10 Acres MH with Abandon Fish Farm

[Josh Shapiro]

FHA Manufactured home on 10 acres with ……..an abandon fish farm zoned residential!

Will FHA accept this even with a cost to cure?

I see this as one, a major safety issue that would need to be recified as there are stacked fish aquairiums, empty concrete fish stalls piled high, deteriorating screen houses etc.... everywhere. Not even getting into the possible environmental issues..... Any advise?

 

[Marcia Langley]

I see this as one, a major safety issue that would need to be recified

Sounds like you have answered your own question. If there are major safety issues, you must make it "subject to" repair and (from your post) possibly "subject to" inspection by other experts.

 

[Mountain Man]

FHA... the new sub-prime. Sometimes you've got to know when to say no to a client.

 

[Josh Shapiro]

Tell me about it. When the order came in I though great, I just completed 2 MH in the area with similar acreage within the past 2 months this will be a breeze. Phone interview went great, no red flags brought up in conversation. Get to the property and alomst crapped when i saw all the abandon big black oval shaped screen houses. I guess it is a good thing I already ran the credit card. Have about 10 hours in it with research and I already drove the comps prior to inspection which were everywhere from 2-25 miles away from subject. Round trip between all comparables was about 100 miles........ Yeah, just got off the phone and it has been cancelled. Now I just have to figure how much I will refund.....What a wonderful day.....

 

[ZZGAMAZZ]

You must complete the assignment and indicate that it does not meet minimum HUD standards/requirements. By doing so you have fulfilled your client duty by identifying a property that HUD probably does not wish to insure. This fulfills the SOW and prevents the MB from subsequently ordering an appraiser from an individual who is not as circumspect as you.

I have relatively limited experience but it's possible failing to complete the assignment would violate USPAP and possibly disqualify you from future HUD assignments.

 

[Michigan CG]

You must complete the assignment and indicate that it does not meet minimum HUD standards/requirements. By doing so you have fulfilled your client duty by identifying a property that HUD probably does not wish to insure. This fulfills the SOW and prevents the MB from subsequently ordering an appraiser from an individual who is not as circumspect as you.

I have relatively limited experience but it's possible failing to complete the assignment would violate USPAP and possibly disqualify you from future HUD assignments.

Sir, are you really going to take this assignment? A fish farm that isn't in operation anymore? Where are you going to find those comparables? Cost to cure?

You call the client and tell them it is a complex assignment that will mostly not fit guidelines. How does that violate USPAP? And how would honesty cause you to be disqualified from future assignments?

 

[Pamela Crowley (Florida)]

What is the H&BU???

 

[Josh Shapiro]

Order has been cancelled. Pam, I will update the Fraud Site with info. As for H&BU I can not determine. It is zoned RL1 Residential Low Density. However, neighbor to the right is a Fish Farm and neighbor to the left is a Nursury. I have also notified FHA of situation!

 

[ZZGAMAZZ]

TE: In retrospect I agree with you 100% in terms of (lack of ) competency. However, IMO if there are issues about a property such as an environmental nuisance that renders it non-insurable an appraiser would be remiss in failing to complete the assignment in order to avoid disclosing the hazards.

 

[CANative]

At least in my area, many owners of these types of properties used them for home-based businesses and it doesn't make the HBU commercial versus residential. It's residential zoning.

Environmental hazards from a small time fish farm? The ground would probably love having those fish tanks drained all over them. Good organic fertilizer/plant food.

All you're dealing with is large amounts of junk that would probably need to be removed. Seems this could be dealt with using a C2C.

Why would you register this property on a fraud website?