I have two lots recorded under one deed and financed under one mortgage. Lot #9 has my home, and lot #10 (my back yard) is empty. I want to build a second home on the empty lot as a rent house. I am looking to refinance the current mortgage and utilize the equity to hold clear title on lot #10. I have been told by one lender that the lots would need two separate APNs before they will refinance. I was under the assumption that the APNs are assigned after the deeds are recorded. I’m hoping someone is familiar with this process and can offer some advice. Thanks so much!
I have a property with two lots and I was told I’d have to get a surveyor to combine my lots; so I’d assume the process applies to separate lots...
Robbie, go to the city and ask, it sounds like they have already been subdivided. Or first y may want to reach out to me, I can look it up and see if I can find the other APN. It wont cost you anything and it will only take a minute.
Here is the existing survey for reference. Thanks for the input guys!
Think of the opportunities available with this empty lot! I'm waiting on the county offices to open so I can call and get additional instructions. I will keep updating!
Update: I spoke with my mortgage company to make sure there would be no adverse consequences to having the lots taxed separately from each other. I filed the request with the county appraisal district to update the APNs and spoke with the city to get a list of requirements for my plan. This is all new to me, so I am learning a lot! One thing I've learned is how good I am at making mountains out of mole hills. There really is "nothing to it, but to do it". cheers!
Update: The county completed my request and I now receive two separate property tax statements/bills, one for each lot. The refi is moving forward and the appraisal is scheduled for today. Not long before this step is complete.