want to know if bedrooms in a walk out basement count in the appraisal?

Asked by Allesee78, Mishawaka, IN Wed Sep 19, 2012

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5
Jody Jones, Agent, Elkhart, IN
Wed Sep 19, 2012
If the room has a closet and there is an egress window either in the room or its a walkout, then you may advertise it as a bedroom and it should be included as finished footage in the appraisal.
0 votes
We are not finding this to be true and it's very frustrating that we have gotten many conflicting answers. An appraisor says, "can only count sq. footage that is on level or above for an appraisal." Even our architect said that this would count, but the bank says no.
Flag Tue Oct 2, 2012
Annette Levi…, , New York, NY
Wed Sep 19, 2012
FannieMae and FreddieMac do not consider basement rooms in the square footage count unless they are above ground. Then they must comply with local zoning regulations.
0 votes
Edith Karoli…, Agent, Winnetka, IL
Wed Sep 19, 2012
you got your answers already below, if it is a walk out basement and the bedroom has a window
and closet, that it should be considered in the appraisal...
Good luck to you...

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0 votes
Ryan Clark, Agent, Carmel, IN
Wed Sep 19, 2012
Hello,

If the basement is finished and it has an egress window it would be considered apart of the over all living space to the home.

Basic requirments in order for a window to be considered egress:

Width = 20in
Hight = 24in

Then you must have 5.7 sqft of landing area once outside.

Hope this helps!
0 votes
Stephanie We…, Agent, Mishawaka, IN
Wed Sep 19, 2012
They are allowing basement bedrooms if there is an egress window in the room or a walk out LL.
0 votes
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