Real Estate Definition Of Attic

Loft and attic in u s usage a loft is an upper room or story in a building mainly in a barn directly under the roof used for storage as in most private houses.

Real estate definition of attic.

However hud fha does not have a real definition of attic in their documentation. The mls is a service real estate agents use to publish their active property listings so that consumers and agents can search for sale homes and view them online. Explaining attic fan term for dummies. Theoretical concepts of value and definitions principles of valuation basic valuation definitions forces influencing value economic trends affecting real estate value site analysis and valuation architectural styles and functional utility the appraisal process and methods methods of appraising properties the sales comparison approach.

In this sense it is roughly synonymous with attic the major difference being that an attic typically constitutes an entire floor of the building while a loft covers only a few rooms leaving one or more sides open to the lower floor. May be simply an air space or improved and used. At first glance the concept of measuring a home counting the rooms and reporting the results in the appraisal report appears to be fairly simple and straightforward. The attic can be completely finished as a habitable place complete with floors insulation beds and furniture like just another bedroom or home office.

Because there is no definition of attic assumptions have been made by fha and appraisers that the attic includes any space above the ceiling and below the roof inside dwellings despite that space in modern design homes typically not having any flooring. Understanding the measurements calculations and room counts of your home on the appraisal. Real estate glossary term attic. Each mls has different rules on how to report and what counts as finished square footage but they all seek to standardize housing data so that you have the most accurate information.

Definition of attic michael lescher real estate agent re max shocase an attic is an accessible room or space between the roof rafters and ceiling joists of a structure.