY USA
We have a builder that will be completing 3 houses, side-by-side, using the same materials and the same floor plan. The lots are the exact measurements. Each house will be $251,000 upon completion. Appraisal law requires that we have a appraisal for all loans over $250,000, but could we have one conforming appraisal that is linked it to all 3 properties during the construction phase?

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#879378 - 12/27/07 08:06 PM Re: Spec Home Appraisals DebbieC
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
I think that you will find that the appraiser can accomodate you by just changing the locations for three otherwise identical appraisals "per plans and specs".
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#879506 - 12/27/07 10:26 PM Re: Spec Home Appraisals RR Joker
Mint Julep Offline
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Mint Julep
Joined: Oct 2007
Posts: 1,152
Tennessee
We would get an appraisal based on the "model" and apply it as a "like-kind" to the second and third.

That is going to be one boring neighborhood.
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