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- No. Fannie Mae does not require an afirmative statement that the standard was followed. The statement of finished square footage consists of above- and below-grade areas of the house reported to the nearest whole square foot.
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square footage of the room must have a ceiling height of at least 7’ and no portion of the finished area that has a ceiling height of less than 5’ can be included in the GLA.
Dec 17, 2021 · Finished areas must have a ceiling height of at least 7’. In a room with a sloping ceiling, at least 50% of the finished square footage of the room must have a ceiling height of at least 7’ and no portion of the finished area that has a ceiling height of less than 5’ can be included in the GLA.
- Q. Do appraisers need to adopt new technology to comply with the requirement for sketches to be computer generated? A. Most appraisers already provide computer-generated (not hand drawn) sketches in their reports.
- Q. The standard describes three scenarios in which a “declaration” is required. What is the difference between the statement of finished sq ft and the declarations?
- Q. What should the appraiser do if compliance with the ANSI standard is not possible? A. If the appraiser is unable to adhere to the ANSI standard, they must enter “GXX001-” at the beginning of the Additional Features field of the appraisal report and provide an explanation of why they were not able to comply.
- Q. Is the ANSI standard required for desktop appraisals? A. No. The standard is not required for desktop appraisals, nor is the exception code. We do encourage appraisers to voluntarily follow the standard on desktop appraisal assignments whenever feasible.
- ANSI Resources – What Are The Best For You?
- Must Have Now
- Click Here to Read FAQs from A Recent ANSI Class Taught by Hamp Thomas
There are many different ways to learn. What is the best for you? Read, listen to speaker (podcast, webinar, or class), look at sketches, watch video demonstrating how to measure or practicing measuring yourself. When writing about ANSI, I include references at the end of each article. I had a lot of trouble understanding stairs and sloped ceilings...
“Square Footage – Method for Calculating: ANSI Z765-2021” 16-page document. There are only 3 pages of standards, 2 pages of explanation (Annex) and 6 sketch pages. Lots shorter than USPAP and does not change every two years!! When you read the 16-page document, the Standards are only three pages. The rest of the document is diagrams and explanation...
================================================ FEBRUARY 25, 2022 Appraisal Institute: New 4-hour ANSI online class and Webinar I attended both the class and the Webinar and recommend them. Online Class: Measure It Right! – Using the ANSI Z765-2021 Standard for Residential Properties4 hours online $80 AI members Non-members $95 1. Recognize the pu...
In a room with a sloping ceiling, at least 50% of the finished square footage of the room must have a ceiling height of at least 7’ and no portion of the finished area that has a ceiling height of less than 5’ can be included in the GLA.
On December, 15, 2021, Fannie Mae published an announcement titled “Standardized Property Measuring Guidelines” – Updated guidance, which stated – Appraisers will be required to use the Square Footage-Method for Calculating: ANSI® Z765-2021 (American National Standards Institute®) Measuring Standard for measuring, calculating, and ...
Apr 18, 2022 · Per ANSI, please include a statement of finished square footage and report the above and below grade area. An EXAMPLE of a Statement of Finished Square Footage of a detached single-family house with basement follows:
