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Old 10-13-2010, 08:04 PM
Elliott's Avatar
Elliott Elliott is online now
 
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Default 203K question.

What appraised value(s) are being sought when you are doing an existing home with a framed addition (400 sf) and remodeling of kitchen and bath that has a contractor's bid of $60k to complete?

Is it an 'as is' value or 'as complete' or both?
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Old 10-13-2010, 08:31 PM
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Marion Rhodes Marion Rhodes is online now
 
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For FHA, as completed, using Extraordinary Assumptions and Hypothtical conditions as needed. The lender may additonally want an AS is value.
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Old 10-13-2010, 08:36 PM
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As completed. FHA already has an As Is appraisal in file from when they took the property into inventory.
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