On a slit-level home, is finished lower level (partially above ground) included in total sq.ft.?

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July 27 2009 - Longview
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Profile picture for agentblu15
for assessment purposes and realtor purposes (on the listing), the partially above-grade area COULD be included in the GLA (gross living area), depending on what's typical for the area.  There are no rules governing how assessors or agents report this square footage.

However, for APPRAISAL purposes, only rooms that are completely ABOVE grade can be included in GLA square footage.  If any portion of the room is below grade (even if it's only a couple feet), the entire room must be considered below grade, and be valued like a basement, rather than as above-grade GLA.  That is based on the FNMA requirements for above-grade living area.
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July 27 2009
 

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QuestionOn a slit-level home, is finished lower level (partially above ground) included in total sq.ft.?
  • Latest answer by agentblu15
  • July 27 2009
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