Bare concrete flooring

[CANative]

Appraisal advice from FHA is not the same has HUD MPRs.

You only need C2C for non-compliance in MPRs.

Subject to repairs if:

Mark this box
“subject to repairs or alterations”


when the appraisal involves existing housing, or new construction more than 90% complete with only buyer preference items remaining (floor coverings, appliances, landscaping packages (soil must be stabilized to prevent erosion)), requiring repairs or alterations to:
• Protect the health and safety of the occupants
• Protect the security of the property
• Correct physical deficiencies or conditions affecting structural integrity
• Complete buyer preference items for new homes, or to
• Complete repairs/improvements noted in work order or contractor estimates for the Streamline K
• Meet FHA Minimum Property Requirements
The appraiser must indicate the extent of repairs and note this in the appropriate section of the appraisal, or in the “additional comments” section, or in an addendum, under the heading of “Reconciliation – Required Repairs” listing the repairs noted together with an estimated cost to cure.

I don't see bare floors rising to the level requiring a condition for repair.

 

[Mr Rex]

I consider the fact that floor coverings are also not a code requirement (because it doesn't impact the safety or sanitation of the property) as a reasonable approach to FHA properties as well. Remember FHA's 3 S's: Safety, Security, Soundness. Sure it may market for less, but it does not violate any of the 3 S's.

 

[CANative]

Concrete floors offer better sanitation because you can just hose everything down.

 

[NC Appraising]

Again,

Bare floors is referring to "bare wood floors" where the finish has worn off, and the wood floors are "bare".. Just like it refers to worn out carpeting.

If HUD allowed for all of the flooring material to be missing, I think they would have come out and said it.

Something like this:
"defective floor finish or coverings (worn through the finish or badly soiled carpeting" no longer requires repairing or replacing, because flooring materials are not required in the first place. A home does not have to have flooring materials. m2:

As I said, what's next? kitchen cabinets can be missing, as long as there is sink? Every door can be missing. Every piece of drywall can be missing except where there are electrical wires?






That being said, the handbook is poorly written.

 

[Mr Rex]

I wish I could find me a nice late 70s trailer with concrete floors on a couple of acres of cut over and swamp land. I could die a happy man.

 

[Mr Rex]

[FONT=Verdana, Geneva, Arial, Helvetica, sans-serif]You can hang your hat on the bolded red, if you want, I think its making a mountain of a molehill. Provide a C2C and let the DEU make the call. [/FONT]


[FONT=Verdana, Geneva, Arial, Helvetica, sans-serif]Required Repairs: Required repairs are limited to those repairs necessary to preserve the continued marketability of the property and to protect the health and safety of the occupants, A.K.A. the three S's:

• Safety: protect the health and safety of the occupants
• Security: protect the security of the property (security for the FHA insured mortgage.)
• Soundness: correct physical deficiencies or conditions affecting structural integrity
  

[/FONT]

 

[Ken B]

I'm surprised Rex didn't go to the source...

Handbook 4910.1 MPS

Section 609 - Finish Materials

Subsection 609-3.8 - Interior Concrete Floors

Subsubsection 609-3.8.a - If painted...

My bold to indicate that painting is optional while interior concrete floors are recognized as an interior finished item.


Thanks for playing.

 

[NC Appraising]

So if the subject property has been vandalized in the interior with spray paint, cabinets missing, tile flooring is missing, carpet is missing, counters missing, doors missing... none of these items affect the 3 S's.. so AS-IS, and C2C, and let the DUW decide?


I just do not want someone to turn in a report, when they can get sanctioned by HUD, as Mr. Pack stated that it could happen.

If I'm in doubt, I always call HOC. They take your name, and keep a record of every time you call and record every question that you have ever asked. CYA.

 

[CANative]

I'm surprised Rex didn't go to the source...

Handbook 4910.1 MPS

Section 609 - Finish Materials

Subsection 609-3.8 - Interior Concrete Floors

Subsubsection 609-3.8.a - If painted...

My bold to indicate that painting is optional while interior concrete floors are recognized as an interior finished item.


Thanks for playing.

That's for proposed construction (MPS). Not existing construction (MPR).

 

[CANative]

I just do not want someone to turn in a report, when they can get sanctioned by HUD, as Mr. Pack stated that it could happen.

There are differences between what Brad might say depending on how the question is asked, what the appraieser does in any given assignment and what actually lands on Brad's desk.

If the appraisal was for a purchase and carpeting was part of the contract then the appraiser would have to condition for carpeting.