If you’re in the real estate industry, you’ve probably heard of ANSI. If not, let us explain. ANSI is a standard of measuring which has been required by Fannie Mae for reporting living area and non-living areas. These requirements were effective as of April 1, 2022. The ANSI standard specifies how your calculations will be communicated to ensure consistency across all reports. Join us as we explore the ANSI standard.
What Is ANSI?
An ANSI (American National Standards Institute) sketch is a drawing that shows the layout of a home, including rooms and features. It’s intended to be used by real estate agents to properly relay to their clients the living area and non-living areas of a property. This type of sketch can be helpful for buyers who are considering purchasing a new home or those who are thinking about selling their home. ANSI standard sketches give people an idea of how a their asset will be viewed by the lending community.
DVS Will Help Answer Your Questions
If you are a realtor, you know about the ANSI standard. If you are a buyer or seller of real estate, then your agent understands how a standard can be beneficial. Understanding how ANSI standards can benefit your business is key to maximizing your assets’ value and ensuring compliance with regulations. With the help of DVS Appraisals, you can stay up-to-date with the latest standards and ensure that your business is operating at its best.