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Anna

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Reply with quote  #1 
Received a request where there are two homes on six acres.

The loan officer is calling the second home an accessory building. 

He originally described the second home as a pool house. 



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Anna
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johnmbryant

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Reply with quote  #2 
What is the question?  Is it an accessory dwelling unit?  That is your decision
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BillDing

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That's great, Anna.  Thanks for sharing 
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Bobby

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Looking for takers at $250...
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MEP

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Reply with quote  #5 
That one is simple, if it has separate meters and septic...it is not an ADU.
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johnmbryant

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Reply with quote  #6 
An ADU may have separate meters and septic but it can't be rented.
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Anna

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Reply with quote  #7 
The rest of my thread apparently fell out.

There are two homes, one which was built in 2010 on 8 acres.  Another house was built the next year on the same acreage.  Not subdivided. The borrower decided to consider the original house a guest house.

I suggested he hire a surveyor and subdivide the acreage.  That was before I found out that there are two separate septic systems and they share a spring for water and the electricity is shared underground with one meter.

Located in rural Pickens County. 

I need help finding comparable properties.

I've thought about the different ways I could approach this engagement. 







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MEP

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Reply with quote  #8 
Quote:
Originally Posted by johnmbryant
An ADU may have separate meters and septic but it can't be rented.


The lenders do not like 2 units on one tract that are individually metered. Good luck finding a sales in that county within the past 2 or 3 years.

I would probably send that one back...it is a money loser.



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Anna

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Reply with quote  #9 
Which I did.  Thanks ME and John.

You're welcome, Bill.

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BillDing

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Reply with quote  #10 

Just havin fun with ya.  Someone was bound to be a smartass, so I thought I get the jump on it.  [smile]

That assignment would have been a lot of work and probably not worth the fee they were willing to pay.


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